On the heels of Oracle CEO Safra Catz’s meeting with Prime Minister of India Shri Narendra Modi and a series of investments announced as part of Oracle’s expansion in India and support of Digital India initiatives, the company has announced that its first incubation centre will launch in India.
Called the ‘Oracle Startup Cloud Accelerator,” the centre will open in Bangalore on April 8, 2016 and will be inaugurated by Oracle’s President of Product Development Thomas Kurian. Several more centres are slated to launch later in Chennai, Gurgaon, Hyderabad, Mumbai, Noida, Pune, Trivandrum and Vijayawada. Sanket Atal, Group Vice President of Development, Oracle, will be leading the initiative.
“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,” said Thomas Kurian.
Oracle Startup Cloud Accelerator is a global startup accelerator initiative by Oracle. Oracle India will lead the 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 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.
“We chose Bengaluru for our first centre, given that Bengaluru is the second best funded startup hub in the world, outside of USA” added Kurian.
Oracle Startup Cloud Accelerator is open to early-stage technology and technology-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. Selected start ups can benefit from a six month acceleration facilitated by technical and business experts from the industry and Oracle.