/indianstartupnews/media/agency_attachments/s1FnhAYONODoxNkoC8xA.png)
Follow Us/indianstartupnews/media/media_files/EbbkxAi6W2BC79chEt8N.png)
Kamal Bansal MD of GVFL
Ahmedabad-based venture capital firm GVFL today said it has partnered with Marwari Catalysts, a category-specific startup accelerator, to launch the Xcelerate Program, a 3-month intensive initiative aimed at empowering startups based in Gujarat.
What would be the focus of the partnership?
The partnership between Marwari Catalysts and GVFL will focus on nurturing and exponentially scaling seed-stage companies in the health, food, and agritech sectors in the region.
The 3-month acceleration program will enable selected startups to receive guidance and mentorship from experienced founders and industry experts and a significant initial investment of Rs 75 lakh to Rs 2.50 crore, providing the necessary capital to fuel growth.
Kamal Bansal, Managing Director of GVFL, said, “We are thrilled to introduce the Xcelerate Program in partnership with Marwari Catalysts. Gujarat is brimming with entrepreneurial talent and is home to one of the largest and most vibrant startup ecosystems in the country.
Kamal said the Xcelerate Program is designed to catalyse the growth of promising startups in important sectors and provide expert mentorship, investment opportunities, and an extensive network for startups to drive innovation and economic development in Gujarat.
What are the benefits for the selected startups?
According to a statement, The selected startups and entrepreneurs will get an opportunity to connect with potential investors who can provide additional funding and support for them.
Moreover, a supportive community of over 100+ entrepreneurs and co-founders will provide a platform for collaboration, knowledge sharing, and peer-to-peer learning to the startups. The startups will also gain access to a network of industry professionals who can offer industry-specific knowledge and guidance, and resources and tools that can help them scale their business effectively.
Marwari Catalysts portfolio startups?
Marwari Catalysts is a Jodhpur-based category-specific startup accelerator that has invested in sectors, including cleantech, agritech, edtech, D2C, healthtech, fintech, SaaS, and e-commerce.
Some of its portfolio startups are Universal Cabon Registry, Jaipur Watch Company, Climekare, Tinkerly, Banksathi, RoyalPOS, and among others.
Sushil Sharma, Founder & CEO of MCats, said, “By joining forces with GVFL, we are not only enhancing opportunities for startups but also collectively empowering the startup ecosystem in Gujarat. The Xcelerate Program represents a unique synergy of Marwari Catalysts; passion for nurturing entrepreneurial talent and GVFL’s legacy of building successful businesses.”
Ahmedabad startup ecosystem landscape
According to StartupBlink, Ahmedabad is India's 8th best startup ecosystem and is ranked 8th in South Asia and 195th in the world. The city is home to leading tech-enabled and D2C startups, including Lendingkart, Locanix, BluSmart, Let's Recycle, Torchit, and MYBYK.
Also Read: