India’s largest carmaker Maruti Suzuki India, in partnership with the Indian Institute of Management Bangalore, will foster 26 start-ups in the mobility sector for a 9-month extensive incubation program.
The selected startups will undergo a three-month pre-incubation journey. They will undergo various sessions, workshops, peer-to-peer learning activities, the company said.
They will also receive regular one-on-one mentoring and advisory sessions, it stated.
Moreover, networking events, mock-pitches and interaction with investors will be major highlights of the initiative.
Thereafter, the ventures will be allowed to pitch for incubation and funding and the selected ventures will be taken forward for a further six-months incubation journey.
The incubation programme will help startups become large-scale businesses and create technology-led solutions to bring efficiency and add value to business functions, Maruti Suzuki India Managing Director and CEO Kenichi Ayukawa said.
The selected startups were shortlisted from over 400 applications received across India.
A selection panel comprising experts from Maruti Suzuki and NSRCEL evaluated the applicants and interviewed over 120 entrepreneurs.
Commenting on the tieup, NSRCEL Chairperson Venkatesh Panchapagesan said mobility is projected to reach 90 billion by 2030, with significant growth expected in ride hailing, shared mobility and more.
“We are therefore proud to collaborate with Maruti Suzuki, who we share a similar drive with, in developing mobility solutions for a better and more connected future. Together we aim to deliver fresh thinking and innovative solutions to the existing mobility ecosystem,” Panchapagesan added.