Enterprise software company, Oracle is all set to launch its first startup incubation centre in India called ‘Oracle Startup Cloud Accelerator’, after Oracle CEO Safra Catz’s meeting with Prime Minister Narendra Modi. A series of investments were also announced as part of Oracle’s expansion in India and support of Digital India initiatives.
It will open the first incubation centre in Bangalore on April 8, 2016 (tomorrow) and will be inaugurated by Oracle’s President of Product Development Thomas Kurian. “We chose Bangalore for our first centre, given that it is the second best funded startup hub in the world, outside of USA,” said Kurian.
Apart from that, several other centres are slated to launch later in Chennai, Gurgaon, Hyderabad, Mumbai, Noida, Pune, Trivandrum, and Vijayawada. Oracle’s Group Vice President of Development, Sanket Atal, will lead the initiative.
Thomas Kurian said, “India is at an exciting phase of growth, innovation and development. Through the Oracle Startup Cloud Accelerator and the growing popularity of cloud as an alternate computing model, we want to be the catalyst for new business ideas. We are committed to furthering the government of India’s ‘Startup India’ initiative. It matches our agenda of fostering entrepreneurship and promoting innovation by creating the right ecosystem for growth and development.”
Oracle India will lead the Oracle Startup Cloud Accelerator initiative for the company. With Oracle Startup Cloud Accelerator, Oracle aims to help speed up a startup’s development through a combination of technical and business mentoring.
The initiative targets midsize firms including MSMEs (micro, small, medium sized enterprises) and startups, which are recognised as a highly vibrant and dynamic sector of the Indian economy that contributes more than 37 percent to India’s GDP.
The centre will provide mentoring, technology, co-working space, access to Oracle customers & partners, access to investors, and with free credits on Oracle Cloud. (Oracle offers a comprehensive and fully integrated stack of cloud applications and platform services).
Oracle Startup Cloud Accelerator is open to early-stage technology and tech-enabled startups who are building innovative solutions. The product or service should have the potential to make an impact on customers in the specific industry segment they are targeting. Prospective startup applicants will be reviewed through a meticulous qualification process. Startups can apply here till May 5, 2016.
Selected startups will be offered the benefits of a six month acceleration facilitated by technical and business experts from the industry and Oracle.
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