The best useful resource of all for enterprise founders and entrepreneurs is one another, believes Prayank Swaroop, a accomplice 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 study from each other. Accel is at the moment unveiling the second cohort of start-ups it’s supporting by means of Atoms, taking the full variety of companies in the neighborhood to 24.
By way of Atoms, Accel invests $250,000 of non-dilutive capital in every enterprise supported, supplies entry to a pool of mentors, and likewise 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 remainder for assist with a selected problem or downside, in addition to to different companies in Accel’s community; by pooling their information, 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 may be all issues to all its investee corporations. Whereas Atoms organises a spread of instructing and studying periods for founders, in addition to offering entry to one-to-one mentoring assist, it can’t be available 24 hours a day. And in any case, corporations usually have points or questions they’re reluctant to lift with their funding backers. They usually really feel much more snug discussing challenges and alternatives with different start-ups going by means of an identical 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 organising Atoms was whether or not we had been doing one thing completely 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, somewhat than offering assist with the a whole bunch of questions that founders have about their enterprise every day.”
This isn’t to counsel 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 direction of Collection A and B rounds extra shortly and effectively, he argues.
Accel Atoms goals to deliver founders collectively to assist each other
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 targeted particularly on the expertise sector, although a broad vary of corporations 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 based mostly throughout 5 completely 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 international locations to study 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 identical time. It has been including companies to the cohort over time, culminating in at the moment’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 building material-focused aggregator remodeling the way in which small and mid-size contractors in Indonesia buy building supplies.
- DataBrain: a knowledge platform enabling non-technical strategic groups to extract and analyse knowledge successfully.
- DhiWise: a synthetic intelligence-powered growth device that permits builders to ship production-ready supply code 10 occasions’ quicker for all types of apps.
- Dpanda: a decentralised platform enabling manufacturers to rework their net presence into micro ecommerce platforms that permit their viewers to make an instantaneous 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 enables folks to seek out the most effective experiences round them.
- Ripik: a software-as-a-service synthetic intelligence and machine studying platform for manufacturing industries, geared toward serving to the economic sector to function its factories extra effectively and successfully.
- Upflowy: a no-code device that enables anybody to construct and optimise personalised kinds that generate extra and higher certified leads.
- Youshd: a efficiency engine harnessing the ability of client networks to assist direct-to-consumer manufacturers succeed.
