India Accelerator and Council for International Economic Understanding (CIEU) announce Bharatx, an accelerator for the growth of seed-stage startups

India Accelerator and Council for International Economic Understanding (CIEU) announce Bharatx, an accelerator for the growth of seed-stage startups

Views: 500 12

Gurugram, November 2022: India Accelerator India’s only Global Accelerator Network affiliated and mentorship-driven accelerator in partnership with Council for International Economic Understanding (CIEU) an independent research-oriented think tank launches BharatX– an accelerator to expedite the development and growth of seed-stage startup ventures. The core values of BharatX stem from the mission of AtmaNirbhar Bharat, Make in India, and Stand up India initiatives.

Indian startups from tier 2 and 3 cities are growing at a pace with the potential to take economic growth on a higher trajectory. In addition, it also generates employment at a large scale, sustaining the wave of technology in the ecosystem. The Swadeshi Startups ecosystem in India has been developing with the growth of emerging technologies, young talent, and infrastructure to support them. BharatX works as a growth enabler to support that ecosystem.

“With India becoming the third largest startup ecosystem in the world, Bharat-specific startups from Tier 2 and Tier 3 cities require different interventions and ecosystems to help build solutions for the next 800Mn+ people. Bharatx will bridge that gap and enable the next stage of expansion of the startup ecosystem through specialized programs.” Munish Bhatia, CEO, Bharatx

BharatX in its first edition of the accelerator program announces to invest of Rs. 1 to 5 Cr. for each startup and will also facilitate access to leading corporations along with a dialogue with policymakers. With its partners having an established legacy of excellence and a proven track record of supporting countless founders, investors, and aspirants, BharatX will be working as a growth catalyst to take India’s entrepreneurial landscape to the next level by providing them with a platform for global expansion.

“After being awarded the Best Accelerator in India by National Startup India Awards 2021, we reflected on what more we could do to make Bharat excel better. Almost 30% of our current portfolio startups hail from Tier 2 and 3 cities. Though there are schemes, provisions, and access to a robust digital infrastructure, a majority of startups struggle with visibility and the intelligence to channel the right resources that take them to the global stage. We aim to use our winning formula to encourage growth across industries and become truly independent by leaving no Swadeshi behind”, said – Ashish Bhatia, Founder & CEO, of India Accelerator and Governing Board Member, Bharatx.

The number of startups in India rose from 471 in 2016 to 72,993 by June 2022, which is fueling the Indian tech wave. To build a Swadeshi Startup Ecosystem in India, BharatX announces to inject $15Mn over the period of 18 months to build and scale nationwide.

“The need to look at Indian startups emerging from non-metro cities is dire. As part of BharatX accelerator program, we look forward to bringing the startups in the spotlight that are actually building global platforms and products for the world,” Munish added.

“Congratulations Bharatx on the launch. The aim to accelerate startups &, rejuvenate growth in rural India and smaller towns can truly make a huge economic impact. There is a great potential in rural and smaller towns which is the “Real Bharat” to give tough competition to the world, in terms of cost, latent talent &, manpower”, said- Ashwani Mahajan, National co-convenor, Swadeshi Jagran Manch and Governing board member, Bharatx.

In addition, BharatX aims to launch two cohorts with 20 selected seed to early-stage startups for the program. Through the Bharatx ecosystem, startups will be able to access $10 million in funding and secure partnerships with over 50 corporations to help scale their businesses.

Leave a Reply