Germany-headquartered enterprise software provider SAP is increasing the number of startups in its India-based SAP StartUp Studio accelerator from seven to 16 this year, the Economic Times has reported.
The scheme, which takes place at the SAP Labs India campus in Bengaluru, is a one-year program that offers IT technology startups mentorship and coaching together with access to its parent company’s technology and customer base.
SAP StartUp Studio’s first class began in 2016. One of the participants, inventory management software startup Sellarworx, was acquired by cloud marketing company Capillary Technologies in October for an undisclosed sum.
Bernd Leukert, the SAP board member responsible for strategic innovation, said: “India is a growing market for startups. We are successful and startups are successful if we join forces.
“Once they have built software, then we have marketplace to place their products which makes our solutions better and richer. One plus one is more than two.”