Bangalore: Start-up culture is fast catching up in India. Hundreds of new companies are being launched in different verticals across the country. While this is visible everywhere, Information Technology (IT) is one sector where we see the most action.
Financers, mentors and a whole lot of other support seem to be falling in place at a pace that was simply unthinkable merely a couple of years ago in the country.
Oracle seems to have come as godsend for many early-stage tech startups towards establishing themselves in the intended market. After helping the first group of early-stage tech startups towards establishing successful businesses, technology giant Oracle is now mentoring another group under its Oracle Startup Cloud Accelerator Program.
The program is open to early-stage technology and technology-enabled startups who are building innovative solutions that solve real-life problems for their customers. The product or service should have the potential to make an impact on the customer segment the startup is targeting. The program runs for 24 weeks and will take five to six startups in each group. It is not mandatory to be at the Oracle office for the entire program; the team can choose to use the facility or not. However, there will be certain mandatory discussions during the program which will require the team to be present at the facility. Startups who choose to work out of the Oracle office location can use it 24×7. It has a fully stocked pantry, access to a gym facility, and internet connections.
Latest reports suggest that in the second group, Ezedox, Farebond, initCodes, Trendlyne and Sonder Connect will be mentored under Oracle Startup Cloud Accelerator. “We have had the opportunity to nurture some great ideas from the first group of startup finalists. I am now looking forward to working with our new start-ups,” said Sanket Atal, Group Vice President of Development in Oracle India, in a statement on Thursday. The second group of finalists started operating from the accelerator centre on January 10.
The software giant launched its global startup accelerator initiative, called ‘Oracle Startup Cloud Accelerator’ programme in April 2016 with an aim to help speed up a startup’s development through a combination of technical and business mentoring. Among the first group of startups, ExpertRec has developed a machine learning-based, plug and play search and recommendation solution for online marketplaces while NiYO Solutions focused on alternate payment mechanisms. Ray IoT Solutions has developed a mobile-based sleep monitoring device to detect infant healthcare dysfunctions and Tydy provides a mobile first, automated employee on-boarding platform. Another startup Vear provides a device-agnostic, augmented and virtual reality platform for content distribution and marketing.
“One of the key focus areas for Oracle Startup Cloud Accelerator is to support and provide women entrepreneurs the relevant resources for them to grow their businesses. Our collaboration with Sonder Connect is one of the many steps in this direction as we support the start-up ecosystem,” Atal said.