SAP recognizes the crucial need for improvement in an industry where, in 2017, only 2.2 percent of venture capital went to women-only founded startups, according to data from PitchBook Data Inc. In that year, it also found that less than 13 percent of venture capital went to U.S. startups having at least one female founder.
Innovation has always been about generating good ideas by challenging the status quo with new viewpoints. That is why diversity is fundamental to the sustained success of any innovation ecosystem. Promoting diversity in entrepreneurship and technological innovation can deliver greater economic and societal value.
As society experiments with new technologies such as artificial intelligence (AI), we must be careful to ensure that our own individual biases do not taint the data we use to train AI algorithms. Training data must accurately represent human viewpoints from the global population, so that AI can augment humans ethically, safely, and fairly.
SAP has unveiled SAP.iO No Boundaries, an initiative to fund and incubate startups led by women and minorities. The goal is to help at least 200 startups around the world within the next five years.
WALLDORF — SAP SE (NYSE: SAP) today announced SAP.iO No Boundaries, an initiative to offer venture capital and incubation to underrepresented entrepreneurs.
As the first company in the business software industry to do so, SAP pledges to commit up to 40 percent of the investable capital in the SAP.iO Fund and scale the SAP.iO Foundries program with focus on inclusive entrepreneurship. The goal is to help at least 200 startups around the world within the next five years.
On Sunday, January 20, software giant SAP became the latest company–and, it says, the only business software company–to target a share of its venture investments directly to women and underrepresented minorities.
Its fund, called SAP.iO, was launched in 2017 and invests in business-to-business startups that are a fit with SAP’s own technology platforms. With $35 million to invest, it’s already put about $4 million to work in 15 companies, 60 percent of which are in the U.S. Now, under an initiative called SAP.iO No Boundaries, the fund will invest 40 percent of its money in women and underrepresented minorities, says SAP chief strategy officer Deepak Krishnamurthy. He says the company will start ramping up its Asia-Pacific focus within the next year.
German multinational software firm SAP SE has announced the launch of the SAP.iO No Boundaries initiative, which seeks to invest in entrepreneurs from underrepresented groups.
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SAP will commit to using up to 40 percent of the capital of its SAP.iO-Fund to promote start-ups founded by women or minority individuals. “SAP is committed to improving the competitive environment for founders and minority founders in the start-up ecosystem,” said SAP Chief Strategy Officer Deepak Krishnamurthy. “And we do not do that to calm a bad conscience, but because often, women have the better ideas and make better returns in our fund.” (Original in German)
Replay of a live #AMA on SAP.iO Foundry Berlin’s upcoming program and the general state of the tech ecosystem in Berlin with European Head of the SAP.iO Foundries, Alexa Gorman, and two of our alumni: Anna Ritz (CEO – Weview) and Sarah Al-Hussaini (COO – ultimate.ai). Continue Reading
SAP Chief Strategy Officer Deepak Krishnamurthy said at the Web Summit in Lisbon, Portugal, “Imagine if we can work together and make inclusion a fact.” Additionally, Alexa Gorman, who is SVP, Head of SAP.iO Foundries Europe announced the creation of a dedicated accelerator program for women and diverse-led enterprises in Berlin, Germany.
Culture Shifting: A Weekend of Technology, Innovation & Social Impact is an invitation only event that takes place annually in Silicon Valley (CA), and Silicon Alley (NYC). It unites 300+ leaders that attend with each other and companies that care about growth and innovation through diversity and inclusion. Their goal is to celebrate accomplished individuals, highlight them and enable deals and collaborations among our guests.
The Latino population is large and growing and their contributions to the US economy are remarkable. Over 350,000 businesses are owned by Latinos, creating nearly 3 million American jobs, and driving a GDP of more than $2 trillion — larger than the GDPs of Canada or Italy.
San Francisco & Palo Alto, CA – Silicon Valley’s notorious and much-derided “brotopia” culture eroded as 300+ C-Suite execs, financiers, tech and health entrepreneurs gathered for a weekend of collaborating, deal-making, and celebrating actions that make the upper reaches of America’s boardrooms and tech companies corner offices more diverse. Known as the “Davos of Diversity,” Culture Shifting Weekend assembles a carefully curated group of Black and Latinx leaders who share a goal of diversity, inclusion, and innovation.
Last week I had the honor of emceeing the “Femigrants of Silicon Valley” event organized by Femigrants Foundation — a network of entrepreneurs and professionals that is committed to empowering and inspiring immigrant women in the US to build their own business and progress in their career by connecting them to the right resources and network they need to succeed…
Immigrants face many challenges and fears. They need to adapt quickly to a new culture, learn a new language, deal with homesickness and go above and beyond in interviews to overcome lack of local work experience. Don’t get me wrong; new beginnings are exciting too. I believe in challenging yourself and getting out of your comfort zone if you want to grow. Moving to a new country that promises more opportunities is one of the best ways to do so…
