SAP.iO Foundry Singapore Launches FinTech and COVID-19 Recovery Acceleration Program

SINGAPORE SAP SE (NYSE: SAP) today kicked off the SAP.iO Foundry Singapore Fall 2020 acceleration program focused on COVID-19 recovery, FinTech and spend management. The selected business-to-business startups 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,” said Andy Watson, SAP Concur senior vice president and general manager, Asia Pacific Japan and Greater China.

The selected 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 program 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 said. “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, a testament to SAP’s belief that a healthy ecosystem includes entrepreneurs from diverse backgrounds.

The following startups are part of the SAP.iO Foundry Singapore Fall 2020 program:

  • CardUp offers a credit card enablement platform, enabling the payment or collection of big expenses using credit cards, where cards are not accepted today.
  • 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.
  • MatchMove makes it easy for users to move digital cash securely, allowing easy spending, sending and lending.
  • Railsbank’s open banking platform and APIs empower financial innovators to create financial services products and experiences for their customers.
  • 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.

To learn more about SAP.iO and how SAP is helping innovators inside and outside of SAP build products, find customers and change industries, visit SAP.iO.

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Media Contacts:
Anke Otto-Jungkind, +1 (650) 796-6478, anke.otto-jungkind@sap.com, PT
Lesa Beber, +1 (650) 390-1629, lesa.beber@sap.com, PT
SAP News Center press room; press@sap.com

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