PwC India Introduces Accelerator to Help Blockchain, AI, and Other Startups

In order to assist businesses working in the fields of data analytics, blockchain, spacetech, and artificial intelligence, PwC India has started its first accelerator program. Under the three-month "Emerging Tech Startup Challenge" program, at least 15 late-stage firms with at least two to three successful commercial implementations and Series A or B funding would be chosen, according to a statement from PwC India. The statement further stated that these chosen firms will get 25 hours of pro bono advising services in areas like management, technology, go-to-market tactics, valuation, fundraising, and taxes. According to Sanjeev Krishan, chairperson of PwC India, the firm is supporting a vibrant and sustainable tech ecosystem in India by empowering up-and-coming tech businesses and giving them the resources they need to succeed.

Accelerator Focuses Startups Across Multiple Sectors

The accelerator focuses on entrepreneurs with solutions in both B2B and B2C markets that operate in a variety of industries, such as manufacturing, retail, financial services, infrastructure, healthcare, and telecommunications. According to Arnab Basu, partner and advisory leader at PwC India, the company hopes to build a growth ecosystem for its clients via this platform. PwC India is eager to observe how innovators and disruptors might tackle the most important issues pertaining to the expansion of its biggest clients. With the help of PwC's network of industry experts and advisors, companies will have access to a customised curriculum that includes seminars, one-on-one mentorship sessions, and demo days. The program's application period will begin on March 5 and end on May 5. By the end of June, the final selection will be finished.

Rise in Corporate-Backed accelerator Programmes in India

Flipkart Ventures, which offers equity investments up to $500K and mentorship created by a worldwide consulting firm, chose five startups in February for the third batch of its Flipkart Leap Ahead program. Nikhil Kamath, a co-founder of Zerodha, announced the WTFund's second cohort of nine firms that same month. The fund targets founders under 25 years old and offers awards up to INR 20 lakh. Startups from more than 50 cities submitted proposals to the fund, which provides "no-strings-attached" funds in addition to chances for strategic partnerships and coaching. Other noteworthy accelerator initiatives include 100X and the third cohort of IPV Ideaschool from Inflection Point Ventures, which provides INR 1 Cr in funding to pre-seed to seed stage entrepreneurs.Out of more than 1,900 submissions, 18 startups received an INR 23.3 Cr investment from VCs. SwanariTM TechSprint 3.0, a women-focused fintech program designed to improve financial inclusion for women in India, was also introduced by the Reserve Bank Innovation Hub (RBIH) in collaboration with IIMA Ventures.