Last night at the kickoff event, SAP.iO Foundry, Powered by Techstars Accelerator in Berlin officially announced the second and most diverse cohort of the SAP.iO Foundry program in Berlin, powered by the Techstars accelerator. BeeInstant, an Enterprise Ireland backed company, represents Ireland among other nine high potential startups from all over the world, including companies from Germany, South Korea, Ukraine, South Africa, Russia, and India.
BeeInstant, a Dublin-headquartered company, has developed an automated anomaly detection platform for large enterprises who run their business globally in the fields of E-commerce, online betting, music/video streaming, or IoT. BeeInstant leverages artificial intelligence to produce reliable insights from nearly 90% unused data, and foresee potential technical issues quickly. The solution is designed from day one to ingest, and analyse both IT operational data and business data.
As part of the programme, BeeInstant receives financial investment and intense support from Techstars and SAP.iO for the next 12 weeks. Customers of BeeInstant are spread across Europe and Southeast Asia. Prior to SAP.iO Foundry, Powered by Techstars Accelerator, the company had Enterprise Ireland as its early investor and was endorsed by both government and private organisations including Google, KPMG, Bank of Ireland, Dublin Business Innovation Centre, and LEO Dublin City.
“Winning a place at Techstars Accelerator is like a moon shot for any startup founders at their early stage. SAP is the world’s leading company for enterprise software with 380,000 customers globally. Our team is thrilled to participate in Techstars SAP.iO. With the intense support from Techstars top-notch mentors, and accessing the SAP network, we are confident in the rapid growth of BeeInstant in the fourth quarter of 2018,” said Trung Nguyen, CEO of BeeInstant.
Techstars is the worldwide network that helps entrepreneurs succeed, and strong partners and mentors help make this happen. SAP.iO Foundry programs provide mentorship, access to SAP APIs, SAP technologies, and opportunities for exposure to SAP customers.
“With SAP.iO we are building an open, intelligent ecosystem around SAP products and platforms that complement our portfolio of breakthrough technology solutions. The SAP.iO Foundry in Berlin will accelerate founders building machine learning–based applications as well as drive inclusive and diverse entrepreneurship in the German startup ecosystem.”, said Deepak Krishnamurthy, executive vice president, and chief strategy officer, SAP.