Oracle Innovate sees 5-10 new companies created by 2010

Launch of Oracle Innovate program in Romania – Q&A session
Bucharest, July 9, 2008

“24-36 months from now if we have a handful of companies that would be created, I think that would be success. But we are not saying it has to be 10, 20 or 30, we have to keep that level of flexibility. Clearly, we have to see results in 24 to 36 months” – Sergio GIACOLETTO, Executive Vice President, Oracle EMEA

“For Romania, if in 2 years we will have 5 to 10 new IT-related companies created because of the Innovate program, that would be a success. We are talking about medium to small sized companies. But nothing prevents a big company to create a spin-off in a specific area for a specific product and go for it. We expect our partners also to take this opportunity and if they want to create a new business unit in the form of a small owned company, it is possible. We do not put any limit.” – Alfonso DI IANNI, Senior Vice President, Oracle Eastern Europe & CIS