Oracle has launched a virtual startup accelerator programme, which is essentially a global non-residential startup programme, that will focus on cities outside the purview of its exiting residential Startup Cloud Accelerator programme, said a press release sent to Indianweb2.com.

Called as Oracle Scaleup Ecosystem, the virtual accelerator programme will give later-stage startups access to mentors and venture capitalists virtually. It is a non-residential, virtual-style program designed for startups, venture capital, and private equity portfolio companies to enable hypergrowth and scale.

Startups in growth phase or positioning for hypergrowth can apply for the programme. Interested startups, venture capital firms or similar organizations can apply here. Applications are being accepted on rolling basis.

Startups that are selected for Oracle Scaleup will have access to Oracle’s vast global resources including Oracle cloud credits and discounts, migration assistance, mentoring, marketing, and engagement opportunities with Oracle customers and partners.

The programme would be similar to its existing cloud accelerator programme, which was first launched in India in 2016, and is currently present in 9 cities in 6 countries. In 2017, it received interest from 4,000 global startups, out of which only 40 were selected. In India, Oracle's residential cloud accelerator is present in Bangalore, Delhi and Mumbai.

Reggie Bradford, Oracle senior vice president, Startup Ecosystem and Accelerator, said the programme allows the company to reach more innovators and entrepreneurs, regardless of location, including later-stage scaleup companies who need access to Oracle cloud solutions and resources without the hands-on offerings of its residential programme.

Sanket Atal, group VP - R&D in Oracle, said the need for such a programme came from the growing demand from more than 50 cities.

In last June, Hyderabad's Indian School of Business (ISB) had too launched its virtual startup incubation and acceleration arm called DLabs, which connects startups with mentors and investors who can help the business reach new heights.

In the same month, NetApp Inc., a Fortune 500 American multinational storage and data management company had also launched a startup accelerator program in Bengaluru called NetApp Excellerator programme, which was company’s first startup nurturing initiative in India.

Post a Comment

Previous Post Next Post

Related Readings