With the objective of catalyzing India's nascent startup ecosystem and provide a fillip to Prime Minister Narendra Modi's Startup India and Skill India initiatives, Oracle says it plans to open 1400 institutions under the 'Oracle Academy' programme to train 500,000 students annually.
"Oracle Academy currently partners with 1700 educational institution and has trained 400,000 plus students In India. With a goal of reaching 500,000 students annually, we are committed to open another 1400 institution and train another 100,000 students. This is the technology foundation we are building for the startups and SMBs," Oracle's Senior VP of Cloud, Shawn Price told Economictimes.com.
The California-based technology company is betting big on India as it looks for a deeper engagement in the fastest growing major economy in the world.
At the beginning of the year Oracle announced the decision to set up nine innovation centers in India when the company's Oracle CEO Safra Catz met PM Modi. Early April, the company opened a global-first incubation center - Oracle Startup Accelerator in Bengaluru.
Several more centres are slated to launch later in Chennai, Gurgaon, Hyderabad, Mumbai, Noida, Pune, Trivandrum and Vijayawada. Oracle's Group Vice President, Sanket Atal, will be leading the initiative. The company through Oracle Startup Cloud Accelerator aims to help speed up a startup's development through combination of technical and business mentoring.
"Through Oracle Startup Cloud Accelerator and growing popularity of cloud as an alternate computing model, we want to be the catalyst for new business ideas. 'Startup India' initiative matches our agenda of fostering entrepreneurship and promoting innovation by creating the right ecosystem for growth and development," Oracle's President of Product Development, Thomas Kurian said.
According to Oracle, Startup Accelerator will help startup companies in India in three ways. Firstly, Oracle will give access to its technology or software through Oracle cloud.
Secondly, a startup will get structured mentoring from the advisory board, which consist of experienced people from the investing community and a set of people who are luminaries in the industries. Thirdly, Oracle will give start-ups the access to Oracle's customers and partners, access to investors and free credits on Oracle Cloud.
Many companies contacted Oracle for the Bengaluru incubation centre, Kurian said.
"We have an investment venture. Our goal of this launch is to make sure startups are successful and not to look at the startup accelerator programme as an investment tool for Oracle," he added.
Oracle Startup Cloud Accelerator is open to early-stage technology and technology-enabled startups who are building innovative solutions. However, the service should have the potential to make an impact on customers in the specific industry segment they are targeting.
According to Oracle, the company is also enabling startup companies leverage platforms such as PaaS or Platform as a Service to out-perform their competition with operational efficiency while providing better visibility.
"PaaS is cost effective and helps companies rapidly develop new solutions. Startups can now build an application in Oracle cloud and ship it on a device in six days. At 10 cents an hour startups can get one core of CPU on Oracles cloud," Oracle Asia Pacific, Group Vice President and Chief Architect, Core Technology and Cloud, Christopher G Chelliah told Economictimes.com.
"With the Startup cloud accelerator we are able to take company's virtualisation tech KVM, HYPER-V, OVM (Oracle Virtual Machine) workloads and move on to the public cloud without changing any code or tool sets." he added.
Not disclosing the actual number on cloud adoption by SMBs and Startups in India, Chelliah said that there are 400 ERP (Enterprise Resource Planning) customers on the Oracle cloud platform.
The Oracle Startup Accelerator targets midsize firms, including MSMEs (micro, small, medium sized enterprises) and start-ups, which are recognised as a highly vibrant and dynamic sector of the Indian economy that contributes more than 37 percent to India's GDP.
Prospective start-up applicants will be reviewed through a qualification process. Start-ups can apply online till May 5, 2016. The selected start-ups will get benefits of a six month acceleration facilitated by technical and business experts from industry and Oracle.