- Accel introduced Atoms 3.0 earlier this year in a new avatar of theme-based cohorts - Artificial Intelligence(AI) & Industry 5.0
- The Atoms program was launched 23 months ago and, to date, has invested in 24 companies across two cohorts
- The applications for the AI & Industry 5.0 cohort open on 26th July, 2023 and can be accessed at Atoms3.0
SINGAPORE and JAKARTA, Indonesia, Aug. 9, 2023 /PRNewswire/ -- Global venture capital firm Accel today announced the opening of applications for the AI and Industry 5.0 cohorts under Atoms 3.0, the new avatar of Atoms designed to help early-stage AI and Industry 5.0 startups in India, Southeast Asia and the UAE.
Accel Atoms is an accelerator program that provides pre-seed and seed-stage startups with access to funding, personalized mentorship, and industry-specific guidance from top operators and founders. Since the launch of the program in August 2021, Atoms has invested in 24 companies across two cohorts. These companies have since raised a total of over $160mn in funding.
The revamped Atoms 3.0 program, based on valuable feedback from previous cohorts and the broader ecosystem, introduces a sector-based approach. Through closed groups, early-stage founders can collaborate, interact, exchange ideas, and grow together in a more personalized learning environment. The redesigned Atoms 3.0 program stands out as the sole sector-specific program catering to early-stage startups, featuring distinct and personalized cohorts tailored to various sectors.
The AI cohort will be led by Prayank Swaroop, while the Industry 5.0 cohort will be spearheaded by Barath Shankar Subramanian. They will be supported by a team of experienced Accel investors, operators and mentors. Each cohort will consist of a small number of companies and will follow its own duration and methodology to help these companies prepare for success. Closed groups enable better collaboration, interaction, exchange of ideas, and collective growth, providing a more personalized learning journey.
The program will consist of a series of workshops, mentorship sessions, and networking events designed to help startups validate their ideas, build their teams, and raise capital. Selected cohort companies benefit from:
- Up to $500K in investment
- Access to Accel's mentorship network
- Workshops on AI and Industry 5.0 best practices
- Community events with other AI and Industry 5.0 startups
- Meet-ups with potential customers
- Mixers with investors and Accel portfolio companies
- Perks from Atoms partners like AWS, Azure and Google Cloud
- Webinars, On-ground events, AMA sessions with industry experts
The focus on AI and Industry 5.0 stems from Accel's recognition of their immense potential to revolutionize industries and reshape the future:
- The rise of AI presents a pivotal moment in human history, with the potential to significantly impact diverse industries and redefine the status quo. For the AI cohort, Atoms is looking for companies that are using AI innovatively for business applications as well as companies that are building development tools for the AI ecosystem.
- Industry 5.0 represents a future where humans collaborate with smart manufacturing machines, fostering a carbon-neutral and energy-efficient industry. Accel aims to support startups operating in sectors such as manufacturing, pharmaceuticals, oil and gas, agri-tech, and food-tech, as these industries embrace the transformative power of Industry 5.0.
Prayank Swaroop, Partner at Accel, said, "Zero-to-one is the most challenging journey for any entrepreneur, as it sets the foundation for the business. Our goal is to work with founders to develop the core DNA that makes a company exceptional."
He further added, "We believe that AI will have a transformative impact on a wide range of industries, and we want to support the next generation of AI entrepreneurs in India and SEA. AI startups in this region need a lot of help in competing globally, with Atoms we intend to help these companies with a running start."
With insights from our first two Atoms cohorts, we have transformed Atoms 3.0 into a thematic venture, launching AI and Industry 5.0 cohorts aimed at providing bespoke guidance to handpicked startups.
Barath Shankar Subramanian, Partner at Accel, said, "At Accel, we believe that innovation has the power to reshape industries and create a lasting impact on society. There are strong tailwinds powering manufacturing and the next wave of growth will be powered by tech and our mission is to empower founders building that tech."
He further added, "We are thrilled as we open the applications for the Industry 5.0 cohort. Together, we will build the foundations of tomorrow's industries, unlocking unprecedented opportunities and shaping a future that is not only efficient and profitable but also inclusive and sustainable."
The applications for the AI and Industry 5.0 cohorts of Atoms 3.0 are now open and will close on 10th September 2023 for AI and 23rd September 2023 for Industry 5.0. To apply, please visit [Website]
The cohorts with selected startups will commence on 20th September 2023 for AI and 30th September, 2023 for Industry 5.0.
Read the Atoms blog to learn more about the redesigned Atoms 3.0 program (Link)
For more information on the Atoms program, visit (LINK)
About Accel
Accel is a global venture capital firm that aims to be the first partner to exceptional teams everywhere, from inception through all phases of private company growth. Accel has been operating in India since 2008, and its investments include companies like BookMyShow, Browserstack, Flipkart, Freshworks, FalconX, Infra.Market, Chargebee, Clevertap, Cure Fit, Musigma, Moneyview, Mensa Brands, Myntra, Moglix, Ninjacart, Swiggy, Stanza Living, Urban Company, Zetwerk, and Zenoti, among many others. We help ambitious entrepreneurs build iconic global businesses. For more, visit www.accel.com or https://twitter.com/Accel_India.
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