When did the Oracle Startup Cloud Accelerator program officially launch?
The Oracle Startup Cloud Accelerator program was announced on April 7, 2016 with the launch of the inaugural program in Bangalore, India. In January 2017, Oracle announced the global expansion of the program, a multimillion-dollar investment for startups worldwide. The first phase of the global expansion included Bristol (UK), Delhi-NCR, Mumbai, Paris, São Paulo, Singapore, and Tel Aviv.
What is the Oracle Startup Cloud Accelerator?
Oracle Startup Cloud Accelerator is not your traditional accelerator program. It’s a next-generation acceleration initiative with a focus on reimagining enterprise innovation—through true collaborations with startups—that fosters co-development and co-innovation, where we all win. It is about driving business ingenuity for all—across startups, our business, and our customers—while pushing the boundaries of innovation and helping to drive the global economy. Benefits to startups include the following:
- Free Oracle Cloud Access
- World-class mentorship and advising
- Engagement opportunities with Oracle’s 400,000+ customers
- Hands-on engagement with R&D teams
- Coworking space and amenities
- Investor connection and engagement
- Customized curriculum and business development
What makes this program different?
- We don’t take equity.
- It’s run by our global R&D team.
- Participants get access to Oracle Cloud for free, with the enterprise expertise and global resources to match
- Startups have engagement opportunities with Oracle’s more than 400,000 customers, with a strategic program to help grow their business.
The Oracle Startup Cloud Accelerator program is unique in that it is run by Oracle’s R&D teams, as opposed to marketing or sales, and gives startups up-close and intimate access to Oracle’s global resources and talent. With more than 400,000 enterprise customers worldwide, no company is better positioned than Oracle to deliver a program like this for the ever-expanding global startup ecosystem.
What are Oracle’s goals for the Oracle Startup Cloud Accelerator?
Startups are at the heart of innovation. Supporting and growing that ecosystem is critical for our business, our customers’ businesses, and pushing the boundaries of innovation for all. The next five-to-ten years promise revolutionary innovation and growth that will be the catalyst for new business ideas—all enabled by cloud technology. This program will provide access to practical support, global resources, and expertise when startups need it most.
Why expand the program now?
Entrepreneurialism is at an all-time high. Startups are spreading globally, outside the traditional startup epicenters, and they need support and resources. While Silicon Valley continues to dominate the startup ecosystem ranking, growing at a 47 percent growth rate over the last two years, other ecosystems like India and Brazil are growing at a much faster pace. Cloud is helping enable this growth, allowing businesses of all sizes to innovate and scale quickly in today’s competitive environment, spurring a generation of cloud-first business strategies. Extending the power of Oracle Cloud alongside our expertise and global resources—with startup ingenuit—we can together help drive innovation and lead the next wave of technological revolutions.
What does Oracle know about startups?
Oracle has always been involved with startups and the startup ecosystem. After all, we were a startup almost 40 years ago. From 1977—when we were a startup—and continuing today, Oracle has partnered with startups and understands the journey that transforms an idea into an enterprise. We have been actively supporting startups in countries and cities worldwide, but it has been on a regional and local basis. These initiatives will be enhanced and incorporated into the global program. The Oracle Startup Cloud Accelerator program allows us to apply a more strategic approach that enables us to drastically increase our resources and impact to the global startup ecosystem.
How do companies qualify for the program?
The Oracle Startup Cloud Accelerator program is intended to provide support for technology-based and -enabled companies. The startup’s product or service should have the potential to make an impact on customers in the specific industry segment being targeted. Prospective startup applicants will be reviewed through a meticulous qualification process. Once the application window opens, startups can apply online and follow the timeline for the program selection process. Initially the program will accept five to six startups in each city.
How long does the program run?
The startups selected will enjoy the benefits of a six-month acceleration program facilitated by technical and business experts from the industry and Oracle. Startups are also eligible for our global alumni program upon graduation that includes many benefits to continue to enable their growth.
Do startup participants need to be at the accelerator location for the duration of the program?
It is not mandatory to be at the co-working facility 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 office location can have access to that location’s onsite amenities, which can include fully stocked pantries, access to gym facilities, and more.
What happens after the program ends?
On the last day of the program, startups will be given the opportunity to pitch their idea and give a demo to technology investors and leaders on a day called “Startup Showcase.” Graduating startups can also be enrolled in the Oracle Startup Cloud Accelerator alumni program. Select startups will have opportunities to participate with Oracle at key events like Oracle OpenWorld and Oracle CloudWorld, as well as third-party events.
The alumni program will provide extended resources to startups, including Oracle Cloud credits and discounts, ongoing access to the mentor network and networking platform, and growing partnerships with the ecosystem and peer startups.
Can you tell us more about the mentoring process?
Mentoring for startups in the program will be delivered by both Oracle leaders from around the globe and external experts. External mentors will include CTOs and CIOs of startups, others in peer organizations, and members of the Oracle Startup Cloud Accelerator Advisory Board, who are startup pioneers.
Is Oracle investing or taking equity in any of the startups?
No. Oracle offers facilities, support, expertise, and advice, as well as access to our world-class cloud services, which represent a big step up in enterprise functionality and capability for these companies. While we do not provide funding, we will facilitate connecting startups in the program with venture capitalists and angel investors.
Who is leading the Oracle Startup Cloud Accelerator program?
Oracle named three-time entrepreneur and Senior Vice President Reggie Bradford to help expand the program globally, working alongside Sanket Atal, group vice president of development for Oracle. Atal launched the pilot program in India.
Can Oracle employees apply for the program?
Currently this program is for non-Oracle employees. However, exceptions are possible on a case-by-case basis. It is, however, open to Oracle alumni.
How can an Oracle employee apply to be a mentor?
We encourage participation from our global employee base; mentors have to meet certain requirements and have a certain skill set. For more information, please reach out to us. We can be reached via email at firstname.lastname@example.org, or through our social channels, Twitter, Facebook, or LinkedIn (coming soon).
Why was Bangalore chosen for the first program?
The selection of Bangalore was in part due to Oracle CEO Safra Catz’s meeting with Prime Minister of India Shri Narendra Modi and a series of investments announced as part of Oracle’s expansion in India and support of Digital India initiatives. Additionally, India is a hot startup market, particularly Bangalore, and projected to continue rapid growth and innovation. According to the Global Startup Ecosystem Ranking 2015 by Compass, Bangalore ranks as the 15th city for startups globally.
What is the process to select a location for the program?
It’s a combination of several strategic components including, but not limited to, the market’s startup activity and interest; global ranking; existing Oracle entrepreneurial programs; and R&D resources and facilities.
Will the expansion eventually include all regions? Why were these seven locations chosen for the initial program expansion?
Oracle Startup Cloud Accelerator is a global program and will expand across regions including North America, Asia Pacific, Europe, Middle East, and Africa. Oracle teams in Paris and Bristol already had startup initiatives they’ve been successfully running, so broadening and enhancing engagements already initiated in these markets makes strategic sense. São Paulo, Singapore, and Tel Aviv are hot startup markets where we have strong Oracle resources to get up and running quickly. Delhi and Mumbai are strong startup expansions for India.
How much money is Oracle devoting to the expansion of the startup program?
We plan a multimillion-dollar investment with the global resources and expertise of our mentors, customers, partners, technologies, facilities, and more. Additionally, Oracle will further support startup ecosystems through active participation with global and local sponsorships, events, PR, thought leadership, and other resources.
How do we contact the Oracle Startup Cloud Accelerator team?