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2013-01-25

SAP announces 2M Euro commitment for emerging entrepreneurs

Germany-based software giant SAP on Thursday announced an initial three-year, 2 million Euro commitment to India's National Entrepreneurship Network (NEN) with a comprehensive focus on high-impact entrepreneurs.

Germany-based software giant SAP on Thursday announced an initial three-year, 2 million Euro commitment to India's National Entrepreneurship Network (NEN) with a comprehensive focus on high-impact entrepreneurs.

Endeavor Brazil and Endeavor Global are other two organizations which are part of the commitment from SAP to help entrepreneurs and businesses, of over 15 emerging economies of the world, to grow.

SAP and its partners will help accelerate job creation and responsible and sustainable business growth for emerging entrepreneurs, who will be selected via the Endeavor and NEN networks. With an initial focus on Brazil and India, SAP and its partners plan to expand into additional emerging markets, the company said in a release.

SAP and NEN plans to train 30 mentors across India who will support 300 emerging entrepreneurs in the country. Further select 100 SAP experts who, through skilled-based volunteering assignments, will help emerging entrepreneurs with their specific technology requirements. Also, the program will select up to five emerging entrepreneurs who will receive a technology assessment, technology solutions and an innovation growth grant from SAP, the release stated.

"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 businesses leaders that have all the ingredients to execute their magic growth formula, accelerate innovation, and create jobs for the common good. With this initiative, SAP is making a clear commitment to invest in their long-term future by providing talent, technology and capital," said Bill McDermott, Co-CEO, SAP.

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