Get All Access for $5/mo

IIM Ahmedabad joins hands with SAP to catalyse regional start-up ecosystem From this accelerator, at least two start-ups will receive seed funding of Rs 40 lakh towards the end of programme

By Entrepreneur India

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

@RapidSOS

Tapping into the entrepreneurial energy of Gujarat, the Center for Innovation Incubation and Entrepreneurship (CIIE) at IIM Ahmedabad (IIMA) has partnered with SAP India to create the first Gujarat-focused accelerator programme, as a part of an integrated strategy to catalyze the regional start-up ecosystem. Teams from CIIE and SAP will work closely with innovative tech-enabled start-ups for a period of three months to help them maximise their business potential.

From this accelerator, at least two start-ups will receive seed funding of Rs 40 lakh towards the end of programme. Earlier this year in May, the President of SAP Asia Pacific Japan, Adaire Fox - Martin had announced the launch of this programme.

Supporting Dynamic Entrepreneurs

Gujarat has an interesting dynamic which consists of several second generation entrepreneurs helming family-run traditional businesses. The accelerator hopes to tap into that wellspring for both – ideas and mentoring, as well as funding and adoption of new technologies emerging from the program.

To support the regional start-up ecosystem, CIIE had recently organised #PitchAhmedabaf in association with TiE Ahmedabad chapter to help Ahmedabad-based start-ups connect with local investors. The Gujarat Accelerator would be a step further in the direction of strengthening local ecosystem.

"Through this programme, CIIE aims to achieve a two-pronged objective. First, this program will exclusively focus on scouting and supporting entrepreneurs from Gujarat and thereby, create a pipeline of investable start-ups from this region. While several successful start-ups are emerging from metropolitan cities, little is being done to support and channel start-ups from smaller cities and towns. This accelerator hopes to develop a model for supporting such entrepreneurs. Second, through this programme, CIIE aims to catalyse support from several organizations like angel networks, co-working spaces, fabrication labs, incubators, industry associations, technology communities, academia, and more that have been working towards creating a vibrant entrepreneurial ecosystem in this region. Stronger collaboration between different stakeholders forms the key to developing a robust ecosystem," said Prof Rakesh Basant, Chairperson, CIIE Initiatives.

Integrating Regional Entrepreneurial Energy

The accelerator will support tech entrepreneurs across key industries – including Internet, Mobile, IoT, Healthcare, Education, Sports, Cleantech, Smart city, Food, etc., by providing them with operational guidance and access to capital. The CIIE team, along with other mentors, angels and domain experts, will help these start-ups validate their core business, product and financial assumptions through continuous review process.

Commenting on the new deal, Sunil Parekh, who is on the advisory board of the Gujarat Accelerator said, "I sincerely hope the CIIE-SAP led Gujarat Accelerator makes an attempt at integrating traditional entrepreneurial energy of the state into a new innovative enterprise creation. This has a huge scope for mutual benefit".

CIIE helps entrepreneurs solve India's most difficult problems in areas like energy, agriculture, healthcare and affordable technology. Set-up in collaboration with Government of India and Gujarat Government, CIIE is one of India's leading entrepreneurship centre, and operates different initiatives including incubators, accelerators and venture funds to support entrepreneurs. "CIIE has been a pioneer in the startup acceleration space in the country. We want to leverage our deep experience, expertise and networks and work with aspiring entrepreneurs to help create investable startups out of Gujarat," said Priyanka Chopra, Director of Portfolio, CIIE.

News and Trends

Multiples Private Equity Leads INR 1000 Cr Funding in Shubham Housing

With the raised funds, the Gurugram-based platform aims to propel its growth trajectory, diversifying its product offerings and strengthening its national footprint.

News and Trends

Recur Club Announces Credit Offerings for Startups Beyond Series A and SMEs

In FY 24–25, the platform also plans to deploy an additional INR 2000 crores through its Recur Swift program for startups.

News and Trends

Orios Venture Partners Leads USD 1.45 Mn Investment in Climate Tech Startup Sustainiam

The fresh funds will be used to launch a digital platform for trading environmental assets, scale its workforce, and expand operations globally.

News and Trends

MPL Acquires Stake in CloudFeather Games to Enhance Skill-Gaming Ecosystem

MPL integrates CloudFeather's advanced gaming infrastructure and liquidity solutions to enhance platform stability and elevate the gaming experience for its 120 million users across India, the US, and Nigeria.

News and Trends

More Funding Needed for Startups, AI to be Significant in the Future

Significant resources and funding is needed to create a strong impact in the startup ecosystem artificial intelligence (AI) starts to play a more significant role, Vineet Rai, Founder and Chairman of Aavishkar said on the sidelines of the recently-concluded Sankalp Bharat Summit in Varanasi.

News and Trends

Three Things Yuval Noah Harari Warns About Artificial Intelligence

Warning against complacency, Harari urged stakeholders to act decisively to steer AI toward empowerment and collaboration rather than control and exploitation