Ahmedabad, November 30, 2023: Prominent venture capital firm GVFL Limited (GVFL) has joined forces with Brinc, a global venture accelerator specializing in innovative technologies, to launch the A4X accelerator program. GVFL will invest between INR 1.5 crore to 2 crore in each startup. In addition to this, the technology program partner, Microsoft for startups, will provide a range of credits and services to eligible participating teams valued at up to US$350,000. The program will accept up to 45 startups over a three-year period. This collaborative initiative is designed to provide comprehensive support to startups operating within four strategic themes, leveraging the growth potential not only in Gujarat but throughout India.
The accelerator program, known as Brinc x GVFL A4X, has called for applications from startups operating in diverse sectors such as D2C businesses, Consumer SaaS, Enterprise SaaS, Industrial IoT, Blockchain, AI, Alternate Protein, Climate Tech & Sustainability, and Electric Mobility.
Speaking on these developments, Kamal Bansal, MD of GVFL said “The accelerator program, set against the backdrop of a rapidly evolving technological and environmental landscape, is poised to be a catalyst for startups venturing into these diverse domains.”
Karan Keswani, Managing Director, Brinc India said, “Both GVFL and Brinc share a vision of fostering innovation across multiple sectors, recognizing the interconnectedness of today's challenges and opportunities. Our combined expertise and resources promise to offer startups a unique platform to scale and make a significant impact.”
Four strategic themes that can be found in the program:
- Consumer: The program aims to support startups, including D2C businesses and consumer SaaS applications, that cater to the consumption boom and increased demand for convenience, personalized products, and tailored experiences.
- Industry & Enterprise: Focused on startups in Enterprise SaaS, Industrial IoT, and related sectors, this theme seeks to drive operational efficiencies and increased productivity within industrial and enterprise solutions.
- Emerging Tech: Acknowledging the ongoing technological revolution, the program is keen on supporting startups and emerging technologies like Blockchain applications and AI applications, shaping the next wave of technological innovation.
- Sustainability: In alignment with global sustainability goals, the program targets startups involved in Alternate Protein, Climate Tech, Electric Mobility, and other sectors contributing to a rapidly expanding "green" market. This initiative reflects the growing global attention to climate change and environmental concerns, presenting an opportunity to invest in solutions promoting planet efficiencies.
Program Structure and Benefits:
Drawing inspiration from GVFL's legacy of building successful businesses and Brinc's expertise in nurturing entrepreneurial talent, the program offers a robust launchpad for disruptive startups looking to revolutionize their respective industries. The 3-month intensive acceleration phase provides startups access to invaluable resources, mentorship from industry stalwarts, and an initial investment ranging from ₹1.5 crore to ₹2 crores. Expert mentorship, investor connects, industry networking opportunities, and a supportive community of founders for collaboration and peer-to-peer learning are integral components of the program.
Empowering Startups:
Participating startups will benefit from a holistic approach, encompassing mentorship, access to a global network, and tailored strategies for each sector. This collaboration between GVFL and Brinc is poised to propel promising startups to the forefront of their respective industries, fostering innovation and sustainability. The accelerator program aims to empower startups with the tools and insights needed to navigate their sectors effectively, ensuring they harness best practices and avoid common pitfalls. Additionally, it facilitates networking opportunities with industry leaders and potential collaborators.
Application Process:
Startups interested in being part of the Brinc x GVFL A4X Accelerator program can submit their applications, with the opportunity to receive not only financial support but also access to a global network and mentorship essential for their growth journey. The program underscores GVFL and Brinc's commitment to fostering entrepreneurship, technological innovation, and sustainable solutions.
