Accel Atoms 4.0, the fourth cohort of global venture capital firm Accel’s pre-seed scaling program, is inviting applications from Monday from promising startups in two categories: those building for Bharat’ and those focused on Artificial Intelligence (AI).
The application window closes on November 17, 2024.
The company defines Bharat as middle-income households across Tier 2, Tier 3 and rural India, which is estimated to represent a $500 billion consumer market opportunity.
The richest 20 percent of the rural population have a higher monthly per capita expenditure (MPCE) than about 50 percent of the urban population.
Accel believes multiple Indian unicorns will emerge from the “Bharat” opportunity, the company said in a statement. A “unicorn” in industry jargon refers to a private startup that has a valuation of more than $1 billion.
Through this three-month hybrid program, pre-seed-stage startups selected for Accel Atoms 4.0 will receive mentorship from top industry experts in AI and Bharat. They will also receive over $5 million in benefits from leaders like AWS, Google, and Stripe to cover initial infrastructure needs.
Startups that make exceptional progress during the program will be eligible to receive an investment of up to $1 million.
Accel Partner Anand Daniel will lead the ‘Bharat’ cohort.
Since joining the firm in 2010, Daniel has focused on investments in ‘Bharat’, consumer tech, online marketplaces, artificial intelligence, fintech and healthtech. He has led investments in ApnaMart, BlackBuck, Bounce, Emeritus, MyGlamm, Niyo, OrangeHealth, Rupeek, SenseHQ, Simplismart, Spinny, Swiggy, Vedantu, Zolve and other early-stage companies.
The AI cohort will be led by Prayank Swaroop.
Swaroop, also a partner at Accel, has been with the firm since 2011, focusing on sectors such as AI, cybersecurity, marketplaces and software as a service (SaaS).
He has led investments in Aavenir, Bizongo, DhiWise, Dr. Droid, Securden and Zetwerk, and other early-stage companies.
Accel Atoms 4.0 founders will also have access to Accel’s global community of over 300 founders, mentors and prospects, as well as partnerships with organizations like xto10x’ to offer deeper mentorship, expert insights and support.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: September 16, 2024 | 18:35 IS
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