Bangalore: SAP India, a subsidiary of SAP AG (NYSE: SAP), today announce new initiatives aimed at unlocking the potential for entrepreneurs and small and midsize businesses to drive economic growth, innovation and job creation, which in turn is key to SAP’s long-term success. SAP has joined with Ashoka Changemakers to launch a competition focused on “The Power of Small: Entrepreneurs Strengthening Local Economies” aimed at helping emerging entrepreneurs and small businesses grow and thrive in underserved communities.

Being one of the largest market of small and medium sized enterprises (SME) , the segment contribute to over 40% of industrial output, forming a strong backbone of economy. Since they are deeply connected to local resources and needs, small businesses and emerging entrepreneurs have an unmatched ability to leverage the core competencies of their region, while respecting societal needs and operating in a responsible and sustainable manner. Despite the capability of emerging entrepreneurs and small businesses to drive and create sustainable and inclusive economies, they often lack the infrastructure required to utilize their potential to the fullest. SAP’s “Power of Small” competition aspires to meet such critical needs and address the challenges in order to provide them with the necessary infrastructure so that the emerging entrepreneurs can make a greater impact on the society.

The  online competition has been open to participation since June 20, 2012. Through this competition, the company seeks innovative strategies from organizations and partnerships around the world and in India to help small businesses grow and thrive in underserved communities. Proposed solutions of entries must focus on providing entrepreneurs in emerging or established markets with the infrastructure they need to reach their full potential and create a larger and sustainable impact on society.

“SAP believes in the power of small business and entrepreneurs to drive the innovation and job creation that the world needs, we are committed to supporting small businesses and entrepreneurs to help the world run better and improve people’s lives.” said Eric Duffaut, president, Ecosystem & Channels, SAP AG.

Participants can submit entries until September 5, 2012, which will be evaluated based on the key criteria of innovation, social impact and sustainability. Four winners will each receive US$10,000, as a technology donation, promotion and networking opportunities with SAP executives and customers at the SAPPHIRE® NOW conference. Winners will be announced during the event, being held November 13-15 in Madrid, Spain.