SAP wants to support starting entrepreneurs with unequal opportunities on the labour market – for example female entrepreneurs – with the initiative SAP.iO No Boundaries. The aim is to increase the chances of start-ups by entrepreneurs with unequal opportunities on the labour market.
2.2 percent of venture capital in 2017 was for start-ups led or founded by women, according to research by PitchBook Data. If there is a ‘mixed’ founding team, then the opportunities for investors are slightly better. According to Atomico Investment Holdings Limited, companies with at least one female founder accounted for 7 percent of all venture capital.
“Women face major barriers in raising capital. We see it as our social duty to support them and other entrepreneurs with unequal employment opportunities,” said Deepak Krishnamurthy, Executive Vice President and Chief Strategy Officer at SAP. “With this initiative, we level the playing field in the startup ecosystem.”
With SAP.iO No Boundaries, the opportunities for startups led by entrepreneurs with unequal opportunities on the labour market should be strengthened. This is where 40 percent of the capital of SAP.iO Fund – a startup support fund – is reserved for. Foundries, the network for promising start-ups of the company, will also focus more on inclusive entrepreneurship. In the next five years, SAP wants to support 200 startups in this way.
Recognition
In October, the company received recognition for its efforts from the United Nations Associations of New York. This institute states that the company promotes gender equality through innovation and technology. That is target number five of the UN Sustainable Development Goals.
The UN therefore praised the company’s social initiatives, such as Business Beyond Bias and Africa Code Week. In addition, SAP has re-certified itself to the worldwide standard Economic Dividends for Gender Equality (EDGE).
This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.