VC firm GVFL joins hands with Brinc to launch multi-sector startup accelerator
A three-month rigorous acceleration will provide entrepreneurs with access to crucial resources, coaching from industry veterans, and an initial investment of Rs 1.5 crores to Rs 2 crore.
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GVFL Limited (GVFL), one of India's oldest sector-agnostic venture capital firms and global venture accelerator Brinc has joined hands to launch the A4X accelerator program. The programme is intended to drive growth in Gujarat and the rest of India by supporting entrepreneurs across four important areas.
A three-month rigorous acceleration will provide entrepreneurs with access to crucial resources, coaching from industry veterans, and an initial investment of Rs 1.5 crores to Rs 2 crore. It will also include expert mentorship, investor connections, industry networking opportunities, and a collaborative and peer-to-peer learning community of entrepreneurs.
Mihir Joshi, President of GVFL said, "GVFL’s approach has been providing a broad spectrum of support to its funded entities that range from strategic direction to governance support. Partnering with Brinc empowers us to extend GVFL’s ethos to seed stage investing & provide strategic value apart from capital to promising startups."
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The programme will cover consumer, industry & enterprise, emerging tech, and sustainability sectors.
1. Consumer: Assisting entrepreneurs (D2C firms, consumer SaaS apps, and others) that handle the consumption boom and rising need for convenience, personalised products, and personalised experiences.
2. Industry & Enterprise: Assisting startups (Enterprise SaaS, Industrial IoT, and others) that deliver industrial and enterprise solutions that promote operating efficiency and higher productivity.
3. Emerging Tech: Supporting companies and emerging technologies (such as blockchain applications and artificial intelligence apps) that are creating the next wave of technological progress. With developments in AI, ML, IoT, Robotics, Blockchain, and other fields, the world is seeing a technological revolution. The emphasis on emerging technologies allows Gujarat to participate in the next wave of technological innovation while also producing high-tech employment and catalysing the establishment of a globally competitive tech ecosystem.
4. Sustainability: Investing in firms (alternate protein, climate tech, electric mobility, and others) that connect with global sustainability ideals and serve a fast-developing "green" market. Climate change and environmental problems are receiving worldwide attention, and investing in solutions that promote planet efficiency is both necessary and advantageous. The program's mission is to help entrepreneurs that line with global sustainability goals and cater to a fast-developing "green" market, therefore assisting Gujarat's transition to a greener economy.
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."
Brinc, headquartered in Hong Kong, is a global venture acceleration leader, managing 18 multi-disciplinary accelerator programmes across seven countries. It is a startup accelerator focused on the Internet of Things (IoT), blockchain technology, artificial intelligence, linked devices, drones, robots, sustainable energy, and food technology, all with an emphasis on sustainability. Brinc's mission is to provide founders with the tools they need to accelerate humanity's transition to a more sustainable, inclusive, and egalitarian future.
GVFL marked the beginning of venture capital in India. It was founded in 1990 at the World Bank's suggestion to help businesses working on new technology as well as entrepreneurs with new ideas. GVFL has launched various venture capital funds that have funded over 105 firms over the last two decades, and it has sold over 75 per cent of its portfolio firms.
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