At the beginning of 2019, software giant SAP decided on the expansion of SAP.iO Foundry’s activity in Israel. SAP.iO is part of the SAP ecosystem, a branch that actively invests and develops collaborations with startups from around the world. The group has two main functions: SAP.iO Fund, through which the company invests in startups during their first steps; and SAP.iO Foundry, which is a 12-week accelerator program found in numerous cities around the world, among them, New York, Berlin, Tel Aviv, Singapore, San Francisco, Tokyo, Paris, and Munich. The program’s objective is to support selected startups by giving them access to SAP’s extensive list of clients, while also accompanying these startups with business mentors and technology experts. Since its beginning in 2017 and until today, 165 startup companies from around the world have participated in the program.
Tech advice & international exposure
The program is intended for companies who are already after Seed Funding or Round A. Companies that develop B2B Enterprise Software, and that its integration into SAP systems is part of their Roadmap or demands coming from potential clients. The second cycle had started in May 2020, focusing on companies that develop solutions for the Consumer Products industry. Meaning startup companies that develop solutions in Supply Chain, Manufacturing, Marketing, Product Development, and Sales, with their target market being Consumer Products.
The program is focused on three main channels: The Tech channel, where startups will receive guidance and technological consult from SAP regarding optimal integration with its various systems and solutions; the Business channel, where startups will be assigned a value that they bring SAP’s clients, then under guidance build a work plan and connect with the right people at SAP to achieve global exposure for the startup; and the Image channel, where startups will enjoy global exposure through various marketing channels and SAP’s own PR department, as well as through a Demo-Day at the end of the program.
A focused work plan for each startup
Additionally, during the program, startups will be given support to SAP’s partnership program - SAP PartnerEdge, as well as support with uploading solutions to the company’s app catalog - SAP AppCenter. The participating startups won’t have to give up equity, furthermore, they will be able to take advantage of the dedicated work area at LABS TLV throughout the program.
Israel’s SAP.iO Foundry is directed by Lior Weizman, who previously led the IBM Alpha Zone accelerator in Israel, and at his last position at Deloitte, extensively worked on connecting startups with corporations.
