The SAP.iO Foundry Singapore Fall 2020 acceleration programme, of which Railsbank is a central part, has kicked off.
SAP.iO is part of SAP, a market leader in enterprise application software. It’s Foundry Singapore Fall 2020 acceleration programme programme focuses on COVID-19 recovery, fintech and spend management, and is supported by The Singapore Economic Development Board.
Justin Xiao, Railsbank APAC COO, said: “It is great to be part of this acceleration programme and we welcome the opportunity to work with SAP and the other chosen start-ups over the coming months. As a company which puts digital technologies first, we are very much aligned with the values of the programme and the Singapore Economic Development Board.”
Railsbank is amongst six selected start-ups which will help SAP’s customers extend the value of their investments in SAP Concur solutions for travel and expense management.
“By helping these enterprising startups in the SAP.iO program scale, we enable our customers to benefit from the value of some of these unique solutions and emerging technologies when they become available in SAP Concur App Center,” explained Andy Watson, SAP Concur senior vice president and general manager, Asia Pacific Japan and Greater China.
The startups will have access to curated mentorship from SAP executives, exposure to SAP technology and application programming interfaces (APIs) and opportunities to collaborate with SAP customers.
The programme will culminate at the SAP.iO Cohort Demo Day in December 2020.
“COVID-19 is pushing many businesses to go digital in search of growth,” Singapore Economic Development Board Vice President Ang Chin Tah commented. “The Singapore Economic Development Board is glad to support the SAP.iO Foundry Singapore Fall 2020 acceleration program, which will bring startups from all around the world to Singapore to develop products that meet the needs of the new operating environment. Singapore’s established base of industry leaders in finance and digital, as well as connectedness to regional markets, make us a great testing ground for their ideas. It is a wonderful new addition to our thriving ecosystem.”
In line with the SAP.iO No Boundaries initiative, the cohort includes several startups founded, or led by female entrepreneurs. SAP told Railsbank that this is a testament to SAP’s belief that a healthy ecosystem includes entrepreneurs from diverse backgrounds.
Some of the other programme startups are:
LuggAgent creates a standardized international luggage delivery and tracking platform by widely applying radio frequency identification (RFID) while working with logistics services providers in varying countries;
Staple offers cognitive technology that can read, interpret and extract data from business documents faster, more affordably and more precisely than humans, at scale and in any language;
Timeshifter is the world’s first platform for circadian (body rhythm) shifting and helps businesses empower their traveling employees to create their own jet lag plans.
SAP.iO was established to grow a generation of revolutionary software businesses in the SAP ecosystem. Throughout the SAP.iO Fund and Foundries, visionary startups are supported to leverage SAP’s data, APIs and technologies to build products, find customers, and change industries.