Next Bharat Ventures aims to foster impact entrepreneurs in the domains of agriculture, financial inclusion, rural supply chain, and rural mobility
The subsidiary of Suzuki Motor Corporation will also launch a four-month immersive residency for early-stage entrepreneurs to help them with their businesses
Post the residency programme, the selected startups will receive INR 1 Cr to INR 5 Cr of equity investments
Next Bharat Ventures IFSC Private Limited, a subsidiary of Suzuki Motor Corporation, has launched an INR 340 Cr fund and a residency programme to catalyse the growth of the social impact startup ecosystem in India.
As a social impact investment fund, Next Bharat aims to foster impact entrepreneurs in the domains of agriculture, financial inclusion, rural supply chain, and rural mobility.
The company, in a statement, said that its flagship initiative, ‘Next Bharat Residency program’, will comprise a four-month immersive residency for early-stage entrepreneurs. It will feature mentorship sessions by industry leaders, providing opportunities for founders to collaborate, connect, and form a support system to kickstart and run their businesses.
Post the residency programme, the selected startups will receive INR 1 Cr to INR 5 Cr of equity investments. Individuals selected for the programme will remain part of the Next Bharat community for life, receiving support and resources even after the programme ends, the company said.
The programme is scheduled to commence on October 14, 2024.
Next Bharat said that its objective is to equip the upcoming ventures with the essential knowledge, networks, and resources, including risk capital, to enable them to achieve scale and become small and medium-sized enterprises.
Speaking on the initiative, Toshihiro Suzuki, president and CEO of Suzuki Motor Corporation, said, “Bharat has about 1.4 Bn people, but we have only reached about 0.4 Bn with our mobility business. Our goal is to connect with the “Next Billion” people of India, extending beyond mobility and becoming a part of India’s future story.”
The Suzuki Innovation Center, which was established along with IIT Hyderabad two-and-a-half years ago, will also become a part of Next Bharat Ventures.
“The Next Bharat investment framework focuses on horizontal scaling, aiming to create hundreds of profitable SMEs over a fund cycle, rather than concentrating on creating just two or three unicorns per fund cycle,” said Vipul Nath Jindal, CEO and MD of Next Bharat. “There are existing stakeholders in the ecosystem who are already enabling these amazing impact entrepreneurs in many ways. Our long-term ambition is to work closely with these stakeholders and bring them together to build compounding synergies within the ecosystem.”
The applications for the residency program have already opened for all the early-stage passionate impact entrepreneurs. The deadline for the application deadline is July 31.
The Japanese multinational automotive giant Suzuki Motor Corporation’s impact-focussed initiatives in India come at a time when the country is becoming a breeding ground for innovating climate-focussed ventures with significant experiments taking place across, agrifood and life sciences, including sustainable agriculture and food production, circular economy, and others.
The development also comes at a time when the country’s startup ecosystem is facing the brunt of the ongoing funding winter. As per Inc42’s analysis, Indian startups cumulatively raised investments worth $5.3 Bn in the first six months of 2024, which was a 1.8% decline year-on-year.
