New Delhi. Applications have started for the fourth batch of Excel's pre-seed scaling program, Excel Atoms 4.0. The application option will remain open till November 17. The global venture capital (VC) company announced this on Monday.
The current edition of the sector-themed programme focuses on two categories of pre-seed startups – those building for 'India', and those building in or with the space of Artificial Intelligence (AI).
Accel defines 'Bharat' as middle-income households spread across tier 2, tier 3 and rural India, which is currently estimated to have a consumer market of $500 billion. Interestingly, the top 20 per cent of the rural population has a higher SPCE (monthly per capita expenditure) than the top 50 per cent of the urban population. Accel believes that many Indian unicorns will emerge from this 'Bharat' opportunity.
Through the three-month hybrid program, pre-seed stage startups selected for Excel Atoms 4.0 will receive guidance from AI and India's top industry experts, and over $5 million in perks from leaders like AWS, Google, Stripe, and others to meet initial infrastructure needs. Startups that make exceptional progress during the program will be eligible for investments of up to $1 million.
Anand Daniel, Partner at Accel, will lead the 'India' group. Since joining the firm in 2010, Anand has focused on investments in India, consumer technology, online marketplaces, AI, fintech, and healthtech. He has led investments in ApnaMart, BlackBuck, Bounce, Emeritus, MyGlamm, Niyo, OrangeHealth, Rupeek, SenseHQ, SimpliSmart, Spinny, Swiggy, Vedantu, Zolve, and other early-stage companies.
The AI group will be led by Prayank Swaroop. Prayank is also a partner at Accel. He has been with the firm since 2011, focusing on areas such as AI, cybersecurity, marketplaces and SaaS. He has led investments in Avenir, Bizongo, Dhivez, Dr. Droid, Securedyne and Zetwerk, and other early-stage companies.
Founders in Accel Atoms 4.0 will also gain access to Accel's global community of over 300 founders, mentors, and potential customers, as well as collaboration with organisations such as 'X to 10X' to provide in-depth guidance, expert insights, and support.
The VC firm said one can visit https://atoms.accel.com to know more about the programme and apply.
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