The six-month program provides startups with initial funding of Rs 25 lakh per startup and up to Rs 3.5 crore to a few selected startups.
Supply Chain Labs, an initiative by investment firm Lumis Partners on Thursday, announced the 2020 edition of the SCL accelerator program with the aim to handhold and fund startups, and work towards achieving the government’s objective to increase country’s share in the global supply chain. The program is recognised by ‘Startup India’.
The six-month program, designed to make early-to-growth stage startups scale-ready, provides them with an initial funding of Rs 25 lakh per startup and u
p to Rs 3.5 crore to a few selected startups, and also mentoring and access to corporate customers with whom they collaborate to solve complex large scale problems of the industry.
Ashutosh Mayank, Managing Partner, Supply Chain Labs, said in a statement, “Our aim is to support a generation of new age entrepreneurs, make them more self-reliant (Atmanirbhar), and boost our ‘Make in India’ initiative for achieving indigenous economic growth.”
Through its program ‘Supply Chain Labs Accelerator 2020’, SCL will nurture and invest in high-potential startups engaged in disrupting supply chain, warehousing and logistics.
Startups also get credits from partners like FreshDesk, RazorPay and AWS. In the last edition, concluded in Feb ’20, SCL selected nine supply chain startups out of more than 600.
Prajakt Raut, Managing Partner, Supply Chain Labs, said in a statement, “As corporations and countries scramble to build
resilience in their operations for the post Covid-19 world, they will have to pilot and adopt several innovative solutions. The solutions will need to be quick to deploy, and more importantly, flexible to allow companies to adjust their processes as the market dynamics change. This represents a significant opportunity for startups and developers and our accelerator program is designed to help startups quickly become enterprise-grade and scale-ready.”
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