Software maker Oracle said Friday that it has created its first U.S. accelerator program at Austin-based startup hub Capital Factory.
The six-month program will be run twice a year at Capital Factory’s offices in downtown Austin and include five to six startups focused on cloud computing, Oracle executives said.
Companies will be offered training opportunities at Oracle, access to co-working space and to Oracle’s vast chain of partners, investors, customers and other startups. The program will also give the selected startups a chance to pitch their ideas to potential partners and investors.
Oracle representatives declined to say how big the dedicated space at Capital Factory would be or how long the accelerator program might be operated there, but they said the company chose the location because of its vibrant startup culture. Dozens of startups work out of Capital Factory, a colorful space filled with shared working rooms, collaboration areas and pop culture-inspired decorations.
J.D. Weinstein, the head of Oracle’s Austin accelerator, said the company picked Capital Factory because “we want to be present where all of the startup activity is taking place.”
Startups will begin the program in early September. Oracle is accepting applications until Aug. 7. The company is looking for firms that are focused on larger markets and have a customer base, and it requires startup founding members to have been together for at least six months.
Oracle said the goal behind the accelerator initiative is to create cutting-edge technology around its products worldwide. While it does not take equity in the startups it picks, Weinstein said Oracle’s brand will benefit since the company has not typically been linked with the tech startup scene.
“The cloud has enabled Oracle to become a part of this initiative,” Weinstein said. “We have lots of corporate partners that want to utilize the startup ecosystem.”
Oracle did not say how many applications it has received for its Austin accelerator, but more than 4,000 startups applied for 40 slots throughout its eight other accelerator programs last year. All of those accelerator programs are in other countries, with sites in Paris, Sao Paulo, Singapore and Tel Aviv, among others. Startups that are accepted have to move to wherever the programs are hosted during the sixth-month period.
“We’ve selectively chosen these partner cities,” Weinstein said. “In Austin, of course, we have a large pool of great universities, and Austin has a thriving cloud infrastructure industry.”
Oracle, the world’s second-largest software maker, recently moved its Austin operations into a sleek 560,000-square-foot campus at South Lakeshore Boulevard and Lady Bird Lane. The campus houses about 3,000 employees.