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With a corpus of Rs 340 crore to support early-stage startups, the Japanese automaker Suzuki has established Next Bharat Ventures, a venture investment arm dedicated to India. The fund’s mission is to support impact entrepreneurs who add value in Tier II and lower regions. Supporting social impact startups in industries like finance, agriculture, rural supply chains, and rural mobility is the initiative’s main goal.
Secondly, Next Bharat Ventures will make investments through a residency program. Applications for the first cohort of the program opened this week and the program will start in October of this year. This will resemble the residency programs offered by organizations like Y Combinator and Antler, but it will concentrate on companies that will use their businesses to positively impact society.
Secondly, Next Bharat Ventures will make investments through a residency program. Applications for the first cohort of the program opened this week and the program will start in October of this year. This will resemble the residency programs offered by organizations like Y Combinator and Antler, but it will concentrate on companies that will use their businesses to positively impact society.
Over the course of the next three to four years, Next Bharat Ventures hopes to make up to 20 investments annually. There will be cheque ranging in size from Rs 1 crore to Rs 8 crore. Social impact startups like agritech, supply chain management, financial inclusion, and rural mobility are just a few of the industries that the fund will prioritize. Maruti Suzuki India purchased a 6.44% stake in Amlgo Labs earlier this year.
The investments will be made over a 15-year period, with a focus on businesses that support workers in the informal economy, such as contractors and waste management personnel, as well as those that support the rural economy, such as farmers and artisans. Under its nurture program, Maruti Suzuki India chose six startups in June 2023: DriverShaab, Route2Jute, OiHelp, Hopun Innovations, Backyard Creators, and Salutem Ridegear. In collaboration with IIM Calcutta Innovation Park (IIMCIP), the program was run.
What is Actually Next Bharat Ventures
As mentioned in its official website, Next Bharat, is committed to helping impact entrepreneurs who are determined to make a significant difference in order to advance the Next Billion in India.
The organisation’s goal is to close the large income gaps in India by making the rural and informal sectors central to the story of Bharat’s development.
The crucial objective is to bring together impact entrepreneurs who are driven by community, cause, and contribution in order to create a revolutionary route forward for Next Bharat.
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