Announcement of SAP.iO Fund
23 Mar 17
SAP today announced the SAP.iO Fund, seeded with an initial investment of US$35 million, to make early-stage investments in software startups that will expand the SAP® ecosystem. The fund is just one component of the SAP.iO open innovation model, which enables innovators both inside and outside SAP to use the power of SAP data, application programming interfaces (APIs) and platform technologies to unlock new value for customers.
As part of the announcement, SAP.iO launched the global SAP.iO Foundry program to incubate early-stage startups that build software applications, including those using frontier technologies such as machine learning and blockchain. Locations are the SAP.iO Foundry in San Francisco and the SAP.iO Foundry, powered by Techstars Accelerator in Berlin — this location will be managed by Techstars, a worldwide entrepreneur network. These new foundry locations will complement existing SAP.iO startup incubation partnerships with Techstars IoT in New York City and the Junction in Tel Aviv.
- Fund focuses on making early-stage investments in software startups to expand the SAP ecosystem
- SAP.iO launches new global foundries in San Francisco and Berlin to support and accelerate early-stage startup incubation
- SAP.iO makes first seed investment in Paradata, a Silicon Valley–based Big Data analytics startup
SAP.iO is growing a generation of revolutionary software businesses in the SAP ecosystem and supports visionary entrepreneurs leveraging SAP data, APIs and technologies to build products, find customers and change industries. SAP.iO uses the same unique assets to empower startup teams within SAP to transform the way businesses are run. For more information, visit http://sap.io/.
- SAP.io Press Release -3 23 17 - FINAL.pdf (312.7 kB)