Next Bharat Ventures IFSC Private limited - a subsidiary of Suzuki Motor Corporation, has gone live with applications to their 4-month Residency Program, where in, shortlisted impact driven startups will be aided with funding starting from INR 1 Cr onwards. The primary mission of this program is to cultivate and nurture a deep rooted community of Impact enablers from Coimbatore, who are solving social problems in the domains of agriculture, financial inclusion, rural supply chain, and rural mobility.
The ‘Next Bharat Residency program’ includes a 4-month immersive residency for early stage entrepreneurs from Coimbatore. The applications for the residency program are now open for all the early stage passionate impact entrepreneurs. The application process is inclusive, with an easy application format to ensure broad participation, including WhatsApp-based submissions with a maximum 2-week application review time. The program is scheduled to commence on 14th October 2024. The selection criteria focus is on entrepreneurs who are impact-first, have a clear problem-solving approach, and are committed to contributing to the rural community or the Informal sector of India.
Vipul Nath Jindal, Managing Director and CEO of Next Bharat Ventures, said, “At Next Bharat, we believe in the transformative power of socially driven entrepreneurship to create a positive impact on the informal and rural economies of the country. Coimbatore, with its strong industrial roots and innovative spirit, provides the perfect environment for nurturing startups that aim to address rural challenges. The city’s long-standing tradition of entrepreneurship, particularly in textiles and engineering, aligns well with our vision to support ventures that can drive significant social impact. We look forward to working with Coimbatore’s local entrepreneurs, who are dedicated to making a meaningful difference in their communities.”
People selected for the program will remain part of the Next Bharat community for life, receiving ongoing support and resources even after its conclusion. The objective is to equip these ventures with the essential knowledge, networks, and resources including Risk Capital, to enable them to achieve scale and become small and medium-sized enterprises.