Maruti Suzuki, IIMB shortlist 26 mobility start-ups

Our Bureau New Delhi | Updated on February 26, 2021

They will undergo an extensive incubation programme

Maruti Suzuki India Limited (MSIL), in partnership with Nadathur S Raghavan Centre for Entrepreneurial Learning (NSRCEL), the start-up hub at the Indian Institute of Management Bangalore (IIMB), on Friday shortlisted 26 mobility start-ups for a nine-month extensive incubation programme.

The collaboration, announced in August 2020, is a first-of-its-kind initiative by an automobile manufacturing company. It will help start-ups to channelise their efforts to bring industry-ready solutions and become large-scale businesses, MSIL said in a statement.

Maruti Suzuki ties up with IIMB to support start-ups

The selected entities will undergo a three-month pre-incubation journey during which they will be engaged in various sessions, workshops, peer-to-peer learning activities while they receive regular one-on-one mentoring and advisory sessions.

Networking events, mock-pitches and interaction with investors will be major highlights of the initiative. Post this, the ventures will be allowed to pitch for incubation and funding and the selected ventures will be taken forward for a further six-month incubation journey, it said.

Entrepreneurs interviewed

“Some of the brightest ideas have come from start-ups focusing on technology. They have created business-ready solutions relevant for industry. Through our partnership with IIM Bangalore, we are excited to foster and encourage some of the most innovative start-ups in the country. The incubation programme will help the start-ups become large-scale businesses, and also help industry with practical and technology-led solutions that bring efficiency and value to business functions,” Kenichi Ayukawa, Managing Director & Chief Executive Officer, MSIL, said.

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The 26 start-ups have been shortlisted amongst over 400 applications received across the country. The selection panel comprising experts from Maruti Suzuki and NSRCEL evaluated the applicants and interviewed over 120 entrepreneurs.

“Mobility is evolving at a rapid pace in India and is projected to reach 90 billion by 2030, with significant growth expected in ride hailing, shared mobility and more. Together we aim to deliver fresh thinking and innovative solutions to the existing mobility ecosystem. Maruti Suzuki, with its vast experience and market leadership in the automotive industry, will be able to significantly contribute to the development of the ventures, here at NSRCEL, IIM Bangalore, and the start-up ecosystem overall,” Venkatesh Panchapagesan, Chairperson, NSRCEL, said.

Among shortlisted start-ups are Blinkin Technologies, Garage on Road, Gypsee automotive, Automovill Technologies Pvt Ltd, Svan Autotech Pvt Ltd, Rays Aviation Technologies LLP, and Series 5.

Published on February 26, 2021

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