SAP.iO, the accelerator program of SAP Software Solutions announces a collaboration with 2 SAP clients, E.ON Innovation, which is the German energy giant’s strategic innovation arm, and Israel’s Electric Corporation (IEC). The collaboration will culminate in an upcoming opening of a startup accelerator in Tel Aviv, aimed at curating startups with a focus on energy and utilities-related solutions.

This will be SAP.iO Foundry Israel's 3rd batch, with this one being focused on the utility and energy sectors. The zero-equity-ask program provides startups with expertise and support from within and outside of SAP, exposure to SAP technologies, and opportunities to collaborate with SAP customers globally.

The 12-week SAP.iO Foundry Tel Aviv program is designed to accelerate innovation and drive new business models for SAP’s customers. The SAP.iO Foundries are SAP’s global network of equity-free startup accelerators that help promising early-stage startups integrate with SAP solutions and accelerate their entry into a curated, inclusive ecosystem whose offerings can be easily accessed and deployed by SAP customers. Current locations of SAP.iO Foundries are in major startup hubs, including Paris, Berlin, Tel Aviv, Munich, New York, San Francisco, Singapore, Tokyo, and Bangalore.

“Today, SAP’s solutions serve 45 out of 50 of the largest energy producers in the world, supporting them in becoming intelligent enterprises. This program will allow us to explore, embrace and share new market insights and solutions with our clients.” says Lior Weizman, Director of SAP.iO Foundry Tel Aviv in Israel.

As dictated by the agreement with SAP.iO, both of the partnering energy providers, E.ON and IEC will take an active part in the startup selection process as well as provide guidance to the startups, which in turn will present the energy giants with first access to potentially game-changing innovation, through the program.

“We are looking forward to joining forces with SAP.iO in the effort to discover innovative solutions that will contribute to creating a sustainable energy world. The combined reach and know-how of both companies will bring huge benefits to startups who are ready to scale with international companies. Israel is just the right place to foster such a collaboration”, says Mickey Steiner, Head of E.ON activities in Israel.

“As IEC is Israel’s major utility, we believe this is a great opportunity for start-up companies to work with IEC’s experts in order to commercialize their products in theStartup Nation,” says Zviya Baron Head of Innovation at IEC.