German multinational SAP SE announced the first foundry program by its venture capital arm SAP.iO in Tel Aviv this week with seven Israeli startups.
SAP first announced the foundry program in Tel Aviv earlier this year and said it would focus on early-stage startups using deep tech to build innovative software.
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“We are excited to welcome these entrepreneurs to the SAP.iO family and help them accelerate their business with SAP,” said Alexa Gorman, head of SAP.iO Foundries EMEA (Europe, Mideast, and Africa). “We recognize that Israel has a dynamic high-tech ecosystem and our Tel Aviv Foundry reflects our commitment to the Israeli ecosystem.”
The selected startups will have SAP’s support and access to its technological expertise, the multinational said in a statement.
“We believe in their ability to offer a variety of advanced solutions for SAP’s customers,” said Orna Kleinmann, managing director at SAP Labs Israel and SVP Technology & Innovation Cloud Experience, of the Israeli startups.
The seven selected startups for the 12-week program are:
- ARpalus, a Caesaria-based AR and predictive analytics retail technology startup founded just this year. ARpalus is building a platform for the automatic collection and deep analysis of shoppers’ behavioral data.
- EasySend, a Tel Aviv startup founded in 2016 that helps financial enterprises improve customer experience and increase operational efficiency through a platform that enables businesses to present customers with digital forms in a simple interface.
- GrowthSpace, a startup developing a tailored online coaching platform for enterprise employees.
- Outgage, a SaaS “marketing first” direct mail platform for email marketing and analytics.
- Silverback, a Tel Aviv startup founded in 2014 that built a sales intelligence platform for online marketplaces.
- Supersmart, a Rosh Ha’ayin-based retail tech startup founded in 2014 that provides a “Scan&Go” solution with advanced loss prevention capabilities, enabling consumers to instantly check out their fully- loaded cart or basket.
- YOUTILIGENT, a Petah Tikva startup founded in 2016 that developed a connected consumer solution for connected appliances using machine learning and IoT tech.
SAP also has accelerators in six strategic startup hubs, including Paris, Berlin, Munich, New York City, San Francisco, and Tokyo. SAP says that since the SAP.iO Foundries were formally launched in early 2017, they have accelerated the growth of over 100 startups.
SAP first established its R&D center in Israel in 1998. The center leads SAP Cloud Platform development for the company, while also specializing in machine learning and user identity management. The center also leads strategic partnerships, startup acquisitions, and internal innovation initiatives.