Global venture capital firm Accel has announced the launch of Accel Atoms 4.0, the fourth edition of its popular pre-seed scaling program. This edition will focus on two primary categories: startups targeting ‘Bharat’ and AI innovations.
Targeting ‘Bharat’ and AI Startups
‘Bharat’ refers to middle-income households in Tier 2, Tier 3, and rural areas of India. These regions represent a significant market, often untapped by major industries. Anand Daniel, Partner at Accel, emphasized the vast opportunity that lies in Bharat, stating, “The Bharat opportunity is immense, and we expect multi-billion-dollar startups to emerge from this space. The top 20% of the rural population has a higher monthly per capita expenditure (MPCE) than nearly half of the urban population.”
With the help of Accel Atoms 4.0, startups will get access to the resources and support needed to create scalable, cost-effective solutions for Bharat’s growing needs.
In addition to Bharat-focused startups, the program will support AI-driven startups with visionary Indian-origin founders. The focus will be on businesses using AI for innovative solutions or developing new tools for the AI ecosystem. This includes companies working on everything from foundational AI technologies like language models to application-specific AI models.
Accel Atoms 4.0 Program Benefits
Accel Atoms 4.0 is a three-month hybrid program designed for pre-seed startups, whether they are at the idea stage or in the pre-product phase. Startups selected for the program will receive:
- Up to USD 1 million in funding, either as equity or convertible notes.
- Perks valued over USD 5 million from Accel’s extensive network of partners.
- Access to a global community of more than 200 founders, mentors, and potential customers.
Bharat and AI Applications
Applications for Accel Atoms 4.0 will open on September 16, 2024. Startups focused on Bharat can also apply through the Startup India website. Since 2021, Accel Atoms has supported 32 startups, which have collectively raised over USD 200 million. Notable alumni include DhiWise, Material Depot, Nymble, Ripik, Rigi, and Spendflo.
Accel is committed to supporting startups that address underserved markets and innovative technologies, and with Accel Atoms 4.0, they aim to create a new wave of successful companies in India and beyond.
