WALLDORF, Germany, March 23, 2017 /PRNewswire/ -- SAP SE (NYSE:
SAP) today announced the SAP.iO Fund, seeded with an initial
investment of US$35 million, to make
early-stage investments in software startups that will expand the
SAP® ecosystem. The fund is just one component of the SAP.iO open
innovation model, which enables innovators both inside and outside
SAP to use the power of SAP data, application programming
interfaces (APIs) and platform technologies to unlock new value for
customers.
As part of the announcement, SAP.iO launched the global SAP.iO
Foundry program to incubate early-stage startups that build
software applications, including those using frontier technologies
such as machine learning and blockchain. Locations are the SAP.iO
Foundry in San Francisco and the
SAP.iO Foundry, powered by Techstars Accelerator in Berlin — this location will be managed by
Techstars, a worldwide entrepreneur network. These new foundry
locations will complement existing SAP.iO startup incubation
partnerships with Techstars IoT in New
York City and the Junction in Tel
Aviv.
"Our open innovation model continues to deliver value to our
customers," said Deepak
Krishnamurthy, chief strategy officer, SAP. "In addition to
empowering our employee innovators, SAP.iO will use its fund and
foundries to invest in entrepreneurs that develop industry-changing
software."
The first startup to receive funding from SAP.iO is Parable
Sciences, Inc. (known as Paradata), a Big Data analytics company
based in San Jose, Calif.
Paradata's use of machine learning to offer greater supply chain
transparency complements SAP Ariba® solution capabilities in direct
material sourcing and supply chain visibility. In addition to
funding, SAP.iO and SAP will provide the startup with
mentorship, customer introductions and access to platform
integrations and APIs that will help Paradata deliver new and
unique opportunities for customers.
SAP creates and supports a culture of innovation across its
entire ecosystem to develop technology that is critical to
supporting SAP customers' journeys to digitization. Among the many
paths to innovation at SAP is SAP Labs Network, which includes 19
labs across 16 countries; SAP Innovation Center Network, comprising
10 locations globally that focus on new ideas in a startup-like
environment; and intrapreneurship opportunities and incubators such
as SAP.iO.
"SAP.iO will create a new ecosystem to help accelerate digital
transformation for our 350,000 customers," said Bill McDermott, CEO of SAP. "We have a message
for entrepreneurs: if you have a bold dream to solve one of the
world's most significant challenges, join us and let's chase your
dream together."
For more information, visit the SAP News Center. Follow SAP on
Twitter at @sapnews.
About SAP.iO
SAP.iO is growing a generation of
revolutionary software businesses in the SAP ecosystem and supports
visionary entrepreneurs leveraging SAP data, APIs and technologies
to build products, find customers and change industries. SAP.iO
uses the same unique assets to empower startup teams within SAP to
transform the way businesses are run. For more information, visit
http://sap.io/.
About SAP
As market leader in enterprise application software, SAP (NYSE:
SAP) helps companies of all sizes and industries run better. From
back office to boardroom, warehouse to storefront, desktop to
mobile device – SAP empowers people and organizations to work
together more efficiently and use business insight more effectively
to stay ahead of the competition. SAP applications and services
enable more than 345,000 business and public sector customers to
operate profitably, adapt continuously, and grow sustainably. For
more information, visit www.sap.com.
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products:
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United States Only: 1 (800) 872-1SAP (1-800-872-1727)
For more information, press only:
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SAP News Center press room; press@sap.com
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SOURCE SAP SE