Next Bharat Ventures IFSC Private Limited has lately announced the launch of a Rs 340 Crore fund to act as a growth catalyst for startups in Tier II and below geographies. The primary focus is to empower the Next Billion of India with entrepreneur support.
Next Bharat is a subsidiary of Suzuki Motor Corporation. It stands out as a hope for budding entrepreneurs who are passionate to make a difference in rural and informal sectors. Its flagship initiative titled Next Bharat Residency program offers a 4-month residency for early-stage entrepreneurs. The program is open for applications until July 31 and mainly focuses on entrepreneurs who prioritize social impact. The startups should have a clear problem-solving approach and simultaneously should be committed to contribute to the communities.
Suzuki Motor Corporation President and CEO Toshihiro Suzuki said Suzuki’s mobility business has reached 0.4 billion people in India and this means that a vast segment of the population is still untapped. Their goal is to connect with the ‘Next Billion’ people of India and extend beyond mobility.
The launch of Next Bharat Ventures marks first investment fund of Suzuki in India. It is aimed to nurture and empower impact entrepreneurs. The entrepreneurs will be entitled to receive financial backing and gain access the extensive Suzuki Group network as well as resources.
IIT Hyderabad alumnus Vipul Nath Jindal has been instrumental in shaping Next Bharat Ventures. He has more than five years of experience at Suzuki Japan. He has a track record of leading greenfield projects like the Suzuki Innovation Centre. He is simultaneously well-equipped to steer the new ambitious venture.
The Suzuki Innovation Centre was established in collaboration with IIT Hyderabad. It will now integrate with Next Bharat Ventures and continue its work on open innovation.
