SAP’s Startup Studio accelerator program will expand to 100 seats by the end of 2017, with the addition of 16 new startups.
The program, which operates out of the SAP Labs India campus in Whitefield, Bengaluru, began with 75 seats in its first year. Startups from the inaugural intake have used the program as a springboard, with Sellerworx, an ecommerce technology solutions and services firm, being acquired by Capillary Technologies, and Ecolibrium Energy, a provider of energy management solutions, being onboard into the Co-Innovation Labs (COIL) program at SAP.
“It has been an exciting and eventful year for the first batch of startups at the SAP Startup Studio. Our startup accelerator program has seen tremendous success, and we are eager to welcome the second cohort of startups joining us this month,” said Dilipkumar Khandelwal, managing director, SAP Labs India and executive vice president, enterprise cloud services, SAP SE. “By combining our technological expertise with our passion for startups, we are setting the foundation for the next big innovation to come from this part of the world.”
For the second round, the SAP Startup Studio received over 700 applications; 51 startups were chosen for the final round of interviews, from which the final 16 were chosen for the program.
The new intake of startups are working on technologies such as artificial intelligence, cloud, machine learning and Internet of Things across various business functions.
Last week SAP Labs India also hosted its SAP Startup Social event, with over 30 venture capital companies and 250 startups attending. The event was also a platform for 20 curated startups to pitch their ideas to 20 top venture capitalists.