A fin-tech company, an augmented reality solutions company and a mobile-first automated employee on-boarding platform are among the five startups selected by computer technology giant Oracle for the maiden edition of its startup accelerator programme.
Christened Oracle Startup Cloud Accelerator Programme, it is a global startup accelerator initiative by Oracle with the Indian arm leading the programme. The programme, besides targeting startups, also looks at midsize firms including micro, small and medium enterprises (MSMEs) for this initiative. A spokesperson for the company said that the programme will be India focused for now and may be extended across other global centres later.
The entrepreneurial spirit in our country is going through a complete revolution. We see cloud technology playing a crucial role in enabling this change," said Sanket Atal, group vice president of development, Oracle India, in a statement.
The startups were evaluated for their business concept, level of innovation, scalability and potential to solve real-life problems of customers and to make an impact on the segment of society on which they were focused. Here are the five startups that have been chosen for the accelerator programme:
ExpertRec: The startup has developed a plug-n-play search and recommendation engine for online marketplaces in an easy to use software-as-a-service (SaaS) integration module. Customers need to add a single line of code to enable these advanced features on their website.
Niyo Solutions: A fin-tech startup focused on alternate payment mechanisms.
Ray iCare: An Internet of Things (IoT) and artificial intelligence (AI) solutions company, it has built a sleep monitoring device that can diagnose epilepsy, sudden infant death syndrome and heart attacks. It can be installed on a wall and uses artificial intelligence to notify attacks to care-givers through a mobile app.
Tydy: A mobile-first, automated employee on-boarding platform. It gives executives a clear view on the performance of the on-boarding process - a process that was never before quantifiable.
An augmented reality (AR)/virtual reality (VR) technology platform which is device agnostic. It can be used by brands to distribute their content and campaigns to end users through augmented/virtual reality.
The five finalists will receive 125 hours of combined mentorship from Oracle and industry experts, 24x7 access to a co-working space within Oracle's premises, access to Oracle's vast ecosystem of customers and partners, ongoing interactions and sessions with the investor community and free access to Oracle Cloud including training as part of the six-month programme.
On the last day of the programme, startups will be given the opportunity to pitch their idea to technology investors and leaders. Graduating startups will be enrolled in the Oracle Startup Cloud Accelerator's alumni programme, that will provide extended support to these startups. Qualifying startups will also gain fast-track membership into Oracle Partner Network, which now includes about 25,000 consultants, integrators, value-added resellers, and other similar firms worldwide that have earned special access to Oracle demonstration environments, Oracle expertise, and joint marketing and sales programmes.
In February, Oracle CEO Safra Catz had unveiled a massive, state-of- the-art campus in Bangalore, nine incubation centres throughout India, and an initiative to train more than half a million students each year to develop computer science skills as part of its startup initiatives. The shortlisted companies will work within the premises of this campus.
Likewise, the nine incubation centres located in Bangalore, Chennai, Gurgaon, Hyderabad, Mumbai, Noida, Pune, Thiruvananthapuram and Vijayawada will support entrepreneurship and development of startups by providing software, tools, and training to new software and technology companies utilising Java and the Oracle platform.
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