SAP SE wants to help more startups get off the ground with the launch of a new $35 million fund for entrepreneurs that can help to expand its own ecosystem of software and solutions.

SAP said the SAP.iO Fund is just one aspect of what it calls its new “open innovation model.” The software giant is also offering startups access to its application programming interfaces, platform technologies and mentorship through a new incubator program called the SAP.iO Foundry. The program and fund are open to any startup with innovative ideas to build out SAP’s ecosystem, SAP officials said, but they added that they are particularly interested in those that use “frontier technologies” such as blockchain and machine learning.

The SAP.iO Foundry program kicks off with locations in San Francisco and Berlin. SAP said it will operate the San Francisco location by itself, while the Berlin SAP.iO Foundry will be operated in partnership with the well-known startup accelerator Techstars Central LLC. These new locations will complement existing SAP.iO incubation partnerships in New York City and Tel Aviv, the company said.

The idea with the SAP.iO Foundry program is to help incubate new startups that build software applications using SAP’s APIs and other resources, the company said. One example of such a startup is the big data analytics company Parable Sciences Inc., also known as Paradata, which offers a machine learning platform that offers better visibility and insights into business supply chains.

SAP said that Paradata’s solution complements the offerings of SAP Ariba, which is a cloud-based networking provider that offers solutions for direct material sourcing and supply chain visibility. SAP said it’s providing Paradata with mentorship, customer introductions, access to platform integrations and APIs as well as funding, in order to help the company build out its analytics software.

“Our open innovation model continues to deliver value to our customers,” Deepak Krishnamurthy, chief strategy officer at SAP, said in a statement. “In addition to empowering our employee innovators, SAP.iO will use its fund and foundries to invest in entrepreneurs that develop industry-changing software.”

The creation of the new fund and incubator programs should help to bolster previous innovation initiatives at SAP, which include its SAP Labs Network of 19 labs in 16 countries, and the SAP Innovation Center Network, which operates 10 centers across the world and fosters new ideas in startup-like environments.

Image: SAP