Automobile company Maruti Suzuki India on Wednesday announced applications for the 9th cohort of its corporate accelerator programme Maruti Suzuki Accelerator for global startups as well apart from Indian startups developing solutions relevant to automobile manufacturing and mobility market.
Formerly known as Mobility and Automobile Innovation Lab (MAIL), the accelerator programme will enable selected startups to do a paid proof of concept with Maruti Suzuki and potentially secure funding through the Maruti Suzuki Innovation Fund. Additionally, they will receive guidance from global and domestic startup mentors and participate in educational visits to Japan to establish global market connect.
“In 2019, we initiated a program with the aim to create an enabling ecosystem for startups with technology-driven innovations. Now, by opening the program to global startups, we are determined to further accelerate the development of innovative technologies relevant to the Indian market,” said Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India.
As part of the accelerator programme, the company works with startups to co-create technology-driven solutions that enhance customer convenience, efficiency of business processes and more.
According to the company, it has screened over 2,000 startups over eight cohorts and engaged with 56 startups since the launch of the accelerator programme in 2019. Out of this, 18 startups are currently the business partners for Maruti Suzuki.
“So far, Maruti Suzuki has generated a combined business of more than Rs 1 billion for these 18 startups,” it said.
India’s automobile sector has significantly over the years. According to the government data, the sector contributes around 7.1 per cent to the country’s GDP, up from 2.77 per cent in 1992-93 and provides direct and indirect employment to over 19 million people.
Some of the prominent startups in India’s mobility and auto sector in India are Ola, Ather Energy, BluSmart, Droom, Zoomcar, CarDekho, Euler Motors and more.