Earlier this year, during the first visit to India, Oracle CEO Safra Catz had committed $400 million investment along with many other initiatives. Now, going ahead with its plans of participating in Digital India and Startup India initiatives, Oracle has finalised the first group of Indian startups who will be a part of Oracle Startup Cloud Accelerator program.
The program was launched in April with the opening of the accelerator in Bengaluru. Under this first-of-its-kind program by Oracle, early-stage technology startups and MSMEs will get technical and business mentoring by Oracle.
The startups need to be building innovative and scalable solutions to solve real-life problems for their customers. Their product/service must have the potential to make an impact on the targetted customer segment in addition to being a cloud-based solution.
The first group startups include ExpertRec ( plug and play search and recommendation engine for online marketplaces), Niyo Solutions (a Fin-Tech startup focussed on alternate payment mechanisms), Ray iCare ( a sleep monitoring device for Epilepsy, Sudden Infant Death Syndrome and Cardiac Attacks), Tydy (mobile-first, automated employee onboarding platform), and Vear (AR/VR platform).
Sanket Atal, Group Vice President of Development at Oracle India who leads the accelerator program, said,
The entrepreneurial spirit in our country is going through a complete revolution. We see cloud technology playing a crucial role in enabling this change. I would like to welcome these startups and look forward to working with them to build their business ideas for a better tomorrow.
In addition to mentoring, these selected startups will also get access to coworking space, technology, investors, customers and partners of Oracle, and free credits on Oracle cloud.
Oracle will allow these startups to pitch their ideas in front of investors and leaders at the end of the program. These startups will also be enrolled in Oracle Startup Cloud Accelerator’s alumni program.
The alumni program will provide extended support to startups, including access to Oracle Cloud credits and ongoing access to the mentor network and networking platform. It will also help them in growing partnerships with other startups and companies in their ecosystem.
The first batch of the program will be held at the incubation centre in Bengaluru. The company is also planning to launch more such centres in Chennai, Gurgaon, Hyderabad, Mumbai, Noida, Pune, Trivandrum and Vijayawada.