SAP launched its first Foundry for Tel Aviv to support early stage startups

SAP announced the launch of its first SAP.iO Foundry for Tel Aviv. The Tel Aviv location is designed to help and support early stage business-to-business (B2B) startups build innovative software and deliver high value for SAP customers.
The 12-week startup accelerator program commences in July 2019 and will comprise of up to 10 start-ups focused on deep technology and the intelligent enterprise to deliver incremental value to SAP’s customers. The official announcement was made on the main stage at OurCrowd Summit 2019, Jerusalem, by Ram Jambunathan, senior vice president and managing director of SAP.iO. 
“The SAP.iO Foundry Tel Aviv represents the next phase of SAP’s commitment to Israel’s dynamic startup ecosystem,” said Ram Jambunathan, Managing Director of SAP.iO. “We are excited to work with and help Israeli startups scale with our value proposition of curated mentorship, exposure to SAP data and technologies, and opportunities to meet and collaborate with SAP unparalleled, global base of enterprise customers.” 
The SAP.iO Foundry Tel Aviv will be located in the gravity center of the startup scene in Tel Aviv. 
"Israel’s one-of-a-kind vibrant ecosystem is home to thousands of unique startups, several of which will enjoy and benefit from SAP Israels R&D Center's professional tech expertise and the Foundry's business know-how. We look forward to creating new exciting solutions and opportunities for SAP customers," said Orna Kleinmann, MD of SAP Israel R&D Center & SVP Technology & Innovation Cloud Experience.
The SAP.iO Foundries are SAP’s global network of top-tier startup programs, including accelerators that enable startups to build innovative software that deliver value for SAP customers. Today, there are SAP.iO Foundries in 6 strategic startup hubs, including Paris, Berlin, Munich, New York City, San Francisco and Tokyo. The SAP.iO Foundries were formally launched early 2017 and to-date have accelerated the growth of over 100 startups of the early stage intelligent enterprise ecosystem. 
Startups interested in participating in SAP.iO Foundry Tel Aviv should apply until May 23. 
 SAP.iO program is fueling an early-stage ecosystem of innovation for SAP by investing in and accelerating entrepreneurs building great software. The SAP.iO Fund directly invests in visionary, early-stage startups that leverage SAP’s unique assets, including data, APIs and platform technologies from SAP, to deliver extraordinary value for SAP customers. The SAP.iO Foundries is a top-tier program that provides select startups with exposure to data and technologies from SAP as well as opportunities for to SAP meet and collaborate with SAP customers. Current locations of SAP.iO Foundries are in major startup hubs, including Paris, Berlin, Tel Aviv, New York City and San Francisco.The SAP.iO Venture Studio helps internal talent build successful businesses that enable customers to solve big problems.
SAP is the market leader in enterprise application software, helping companies of all sizes and in all industries run at their best: 77% of the world’s transaction revenue touches an SAP system. Our machine learning, IoT, and advanced analytics technologies help turn customers’ businesses into intelligent enterprises. SAP gives people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want – without disruption. Our end-to-end suite of applications and services enable more than 413,000 business and public customers to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people’s lives. 
SAP R&D center in Israel (Raanana and Tel Aviv) was established in 1998, and is a vital part of SAP's global development network. The center leads SAP Cloud Platform development for the company, while also specializing in Machine learning and user identity management. The center injects disruptive innovation into SAP through strategic partnerships, ecosystem engagements, startup acquisitions and internal innovation initiatives.