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.
Brinc and Cornerstone Ventures (CSVP) ENTERPRISE NEXT Accelerator Program to Invest $ 4.5 Million and Provide Expertise to India’s Most Promising Enterprise Tech Startups.
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 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 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.
Headquartered in Hong Kong, Brinc is a leader in global venture acceleration and operates 13 multidisciplinary accelerator programs across seven countries. Brinc accelerates startups focused on blockchain technology, artificial intelligence, connected hardware, robotics, clean energy and food technology, and Internet of Things (IoT), all within a sustainability mandate.
Brinc has an active portfolio of 150+ companies with founders from over 38 countries. Brinc also supports corporations with investment services, distributed innovation strategies, sourcing of new startups and technologies, as well as venture-building Web3-enabled businesses. Global corporations (Manulife, Huawei, Schneider Electric, Puma, Batelco, Merck, Omantel, Linrun Group, Zhihui Park), government organizations (Hong Kong Science Park, NEOM, MBRIF, Guangdong Soft-tech Park), tertiary institutions (HK City University, National University of Singapore) and leading venture funds (Artesian, LeverVC, Tamkeen, EDB) have all run programs with Brinc. In 2021, Brinc launched a series of venture funds to invest in high-potential early-stage companies through accelerators and provide LPs with a dedicated innovation platform and access to Series A+ co-investment opportunities.
Cornerstone Ventures (CSVP) Fund is India’s frontier Enterprise SaaS fund investing in highly scalable SaaS products with the potential to transform Enterprises. Going forward CSVP will enable innovators in the Enterprise Tech ecosystem who are working not only in enabling new business models (in particular SaaS models) but also seamlessly interacting and engaging with consumers and stakeholders (for instance web3.0 and metaverse ecosystem), enabling faster and secure transactions across the value-chain (leveraging blockchain infrastructure and tokenisation), and lastly helping the Enterprise of the future achieve carbon neutrality.
