More industrial wisdom for Indian startups. German multinational software corporation SAP has launched a Startup Accelerator program in partnership with SINE, IIT Bombay. SINE(Society for Innovation and Entrepreneurship) is a technology and business incubator at the IIT-Bombay (IIT-B) campus.
The program aims to mentor and accelerate the business growth of tech-based social startups. It will help 10 such startups over the next year.
Taking about their partnership , SAP Labs India MD Dilipkumar Khandelwal said,
The partnership with IIT-Bombay will further our existing efforts on strengthening the entrepreneurship ecosystem. So far, SAP has impacted over 250 startups, accelerated and mentored 20 startups and social enterprises to make them investible and enable their next stage of growth.
SINE will also support the new technology startups through a business incubator to help them set up a sustainable business. SAP also launched an Innovation Centre in IIT Bombay. This centre will host research projects in association with Computer Science department at IIT-B.
Through its university crowdsourcing platform SAP Mile, the centre will also allow students to participate in virtual internships and work on company’s own product ideas and solutions.
SAP also works with other leading Indian universities to encourage regional startup ecosystem through its accelerator programs. It supports social enterprises and startups by providing mentorship and capacity building to them.
The company however, isn’t new to India’s startup scene. It also introduced another accelerator program called SAP Startup Studio recently. The programme aims to support Indian startups with a complete ecosystem. This includes mentorship, work environment with access to experts, infrastructure, and technology support to early stage start-up ventures.