Hero MotoCorp Launches Accelerator For Mobility Startups

Auto giant Hero MotoCorp has launched an accelerator programme to support startups in the automotive space.

The 12-month programme, Hero For Startups, aims to identify and fund promising startups across India which have the potential to transform the future of the automotive industry, the company said in a filing.

Under the initiative, selected startups will get access to Hero MotoCorp’s research and development facilities in Germany and India, besides the company’s network of dealers, suppliers and partners, along with mentorship.

It further said that the shortlisted startups will also get the opportunity to work on paid Proofs of Concept (PoCs) to integrate their solutions into Hero MotoCorp’s product portfolio.

“Hero For Startups is our commitment to shaping the future of mobility and beyond through innovation, entrepreneurship, and collaboration. Inviting dreamers, doers, and visionaries, this initiative is a catalyst for extraordinary ideas to tackle real-world challenges for Bharat while opening doors to unprecedented opportunities,” said Hero MotoCorp’s executive chairman Pawan Munjal.

The programme includes three objectives, fostering cutting-edge technological innovations, collaborating with emerging startups to invigorate the automotive industry and promoting sustainable, long-term solutions.

According to the company, a startup has to have a working prototype or a minimum viable product (MVP), along with a dedicated team with at least two cofounders or core team members, to be a part of the accelerator. 

Besides, it must be a registered business entity in its country of operation.

This comes at a time when several companies are launching accelerator programmes in India as part of their efforts to strengthen various sectors.

For instance, in May, Delhi NCR-based deeptech enablement platform SanchiConnect teamed up with early stage VC fund YourNest Venture Capital for the Velocity Fast Track Startup Funding Program, an accelerator for deeptech startups in India.

Meanwhile, startup incubator IIMA Ventures has launched an accelerator programme for first time investors via which it will offer professionals with skills, knowledge and experience needed to succeed as early stage investors.