Bangalore: Great news for Indian entrepreneurs – SAP, the German software giant has recently announced its helping arm towards startups as it plans for an initial three-year 2 million euros (US$2.6 million) as a commitment to the organizations promoting entrepreneurship in Brazil and India.

This effort of SAP is to build a stronger startup ecosystem by providing timely entrepreneurs with the best mentorship and latest technologies. It plans to create great opportunities for entrepreneurs with this fund and also plans to slowly get into other emerging markets, reports zdnet.com.

SAP also looks at this from a broad perspective; it realizes that it is only with these startups and new companies, employment can be generated. The best entrepreneurs will be selected by Endeavor Global, Endeavor Brazil, and India's National Entrepreneurship Network (NEN).

The chosen ones will be rewarded with various benefits that include: employee volunteers, mentors, and technology support from SAP, along with innovation grants from SAP Foundation.

Today's entrepreneurs are the bedrock of tomorrow's economy. We believe in the 'Power of Small,' and the vital role that the private sector plays in helping small businesses and entrepreneurs, The task is now to identify and support small business leaders that have all the ingredients to execute their magic growth formula, accelerate innovation, and create jobs for the common good’” said Bill McDermott, co-CEO of SAP.

"High-potential entrepreneurs are critical for India to create the tens of millions of jobs it needs over the next decade. By investing in developing mentors and the entrepreneurial ecosystem, NEN and SAP will enable more entrepreneurs to grow and create the jobs India needs," said K Srikrishna, executive director of NEN India.

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