Brinc and Cornerstone Ventures to invest $4.5 million in enterprise tech startups
Announce the launch of the ENTERPRISE NEXT accelerator program.
Kolkata (West Bengal) : Brinc, a global venture accelerator with a focus on innovative technologies, and Cornerstone Ventures (CSVP), an early-growth stage technology venture capitalist (VC), announce the launch of the ENTERPRISE NEXT accelerator program. The program is for startups building the next generation of enterprise-ready business solutions, such as software as a service (SaaS), at a time when India is rapidly becoming a global hub for such innovation.
Successful program applicants will get a bespoke curriculum and access to a team of seasoned mentors and Brinc’s global business network. In addition to receiving initial funding of US$100,000, startups will have the chance to receive up to US$500,000 in additional post-program funding from CSVP. While Technology Program Partner, Microsoft for Startups, has also committed a range of credits and services to eligible startups to the value of up to US$350,000. Alongside the aforementioned funding, those accepted will receive education; mentorship from CEOs, founders, managing partners, and directors from a wide array of industries; network access; and other support to scale up their businesses.
Brinc will shortlist candidates based on opportunity, scalability, capability, monetizability, and ESG-related metrics. The 15-30 most promising applicants will be further evaluated during a rigorous four-week pre-program boot camp run by Brinc and CSVP.
Manav Gupta, Founder and CEO of Brinc, said: “We’re delighted to be expanding our product offerings to have a focus on the growing Indian market. India’s technology landscape has evolved at an exponential rate, with B2B solutions gathering momentum across SaaS, e-commerce, financial technology, logistics and supply chain optimization, Industry 4.0, and the use of artificial intelligence and machine learning. Brinc is excited to be at the forefront of a growing Indian market by supporting game-changing entrepreneurs.
Karan Keswani, Brinc India’s Managing Director, said, “CSVP is amongst the few thematic funds in India that foresaw a market shift, leading to their current high-quality investment portfolio in the enterprise tech market and making them the ideal partner for this program. Startups accepted to the accelerator will benefit greatly from the expertise, industry insights, and network in the ecosystem that CSVP and their LPs bring.”
Rajiv Vaishnav, Managing Partner, CSVP, said: “Brinc is the perfect partner for us to engage with the early-stage ecosystem as we focus on what’s next for enterprise tech. Their platform brings global market access and prolific mentors with a deep understanding of nurturing promising startups, along with access to professional guidance to build robust businesses. We believe this program will identify and accelerate early-stage innovators in enterprise tech, and we look forward to working with the selected teams to contribute to scaling their presence and impact in the Enterprise world.”
Since entering the Indian market in 2019, Brinc has pioneered connecting Indian startups with the rest of the world. Initially supporting hardware startup initiatives, Brinc designed and opened its first accelerator program with the Government of Kerala to support early-stage hardware and IoT startups. Today, Brinc has a network of 150+ established VCs, investors, and corporate partners in India.
- The Brinc x CSVP ENTERPRISE NEXT accelerator program will be the first B2B enterprise tech program run by Brinc that specifically focuses on businesses in, or looking to enter, the Indian market
- Up to 45 startups will be accepted over three years
- CSVP will invest up to US$100,000 in each startup
- Technology program partner, Microsoft for Startups, will provide up to US$350,000 worth of credits and services to eligible participants
- Applications to the Brinc x CSVP ENTERPRISE NEXT Accelerator program are open now until January 10, 2023.
Businesses interested in connecting with Brinc startups or becoming program partners, please contact firstname.lastname@example.org.