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    SAP   DE0007164600

SAP SE

(SAP)
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SAP : iO Foundry Tel Aviv Leads Innovation in Utilities

10/29/2020 | 05:04am EDT

SAP SE (NYSE: SAP) announced early this week its first utilities-focused accelerator program.

The seven early-stage startups to participate in the SAP.iO Foundry Tel Aviv program will focus on innovative solutions that address some of the biggest imperatives and challenges in the utilities industry, such as collaborative customer relationships, enterprise asset management and managing transmission and distribution.

The SAP.iO zero-equity-ask program is designed to accelerate innovation and drive new business models for SAP's utility customers. To be intelligent enterprises that deliver sustainable futures, utility companies need to undertake a digital transformation, which now includes environmental sustainability and energy transition. During the 12-week program, the seven selected startups will work closely with SAP's industry experts to develop new joint offerings that will allow new capabilities and functionalities on top of SAP's current solutions to the utilities industry.

'SAP's utilities customers are looking for intelligent solutions to help them succeed in delivering safe, reliable and sustainable energy products and services,' said Peter Maier, SAP president of industries and customer advisory. 'This cohort of early-stage startups will help us connect our customers with the most cutting-edge solutions from around the world and enable them to rapidly respond to new business requirements.'

This cohort will collaborate with SAP longtime customers E.ON Innovation, part of Germany-based E.ON SE, and Israel Electric Corp. (IEC). The collaboration aims to identify breakthrough technologies, providing E.ON Innovation and IEC opportunities to be beta sites for pilots of the selected startups.

The following startups are participating in SAP.iO Foundry Tel Aviv:

FSIGHT offers state-of-the-art artificial intelligence software solutions that allow the end user to predict, optimize and trade energy.

Future Grid enables the renewable grid of the future to deliver safe and reliable electricity.

Lemonbeat offers a scalable end-to-end Internet of Things-enabling solution, building a seamless experience journey from device to cloud.

NET2GRID delivers a platform for utilities to gain powerful energy insights and run value-added services using machine learning algorithms on smart meter data.

OXYGEN TECHNOLOGIES provides digital value-added services to private and commercial 'prosumers' with an operating system to monitor and control distributed energy devices.

PexaPark provides the operating system for postsubsidy renewable energy sales.

Raycatch's AI-driven digital asset management system automates and optimizes solar photovoltaic plants.

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.

Visit the SAP News Center. Follow SAP on Twitter at @SAPNews.

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 Press Room; press@sap.com

(C) 2020 Electronic News Publishing, source ENP Newswire

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