SAP plans investments in start-up companies in India
Enterprise resource planning solution provider SAP on Wednesday said it plans to invest around $4-5 million in start-up companies in India through its investment arm, SAP Ventures.
By PTI |
MUMBAI: Enterprise resource planning solution provider SAP on Wednesday said it plans to invest around $4-5 million in start-up companies in India through its investment arm, SAP Ventures.
"We are looking at a dozen investment opportunities in India. We hope to close three such deals in the next 2-3 months," SAP's President and CEO Bill McDermott told reporters here.
The investment would be in the range of USD 4-5 million and could go up to $8-10 million, he said, adding that "we will invest in innovative and early-stage companies, especially enterprise IT companies."
SAP Ventures has invested in 38 companies globally. India has become a self-support hub for SAP, because a lot of innovations are happening in India, he said. "In India, we are getting customers from across industries and its various segments," McDermott said.
Asia-Pacific and Japan are the fastest growing markets for SAP followed by Latin America, he said.
McDermott gave a guidance of 24-25 per cent growth in revenue for this fiscal. SAP expected a double-digit growth in the US despite the current economic slowdown there.
"Our business has a good scope in the US. SAP has a higher priority than other IT investments for CEOs. If they want to grow globally, they will have to invest in SAP," McDermott said.
Globally, there is a shortage of 60,000 SAP consultants, of which one-third is in India. "There is a shortage of SAP consultants in Tier-3 and Tier-2 cities of India," he said.
"We are looking at a dozen investment opportunities in India. We hope to close three such deals in the next 2-3 months," SAP's President and CEO Bill McDermott told reporters here.
The investment would be in the range of USD 4-5 million and could go up to $8-10 million, he said, adding that "we will invest in innovative and early-stage companies, especially enterprise IT companies."
SAP Ventures has invested in 38 companies globally. India has become a self-support hub for SAP, because a lot of innovations are happening in India, he said. "In India, we are getting customers from across industries and its various segments," McDermott said.
Asia-Pacific and Japan are the fastest growing markets for SAP followed by Latin America, he said.
McDermott gave a guidance of 24-25 per cent growth in revenue for this fiscal. SAP expected a double-digit growth in the US despite the current economic slowdown there.
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"Our business has a good scope in the US. SAP has a higher priority than other IT investments for CEOs. If they want to grow globally, they will have to invest in SAP," McDermott said.
Globally, there is a shortage of 60,000 SAP consultants, of which one-third is in India. "There is a shortage of SAP consultants in Tier-3 and Tier-2 cities of India," he said.
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