Maruti Suzuki Expands Global Accelerator, Boosts Mobility Innovation
The ninth cohort of Maruti Suzuki Accelerator will now onboard Indian and global startups working on innovative solutions in automobile manufacturing and mobility. The company is seeking, under the program, to accelerate technologies for the Indian market, Hisashi Takeuchi, Managing Director and Chief Executive Officer, Maruti Suzuki India Limited, said in a statement.
Participants of this program would be mentored by experts from Maruti Suzuki and international startup ecosystems, including paid proof-of-concept projects, educational visits to Japan, and access to the Maruti Suzuki Innovation Fund for funding.
"SCOPE of this expansion is to bring technological advancement and employment opportunities on a large scale, thereby contributing to the economic growth of the nation", Takeuchi said.
The accelerator has received more than 2,000 start-ups across eight cohorts since its inception in 2019. It has incubated 56 start-ups, of which 18 have become business partners with Maruti Suzuki, and have generated a cumulative business of more than Rs 100 crore.
Currently referred to as the Mobility and Automobile Innovation Lab, or MAIL, the accelerator will henceforth be known as the Maruti Suzuki Accelerator from the next cohort onwards.
The move by Maruti Suzuki thus underlines the faith in the ability of this FOF to foster innovation in mobility, aligning very closely with global trends but also allowing a strong hue of local entrepreneurial zeal.