Verusen launched its pioneering cloud platform at the “Salute to Digital Innovation and Intelligence in the Supply Chain” event. Verusen is a SAP.iO company that provides artificial intelligence to harmonize and provide visibility into materials inventory data from ERP and other systems
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, 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 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.
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)
As a female entrepreneur, I’m always on the lookout for companies that are helping women break through the proverbial glass ceiling. And, there is no shortage of public announcements, blog posts and tweets by many players in the startup scene proclaiming their commitment to bringing more female founders into the ecosystem. It’s been proven time and again that it makes business sense to invest in companies with female founders and leadership. But, in Silicon Valley, startups with female CEOs still win only about 3% of investment dollars….