The best useful resource of all for enterprise founders and entrepreneurs is one another, believes Prayank Swaroop, a companion at enterprise capital agency Accel India. That’s the considering behind Accel Atoms, a funding and assist programme that goals to construct a group of entrepreneurs who can be taught from each other. Accel is at this time unveiling the second cohort of start-ups it’s supporting by means of Atoms, taking the overall variety of companies locally to 24.
Via Atoms, Accel invests $250,000 of non-dilutive capital in every enterprise supported, offers entry to a pool of mentors, and in addition runs a 100-day studying and growth course for every founder. Above all, nonetheless, the initiative encourages companies to assist each other – each start-up within the Atoms programme can attain out to the remaining for assist with a selected problem or drawback, in addition to to different companies in Accel’s community; by pooling their data, they will advance extra shortly.
“First-time founders are getting youthful, and we see them asking the identical questions over and once more,” says Swaroop. “We’ve been investing in these companies for 10 years, however for founders, their questions are new to them.”
The truth of enterprise capital, says Swaroop, is that no agency will be all issues to all its investee firms. Whereas Atoms organises a spread of educating and studying periods for founders, in addition to offering entry to one-to-one mentoring assist, it can’t be readily available 24 hours a day. And in any case, firms typically have points or questions they’re reluctant to lift with their funding backers. They typically really feel way more comfy discussing challenges and alternatives with different start-ups going by means of the same journey.
There’s additionally a necessity, Swaroop believes, for communities that aren’t merely centered on attending to the following funding spherical. “One of many issues we requested ourselves when establishing Atoms was whether or not we have been doing one thing totally different to the accelerators and incubators already on the market,” he says. “We felt these teams tended to be very centered on getting start-ups to the following fund-raising, relatively than offering assist with the a whole lot of questions that founders have about their enterprise every day.”
This isn’t to recommend fund-raising is unimportant. Swaroop factors out that the 24 companies within the two Atoms cohorts have raised $100 million between them in follow-on fund-raisings since becoming a member of the programme. The assist that corporations get within the Atoms course of helps transfer them in the direction of Collection A and B rounds extra shortly and effectively, he argues.
Companies acquire entry to the Atoms programme by making use of immediately or by means of a referral from different enterprise capital funds and enterprise angels with which Accel works intently. Accel is concentrated particularly on the know-how sector, although a broad vary of firms fall inside that criterion.
The programme can also be increasing geographically. Whereas the primary Atoms cohort was centered on Indian start-ups, this second spherical contains companies primarily based throughout 5 totally different jurisdictions. Accel was notably eager to work with South-East Asian companies, the place the start-up surroundings is now gathering tempo. “There’s an actual alternative for entrepreneurs in these nations to be taught from their friends in India, which is just a bit additional forward,” Swaroop provides.
The second cohort of Atoms additionally varies barely in that Accel hasn’t taken all the businesses on on the similar time. It has been including companies to the cohort over time, culminating in at this time’s announcement of the completed complement (purposes for the third cohort at the moment are open till the tip of the 12 months). The ten companies supported are:
- BRIK: a business-to-business development material-focused aggregator reworking the best way small and mid-size contractors in Indonesia buy development supplies.
- DataBrain: an information platform enabling non-technical strategic groups to extract and analyse information successfully.
- DhiWise: a man-made intelligence-powered growth instrument that permits builders to ship production-ready supply code 10 occasions’ quicker for every kind of apps.
- Dpanda: a decentralised platform enabling manufacturers to remodel their internet presence into micro ecommerce platforms that enable their viewers to make an on the spot buy on the level of curiosity.
- Fishlog: a business-to-business market and a community-driven ecosystem that goals to streamline the seafood provide chain throughout Indonesia.
- Intestine Wellness Membership: an initiative to heal gut-related issues naturally utilizing conventional meals and yoga.
- Mello: a discovery platform that permits folks to seek out the very best experiences round them.
- Ripik: a software-as-a-service synthetic intelligence and machine studying platform for manufacturing industries, geared toward serving to the commercial sector to function its factories extra effectively and successfully.
- Upflowy: a no-code instrument that permits anybody to construct and optimise personalised types that generate extra and higher certified leads.
- Youshd: a efficiency engine harnessing the facility of client networks to assist direct-to-consumer manufacturers succeed.