Next Bharat Ventures IFSC Private Limited, a subsidiary of Suzuki Motor Corporation, has announced the launch of a ₹340 crore fund aimed at fostering social impact startups in India. The fund will target entrepreneurs working in agriculture, financial inclusion, rural supply chains, and rural mobility.
The flagship initiative, the Next Bharat Residency program, offers a 4-month immersive experience for early-stage entrepreneurs. Applications are open until July 31, 2024, with the program starting on October 14, 2024. Selected entrepreneurs will receive ongoing support and resources, even post-program, and equity investments ranging from ₹1 crore to ₹5 crore.Imphal, known for its vibrant market scene, stands to benefit significantly from initiatives like Next Bharat. Local entrepreneurs will gain access to crucial resources, mentorship, and funding, fostering economic growth and innovation in the region. The focus on rural supply chains and mobility can enhance the efficiency and reach of Imphal’s markets, driving sustainable development.
Toshihiro Suzuki, President and CEO of Suzuki Motor Corporation, emphasized the initiative’s aim to connect with India’s next billion people. Vipul Nath Jindal, CEO and Managing Director of Next Bharat, highlighted the goal of creating hundreds of profitable SMEs, rather than focusing on a few unicorns. The Suzuki Innovation Center, established with IIT Hyderabad, will also play a key role in this ecosystem, promoting Indo-Japanese collaboration for social good.
