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IT giant Oracle Corporation will set up its biggest development centre outside its US headquarters in Bengaluru with an investment of about ₹2,500 crore.
It expects to hire about 10,000 persons for the development centre, which will be set up on its land in the IT corridor. Oracle is the second-largest software maker in the world after Microsoft. The company primarily specialises in developing and marketing database software and technology, cloud engineered systems and enterprise software products.
The development centre is expected to come up in three years. Oracle interest in India has been steadily rising and it recently announced the second batch of start-ups under Oracle Startup Cloud Accelerator (OSCA).
OSCA is an accelerator which provides mentoring, co-working spaces, access to Oracle customers and its technology, among other things. Typically, five start-ups are taken as a part of this mentorship programme, which runs for 6 months. Some of the advisors include Saurabh Srivastava, Co-founder of Indian Angel Network and others from companies like Paytm, Goibibo, Yahoo Labs, InMobi and others.
Apart from Oracle, other multinationals also run accelerator programmes in India. Microsoft, Google, Amazon, Bosch, Target, Cisco and others have accelerators in the country.
Karnataka’s Minister for Industries, RV Deshpande told BusinessLine that the company’s application to set up a development centre in the IT corridor was cleared by the State High Level Clearance Committee (SHLCC) on Friday.
He said the facility will be the second biggest after its headquarters in Redwood Shores, California. Oracle will build the facility on its own land while the State government will facilitate by giving faster approvals from various departments.
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