Atal Incubation Centre-BIMTECH (AIC-BIMTECH) has collaborated with Real-Time Management Consultancy Services Private Limited, the parent company of Gurugram-based Startup Buddy Services, and has launched the first “Real-Time Accelerator Fund” with a corpus of Rs. 100 crore with a greenshoe option of another Rs. 100 crore. AIC-BIMTECH will play a major supporting role in pipeline and lead generation along with hand-holding the startups.
Dr. Abha Rishi, CEO of AIC-BIMTECH said, “The startups selected under this fund will also be eligible for free incubation benefits to the tune of more than 10 crores from us, along with access to our wide network of global partners and mentors.”
Atal Incubation Centre-BIMTECH is one of North India’s leading sector-agnostic business incubators located in Greater Noida (Delhi NCR), which aims to create economic and social impact through entrepreneurship. AIC- BIMTECH is driven by the Atal Innovation Mission (under Niti Aayog) to create high-class incubation facilities.
AIC-BIMTECH has been operational since January 20, 2018, and over the course of its journey, they have supported 182 startups across the country, formed 90+ national and international partnerships, and offers USD 1.34 million (Rupees 10.36 crores) worth of free benefits to its incubatees. 22 of AIC-BIMTECH’s incubatees have raised funds to the tune of USD 1.33 million (Rupees 10.29 crores).
The fund will invest in 20 exciting and high-growth startups every year, with a cheque size of Rs 1 crore on average. The focus is on Fintech, Web 3.0, D2C, B2B SaaS (Software as a Service), creators economy, electric vehicles, and other developing areas. In its 10-week accelerator program, the fund will support and mentor the selected startups.
Manish Aggarwal, Managing Director, and Pranay Mathur, CEO, Real-time Accelerator Fund will be leading the fund deployment. Real-Time plans to start investing by the month of July 2022 as it is in the last stage of its SEBI registration and is awaiting confirmation from the Securities and Exchange Board of India (SEBI).