Maruti Suzuki India Limited announced opening of applications for the 9th Cohort of its Maruti Suzuki Accelerator, an initiative for startups. In an ambitious move, for the first time, the Company is inviting applications from global startups. Both Indian and global startups, with innovative solutions relevant to automobile manufacturing and mobility space, may apply and benefit from the program.
Hisashi Takeuchi, Managing Director and CEO, Maruti Suzuki India Limited, said, “The startup ecosystem is full of ideas and solutions relevant to the automobile manufacturing and mobility space. In 2019, we initiated a program with an aim to create an enabling ecosystem for startups with technology-driven innovations. Now, by opening the program to global startups, we are determined to further accelerate the development of innovative technologies relevant to the Indian market. This expansion will help drive technological advancements and generate good employment opportunities for the youth, thereby contributing to the nation’s economic growth.”
In 2019, Maruti Suzuki started Mobility and Automobile Innovation Lab (MAIL) to promote innovation within the automobile manufacturing and mobility space. Under this corporate accelerator program, Maruti Suzuki collaborates with start-ups to co-create technology-led solutions that improve customer convenience, efficiency of business processes, among others.
The program also provides startups with unique opportunities, including the potential for investment support through the Maruti Suzuki Innovation Fund.
Since the inception of this program, Maruti Suzuki has screened over 2,000 startups over 8 cohorts, and engaged with 56 startups. Of these, 18 of them have been onboarded as business partners. So far, Maruti Suzuki has generated a combined business of over INR 1 billion for these 18 startups.
Keeping in mind the requirements of the dynamic and evolving ecosystem in which the program operates, Maruti Suzuki decided to rebrand and create a new brand identity. Starting with Cohort 9, the erstwhile Mobility and Automobile Innovation Lab (MAIL) will be known as Maruti Suzuki Accelerator.