|April 28, 2000|
Oracle Fast-Tracks South Asia E-Business Start-Ups
|Oracle Corp., today announced a S$55 million (approx. US$32.3 million) Oracle e-Business program to jump-start elite Internet start-up companies and accelerate e-business momentum in South Asia. Available immediately, this program grants qualified start-ups with select e-Business software, technical support and education. By leveraging Oracle's leading e-Business platform and Java development environment, start-up participants can expedite their time to market and position themselves to compete successfully at Internet speed.|
A recent study by Asia Insight, a Singapore-based research company, reveals that about 74 percent of Asia's Top 20 dot-coms and 64 percent of the region's potential IPOs (Initial Public Offerings) run on
Oracle's Internet-enabled solutions. The research is based on 'Asia's Hottest Tech-Stocks', compiled by Asiaweek, the region's leading business magazine.
"Today's initiative demonstrates our continued efforts to accelerate the pace of dot-com development in South Asia," said Mr. Loke Soon Choo, Regional Managing Director, Oracle Corporation, South Asia Region. "By building their e-Business on Oracle's Internet platform technology, these aspiring dot-coms can be assured that their e-Business systems will be able to keep pace with the rapid growth of their businesses and continue to deliver quick response time needed for optimum customer service," added Mr. Loke.
Companies qualified for the program can unleash benefits of up to S$275,000 (US$161,764) worth of software, technical support and training during its first year under the program by paying just S$1,698 (US$998) for development use. In doing so, Oracle passes on significant savings in technology investment to a qualified start-up during its infancy. In addition, participants in this program are expected to benefit from Oracle's worldwide marketing and branding as well as market access afforded by the world's largest provider of software for e-Business.
"Oracle's initiative fits in well with our overall strategy. The e-Business program will allow companies to defray their cost of setting up a development environment, and yet assist Oracle in further proliferating their technology. Sounds like a win-win proposal to me. I wish Oracle and all participating organizations every success in this endeavor," said Dr. Finian Tan, Deputy Chairman, National Science and Technology Board, Singapore.
Partnering For Success
Eight incubation centers in Singapore - AngeLabs Pte Ltd, Plan-B Technologies Pte Ltd, Fresh Chilli Pte Ltd, Asiatech Ventures Pte Ltd, Hitachi Data Systems Pte Ltd, X-Media Communications Pte Ltd, Singapore Science Parks Pte Ltd and iLobe Pte Ltd - plan to work with Oracle to jointly deliver this program. It is anticipated that startups, pre-qualified by these incubation centers, will enjoy benefits including:
- Technology skill transfer
- Early technology adoption program (where applicable)
- Oracle's global market presence and infrastructure
- Business mentoring
- Infrastructure services such as network facilities and office space
"Today, we look forward to working with these eight leading incubation centers to provide a comprehensive package of e-Business infrastructure and business mentoring services to the dot-com community. With their combined expertise in incubating more than 100 start-ups in the region, we anticipate that our relationship will provide start-ups with a higher chance of success. Oracle is committed to working closely with the dot-com community to fuel tomorrow's Internet success stories," said Mr. Loke.