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GVFL and Brinc Enter Strategic Partnership to Launch Multi-sector Startup Accelerator
New Delhi: Brinc, a global venture accelerator with a focus on innovative technologies, and GVFL Limited (GVFL), one of the oldest sector-agnostic venture capital firms in the country, announced the launch of the A4X accelerator program. Designed to support startups across the following four strategic themes, the programs are set to leverage growth in Gujarat and the rest of India. The 4 programs will cover:
1. Consumer: Supporting startups (D2C businesses, consumer SaaS applications, and more) that address the consumption boom and increased demand for convenience, personalized products, and tailored experiences.
2. Industry & Enterprise: Supporting startups (Enterprise SaaS, Industrial IoT, and more) that provide industrial and enterprise solutions that drive operational efficiencies and increased productivity.
3. Emerging Tech: Supporting startups and emerging technologies (Blockchain applications, AI applications, and more) that are shaping the next wave of technological innovation. The world is witnessing a technology revolution with breakthroughs in AI, ML, IoT, Robotics, Blockchain, and more. The focus on emerging technologies enables participation in the next wave of technological innovation, as well as creating high-tech jobs, and catalyzing the formation of a globally competitive tech ecosystem in Gujarat.
4. Sustainability: Supporting startups (Alternate Protein, Climate Tech, Electric Mobility, and more) that align with global sustainability goals and cater to a rapidly expanding “green” market. Climate change and environmental concerns are gaining global attention, and investing in solutions promoting planet efficiencies is both a necessity and an opportunity. The program aims to support startups that align with global sustainability goals and cater to a rapidly expanding “green” market, contributing to Gujarat's transition towards a greener economy.
Drawing inspiration from GVFL's legacy of building successful businesses and Brinc's expertise in nurturing entrepreneurial talent, the program promises:
● A launchpad for disruptive startups aiming to revolutionize their respective industries.
● A 3-month intensive acceleration phase, offering startups access to invaluable resources, mentorship from industry stalwarts, and an initial investment ranging from ₹1.5 crores to ₹2 crores.
● Expert mentorship, investor connects, industry networking opportunities, and a supportive community of founders for collaboration and peer-to-peer learning.
Speaking on these developments, Kamal Bansal, MD of GVFL, said, “The accelerator program, set against the backdrop of a rapidly evolving technological and environmental landscape, is poised to be a catalyst for startups venturing into these diverse domains.”
The program aims to empower startups with the tools and insights needed to navigate their respective sectors effectively. The accelerator program will also provide unparalleled mentorship from industry veterans, ensuring startups harness best practices and avoid common pitfalls and facilitating networking opportunities with industry leaders and potential collaborators.
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”
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.”
Startups participating in the program will benefit from a holistic approach, encompassing mentorship, access to a global network, and tailored strategies for each sector. This collaboration between GVFL and Brinc is set to propel promising startups to the forefront of their respective industries.
Headquartered in Hong Kong, Brinc is a leader in global venture acceleration, operating 18 multi-disciplinary accelerator programs in seven countries. Brinc accelerates startups focused on the Internet of Things (IoT), blockchain technology, artificial intelligence, connected hardware, drones, robotics, clean energy, and food technology, all within a sustainability mandate. Brinc’s goal is to empower founders to accelerate humanity’s transition to a more sustainable, inclusive, and equitable future.
Brinc has a portfolio of 200+ companies with founders from more than 38 countries. Brinc also supports corporations with distributed innovation strategies, sourcing of new startups and technologies, as well as venture-building Web3-enabled businesses. Global corporations (Manulife, Huawei, Schneider Electric, Animoca Brands, Puma, Batelco, Merck, Omantel, Linrun Group and Zhihui Park), government organizations (Hong Kong Science Park, MBRIF and Guangdong Soft-tech Park), tertiary institutions (HK City University and National University of Singapore) and leading venture funds (Artesian, LeverVC, Tamkeen, and EDB) have all run programs with Brinc. In 2021, Brinc announced a series of venture funds to invest in high-potential early-stage companies through accelerators and provide LPs with a dedicated innovation platform and access to Series A+ co-investment opportunities.
GVFL Limited (formerly Gujarat Venture Finance Limited) is widely regarded as a pioneer of Venture capital in India. It is an independent, autonomous Board-managed venture fund manager based in Ahmedabad, Gujarat, India.
GVFL ushered in the dawn of venture capital in India. Founded in 1990 at the initiative of the World Bank, GVFL has supported ventures working on the cutting edge of technology as well as encouraged entrepreneurs with innovative ideas. Over the past two decades, GVFL has raised multiple venture capital funds which have supported over 105 companies. Today, GVFL has divested from over 75% of its portfolio companies with handsome returns.
GVFL has carved a niche for itself by making marquee investments in early-stage companies across sectors through various funds. Leveraging decades of full investment lifecycle experience in startup investing, GVFL focuses on highly scalable, innovative business models across sectors that use technology as an enabler or differentiator and are backed by credible teams.