The Japanese automaker Suzuki has established Next Bharat Ventures, a venture investment division devoted to assisting India’s early-stage entrepreneurs, in a noteworthy step to strengthen the country’s startup scene. This fund, which has a considerable endowment of Rs 340 crore, intends to promote entrepreneurship and innovation in a variety of areas.
Next Bharat Ventures: A New Initiative
Following this, Bharat Ventures will function as a Suzuki subsidiary, with Suzuki serving as the only limited partner (LP) in the initial fund. Suzuki’s commitment to supporting and investing in the developing Indian startup scene is demonstrated by this calculated move.
Residency Program and Investment Focus
Beginning in October of this year, the fund will accept applications for its inaugural cohort of companies as part of a residency programme. On Thursday, the program’s application period commenced. Like well-known residency programmes like Y Combinator and Antler, Next Bharat Ventures will prioritise assisting startups who use their ventures to make a positive social impact.
For the next three to four years, Next Bharat Ventures intends to make up to 20 investments a year. The range of investment amounts is Rs 1 crore to Rs 8 crore. The fund will prioritise certain industries, such as:
- Supply Chain Management; – Financial Inclusion; – Agritech; – Rural Mobility
Long-Term Vision and Impact
Next Bharat Ventures, which has a 15-year investment horizon, supports companies that employ people in the informal sector, like waste management and gig workers. The fund will also give priority to projects that strengthen the rural economy, especially those that involve farmers and artisans.
Maruti Suzuki’s Previous Initiatives
Six companies were chosen in June 2023 by Maruti Suzuki India, a Suzuki subsidiary, as part of its nurture programme, which was carried out in association with IIM Calcutta Innovation Park (IIMCIP). Among the chosen startups were:
- DriverShaab
- Route2Jute
- OiHelp
- Hopun Innovations
- Backyard Creators
- Salutem Ridegear
Earlier this year, Maruti Suzuki India further expanded its startup portfolio by acquiring a 6.44% stake in Amlgo Labs.
Final Thoughts
With the establishment of Next Bharat Ventures, Suzuki has made a major financial commitment to the Indian startup scene. Through the provision of financial support and an organised residency programme, Next Bharat Ventures aims to stimulate innovation and social impact in a range of industries. Suzuki’s long-term goal of fostering the entrepreneurial spirit and assisting in India’s economic progress is reflected in this programme.
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