Mumbai, Dec 17, 2024: Kotak Mahindra Bank Ltd has launched the Kotak BizLabs accelerator programme, a new initiative under its CSR efforts, aimed at empowering early-revenue stage startups. This programme is designed to help startups overcome growth challenges and scale their businesses effectively. In collaboration with top incubators like IIMA Ventures, NSRCEL, and T-Hub, Kotak BizLabs will provide tailored acceleration initiatives, including mentorship, market access, and advisory support.
The Indian startup ecosystem, while vibrant, faces significant challenges such as market expansion, customer acquisition, operational scaling, and strategic partnerships. While many incubator programmes focus on early-stage for startups (ideation and conception), there are very few programmes which focus on early growth startups that face challenges navigating competition, refining product market-fit, securing funding for expansion and scaling operations.
Kotak BizLabs addresses these issues by offering high-touch support, thematic workshops, ecosystem exposure, competitions, mentoring, partnerships, business development, guaranteed seed funding, and demo days.
Kotak BizLabs aims to empower early revenue stage startups across diverse sectors such as agritech, climatech, fintech, edtech, healthcare, and sustainability, with a strong emphasis on social impact products and services. The programme is set to extend critical support through its comprehensive community engagement. This initiative will offer invaluable networking opportunities, access to a virtual knowledge centre, and a series of hybrid workshops across Maharashtra, Karnataka, Telangana, Andhra Pradesh, Kerala, Gujarat, Madhya Pradesh, Rajasthan, and Tamil Nadu to about 1,000 startups. Additionally, about 50 high-potential startups will receive intensive acceleration support; including grants of up to ₹15 lakh each for 30 selected startups.
Himanshu Nivsarkar, Senior Executive Vice President, and Head – CSR & ESG, Kotak Mahindra Bank Ltd, said, “The journey from an early-stage startup to a thriving business is challenging. At Kotak, we recognize that beyond funding, startups need specialized support, mentorship, and strategic partnerships to accelerate their growth. The Kotak BizLabs accelerator programme is a testament to Kotak Mahindra Bank’s commitment to nurturing the spirit of self-employed segment in India. This initiative aligns with Kotak’s vision to fuel the dreams of the aspirational Indian, drive innovation, and create a robust ecosystem for self-employed segment. In collaboration with top incubators, Kotak BizLabs aims to reach 1000 startups and will provide the necessary resources to support the next wave of industry leaders, contributing to India’s innovation, job creation, and economic prosperity.”
“At NSRCEL, we believe that the key to fostering innovation and driving sustainable growth lies in nurturing high-potential startups with the right mix of resources, guidance, and partnerships. We are excited to collaborate with Kotak BizLabs accelerator programme in supporting the next generation of visionary entrepreneurs. The synergy between our incubation expertise and Kotak’s commitment to empowering startups will create an environment where ideas can flourish, businesses can scale, and leaders of tomorrow can emerge", said Anand Sri Ganesh, CEO- NSRCEL.
Chintan Bakshi, Partner – Incubation, IIMA Ventures, said, “At IIMA Ventures, we are witnessing significant entrepreneurial energy and talent emerging from India’s growing startup hubs like tier 2 and 3 centre especially, Ahmedabad, Indore, and Jaipur, where we already have a strong presence. These cities exemplify the untapped potential of tier-2 and tier-3 regions, where founders are building innovative solutions for local and global challenges. The Kotak BizLabs accelerator programme, is uniquely positioned to provide relevant and targeted support to early-stage entrepreneurs in these regions. By looking beyond the metros, this initiative fosters inclusivity and accessibility for startups that often lack access to structured resources and mentorship. Together, we aim to empower bold ideas and enable startups in underserved regions to thrive and contribute meaningfully to the innovation ecosystem.”
Sujit Jagirdar, Interim CEO, T-Hub, said, "T-Hub is delighted to partner with Kotak Mahindra Bank for the Kotak BizLabs accelerator programme, a transformative initiative addressing challenges faced by early-revenue stage startups. By combining Kotak’s vision and T-Hub’s ecosystem expertise, we aim to create significant opportunities for startups to access resources, mentorship, and industry connections that will support their growth journey. Together, we look forward to empowering startups to build sustainable businesses and contribute to India’s innovation landscape."
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