Enterprise software giant Oracle announced the launch of its first start-up incubation centre in India on Thursday.

Called the ‘Oracle Startup Cloud Accelerator’, the centre will open in Bengaluru on April 8. Several more centres are slated to launch later in Chennai, Gurgaon, Hyderabad, Mumbai, Noida, Pune, Thiruvananthapuram and Vijayawada. Oracle’s Sanket Atal, Group Vice-President of Development, would lead the initiative, the company said in a statement.

“India is at an exciting phase of growth, innovation and development,” said Thomas Kurian. “Through the Oracle Startup Cloud Accelerator and the growing popularity of cloud as an alternate computing model, we want to be the catalyst for new business ideas. We are committed to furthering the Centre’s ‘Startup India’ initiative. It matches our agenda of fostering entrepreneurship and promoting innovation by creating the right ecosystem for growth and development.”

Oracle India will lead the Oracle Startup Cloud Accelerator initiative for the company. Oracle Startup Cloud Accelerator will provide them mentoring, technology, co-working space, access to Oracle customers and partners, access to investors and with free credits on Oracle Cloud.

The initiative targets midsize firms, including micro, small, medium-sized enterprises and start-ups, which are recognised as a vibrant and dynamic sector of the Indian economy that contributes more than 37 per cent to India’s GDP.

“We chose Bengaluru for our first centre since it is the second best funded start-up hub in the world outside the US,” added Kurian.

Oracle Startup Cloud Accelerator is open to early-stage technology and technology-enabled startups that are building innovative solutions. Prospective startup applicants will be reviewed through a meticulous qualification process. Startups can apply online on the company's website till May 5. Selected startups will receive six-month acceleration facilitated by technical and business experts from the industry and Oracle.

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