Oracle has short listed five startups for the second edition of its cloud accelerator programme, the same number as in the first one. But the company said it received an overwhelming number of applications, signalling how cloud had reduced the entry barrier for startups. Oracle launched its global-first accelerator programme in Bengaluru last year.
The five start-ups were short listed after a rigorous process of screening over 200 applications. The number of applications received was more than double that in the last year.
The selected startups are digital locker solutions firm Ezedox, data science and predictive analytics startup Farebond, Initcodes, which has developed a framework for digital transactions, Trendlyne, a marketplace for financial services, and Sonder Con nect, a not-for-profit trust founded by women to support women entrepreneurs.
“Most startups use open source. The actual implications of using open source are much more than just using a software – it lies in configuring it, getting the latest issues resolved, and plugging the security loopholes. Oracle for them is an aspirational product. With Oracle cloud solutions out there now, they can use the same aspirational product for a reasonable price,” said Sanket Atal, group vice president of development for Oracle India.
Globally, tech firms have been increasingly partnering with startups to leverage on their tech capabilities, and expand their offerings with a differentiated posi tioning in the market. Atal said cloud has become an attractive proposition for startups to use enterprise-grade software at a fraction of the cost, thanks to a number of flexible payment options.
The accelerator programme runs for six months, and will give the startups access to mentoring, co-working space, access to Oracle’s customers, partners and investors and free credits on its Oracle Cloud platform. The company is also launching an alumni programme to extend mentoring support.
Thomas Kurian, Oracle president of product development, initiated the programme last year to support early-stage technology-enabled startups building solutions that help address the needs of Digital India.