Oracle’s Non Equity Based Cloud Startup Accelerator Announces First Class
Oracle has broken from the corporate accelerator mold with their, “Oracle Startup Cloud Accelerator”, in Paris France. The software giant has decided to forego taking equity in the startups it puts through it’s cohort based program. Instead Oracle will provide the six participating startups with mentorship, access to Oracle products and introductions to some of their key corporate partners.
“We’re trying to develop sustained relationships with startups to give them something that is in line with the specific point in their history,Dominique van Deth, Oracle Startup Cloud Accelerator program director for France. told Forbes.com.
This isn’t the first “cloud” accelerator for Oracle. They are also running a program in Bangalore that caters to early stage and pre-revenue startups. The Paris program specifically called for startups already generating $100,000 in monthly revenue.
Forbes reported that the six startups in the first Paris accelerator are:
- 1Check, which digitizes processes for hotels, campsites, resorts, nursing homes, apartment buildings, and school campuses.
- OuiTeam, which helps companies improve workforce efficiency by optimizing internal staff transfers from one site to another.
- Shippeo, whose mobile application helps shippers and freight forwarders monitor their supply chains in real time.
- Tilkee, whose lead-conversion application, used in email campaigns, helps marketers close deals by analyzing prospects’ reading behaviors to score their interest and prioritize follow-ups.
- Weblib, whose in-store Wi-Fi and tablet software help retailers and restaurants boost revenue, improve traffic, and build customer loyalty.
These six were chosen from a pool of hundreds of applications all vetted by a committee of seven. The vetting process had the startups first take video interviews. When the field was cut down to 15 startups, they went in person to pitch Oracle executives and others from outside of Oracle until the final six were chosen.
“Participants are given access to a coworking space, mentoring, a tailored curriculum, peer-to-peer interaction with Oracle employees worldwide, free Oracle Cloud services, and go-to-market education from Oracle and industry executives. They’re also provided opportunities to engage with some of Oracle’s 400,000-plus global customers, giving them a path to grow their business.” Forbes reported.