Bangalore, Jan 24 (IBNS) SAP AG (NYSE: SAP), a leader in enterprise application software, on Thursday announced a three-year commitment to National Entrepreneurship Network (NEN), India's largest entrepreneurial organization with a comprehensive focus on high-impact entrepreneurs, to create a strong mentoring ecosystem in order to accelerate job creation and responsible, sustainable business growth for entrepreneurs in India.
"Today's entrepreneurs are the bedrock of tomorrow's economy," said Bill McDermott, co-CEO, SAP.
"We believe in the 'Power of Small,' and that the private sector plays a vital role in helping small businesses and entrepreneurs drive innovation, job creation and wealth. We recognize that helping entrepreneurs and small businesses achieve their full potential is not something that can be achieved in a 90-day cycle.
"With this initiative, SAP is making a clear commitment to invest in their long-term future by providing talent, technology and capital."
SAP and NEN will together build mentoring capacity in India over the next three years by identifying, educating and supporting high-quality mentors.
This program, a part of SAP's new Emerging Entrepreneur initiative, will provide high leverage for SAP and industry mentors tohelp entrepreneurs grow their businesses.
SAP and NEN will select entrepreneurs and their companies that have a proven business model, a focus on innovation and societal impact, and a propensity to scale with technology.
These selected entrepreneurs will receive access to high-potential employee volunteers and mentors as well as innovation grants and technology support from SAP.
Ultimately, SAP and NEN will facilitate the growth and development of innovative companies that will help transform their communities through job creation leading to economic acceleration.
"High-potential entrepreneurs are critical for India to create the tens of millions of jobs it needs over the next decade," said K. Srikrishna, Executive Director, National Entrepreneurship Network (NEN) India.
"By investing in developing mentors and the entrepreneurial ecosystem, NEN and SAP will enable more entrepreneurs to grow and create the jobs India needs."