Oracle is expanding its Startup Cloud Accelerator program, launched in Bangalore, India, in April 2016, to seven other cities worldwide: two more in India (Delhi and Mumbai); Bristol, England; Paris; Singapore; Tel Aviv, Israel; and São Paulo, Brazil.
Run by members of the Oracle R&D team, the program gives select early-stage technology and technology-powered startups six months of mentoring from technical and business experts aligned with the participant company’s core business. It also provides a co-working space for those six months; access to Oracle customers, partners, and investors; and free credits for Oracle software-, platform-, infrastructure-, and data-as-a-service offerings. And it plugs participants into an ever-expanding global network of startup peers.
Startup participants that show promise can apply for an extension for Oracle Cloud credits only, not for the full program. Oracle is making a multimillion-dollar investment in the program, though it isn’t investing in any of the startups.
In June, two months after the launch of the Oracle Startup Cloud Accelerator program in Bangalore, Oracle winnowed hundreds of applicants down to the first five participants: ExpertRec, a search and recommendation engine for online marketplaces; Niyo Solutions, a financial technology startup focused on alternate payment mechanisms; Riot Solutions, which makes a sleep-monitoring device that uses artificial intelligence to notify caregivers of epilepsy, sudden infant death syndrome, or cardiac episodes; Tydy, whose mobile platform gives executives a view into the performance of their companies’ onboarding processes; and Vear, maker of an augmented reality/virtual reality content-distribution platform.
Riot Solutions has gone into mass production. Four of the five startups have secured funding. Some of them have been approached by investors and organizations for possible acquisition. Meantime, a second group in Bangalore started in January 2017.
“The Oracle Startup Cloud Accelerator has been, without a doubt, the greatest launch pad for us,” says Aardra Kannan Ambili, cofounder and CTO of Riot Solutions. “Thanks to Oracle, we are now a fast-growing startup with seed investment.”
Why now expand the Oracle Startup Cloud Accelerator program globally? Startups are spreading outside the traditional venture capital epicenters, and they need support and resources, Oracle reasons. While Silicon Valley continues to be the main locus of startup activity, ecosystems in India, Brazil, and other countries are growing faster. Cloud services are helping to drive this growth, letting businesses of all sizes innovate and scale quickly. Oracle’s cloud expertise and global resources make it an ideal partner, the company says.
Oracle teams already are running startup initiatives in Bristol and Paris, while Mumbai, Delhi, Singapore, Tel Aviv, and São Paulo are hot startup markets where Oracle has a strong presence. Oracle says it will announce additional program locations in the coming months across strategic locations worldwide. Initially, the program will accept five to six startups in each city.
Reggie Bradford, Oracle senior vice president of product development and a serial entrepreneur himself, is leading the program expansion, alongside Sanket Atal, Oracle’s Bangalore-based group vice president of development, who oversaw the launch of the pilot program.
“The next five to ten years promise innovations and growth that will drive new business ideas enabled by cloud,” Bradford says. “Oracle understands that startups are at the heart of innovation. This program aims to give startups access to extensive resources and support when they need it most.”
A call for applications will open in spring 2017 in each of the seven new Oracle Startup Cloud Accelerator hubs. You can sign up to receive more information at the new global site.