Oracle's Start-up Cloud Accelerator program in Israel

Oracle's Start-up Cloud Accelerator program in Israel

Posted by P. Charitha on January 17th 2017

Oracle announced the opening of its Start-up Cloud Accelerator program in Israel for start-ups developing cloud technologies or whose technologies are based in the cloud, Reuters said. “Oracle today marks the 20th anniversary of its Israeli subsidiary. Over the past two decades, the company has acted as a source of innovation in Israel,” said Uzi Navon, the company’s Israel’s country leader.
A pilot program was first launched in India in April 2016 and more centres will be announced soon. Oracle said this was a multi-million dollar program but did not disclose how much it would invest in each centre.
Oracle's start-up cloud accelerator program builds on its excellence centre for Israeli start-ups, which was established in 2003 by Oracle Israel in cooperation with the government to support the growth of early stage start-ups. Thirty six companies were approved to take part in the excellence centre, totalling more than $150 million in estimated exits.
The new centre in Tel Aviv will be run by members of the Oracle research and development team. The program provides six months of mentoring from technical and business experts, advanced technology, access to Oracle's customers, and partners and investors. Oracle provides top mentoring, co-working space, access to Oracle’s 400,000+ customers as well as partners and investors, and free Oracle Cloud credits. It also offers an ever-expanding global network of start-up peers. Senior Vice President of Product Development Reggie Bradford, a serial entrepreneur himself, will lead the program.
For start-ups who apply for selection, the process includes pitch and interview sessions with Oracle and industry executives. Five start-ups will be selected per group; two groups a year. Selected start-ups will participate in a six month program. 


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