SAP has launched an acceleration programme in Singapore giving local tech startups access to a funding pool of S$10 million (US$7.28 million) and mentorship from industry experts.
First announced last October, the SAP Startup Focus Acceleration Program will see the software vendor work with ICT regulator Infocomm Development Authority and ACP Ventures, a Singapore-based investment firm. The initiative spans two years and aims to offer startups the necessary technology, resources, and community support to develop products on SAP's HANA platform.
"The program is open to technology-based startups with a vision for making an impact on smart cities through big data, predictive analytics, or real-time data solutions," SAP said in a statement. It added that senior executives from the company, as well as entrepreneurs, investors, and business leaders will provide mentorship to startups approved under the programme.
SAP also will provide access to hardware and software to support development work on proof-of-concepts and pilot projects.
"Startups play a critical role in spurring innovation and Singapore provides a very conducive and vibrant environment for entrepreneurs, especially with many opportunities around Singapore's smart nation push,"said Francois Lancon, president and managing director for SAP Southeast Asia.
The vendor runs the startup support programme globally, signing up more than 1,250 startups in 55 countries, it said. These include Singapore-based startups, ZelRealm Interactive and YFind Technologies, and the initiative also has technology partners such as Intel and VMWare.