Oracle launches its first Startup Incubation Centre in Bengaluru
Oracle India has announced the creation of its first Startup incubation centre in Bengaluru. In total, Oracle will set up 9 incubation facilities in the country. Cities like Pune, Hyderabad, Chennai will be added later in the initiative.
‘Oracle Startup Cloud Accelerator’ in Bengaluru will become operative from 8th April 2016. The accelerator will be open to early-stage tech and tech-enabled startups working on creating products which are impactful and services and the costs of using it will also be very low.
Oracle Startup Cloud Accelerator will provide Startups co-working space, mentoring, tech support and access to existing Oracle customers and partners along with access to investors and with free credits on Oracle Cloud. The accelerator will focus mainly on micro, small and medium Startups.
Though Oracle has a VC arm of its own, the company is not looking at this initiative as an extension of Venture investment activities of the company. Though Oracle has not disclosed the exact amount to be invested in this initiative, speculations suggest it to be a multi million dollar initiative.
The initiative by oracle will augment the ongoing steps taken by the central government to boost entrepreneurship in the country through its Startup India scheme.