Capital-A and SanchiConnect presents a one-of-its-kind manufacturing and hardware tech-focused accelerator program with an investment commitment (termsheet) in 30 days to 5-6 selected startups & MSMEs. The program intends to fast-track startup/MSME growth with funding of INR 3–4 Cr and tailored go-to-market support.

Maxcel is primarily for startups in the Manufacturing and Hardware space that leverage technologies such as Industrial Automation, IoT, Robotics, CleanTech, Smart Manufacturing (Industry 4.0), Embedded Systems, Edge Devices, ESDM (Electronics System Design and Manufacturing), Product Design Tools, and EV Hardware Components. Also startups that leverage technology and intellectual property (IP) disrupting traditional manufacturing processes

However, we are also open to investing in audacious entrepreneurs — change-makers using a deep tech or product-led approach to solve real-world challenges in the physical and industrial world.

We are looking for startups across various stages – starting from a Minimal Viable Product* stage – upto those that are in an early stage and are generating revenues. 

(* Minimal Viable Product is a stage wherein the product/solution is ready for early customers who would be able to give useful feedback. Companies that do not have a Minimal Viable Product ready and have not provided their product/solution for pilots to early customers should refrain from applying.)

No, DPIIT registration is not mandatory to apply for the Maxcel program. However, it is always beneficial for startups to register with DPIIT to avail various government benefits such as tax exemptions, easier compliance, and access to startup schemes.

For Maxcel, your startup just needs to meet the program’s eligibility criteria—having an MVP, early traction (revenue/pilots/LOIs), and working in the relevant sectors.

Yes, the startup must be incorporated in India.

Yes, however, its chances of selection may be reduced.

It means that a product/service is not restricted to a particular market and can expand to multiple geographies outside India.

Yes, such startups can also apply to the program. We always encourage co-investors so that a startup has access to a larger pool of capital as it grows.

Yes, you may apply again – but only if there have been any significant changes since the last time you applied.

No, your application will not be considered. All applications must be submitted via this link

The deadline is 10th May, 2025 at 12 midnight IST.

Call for Applications: 15th April – 10th May

Cohort Finalization: By 30th June

Acceleration Program: 1st August – 31st October

Demo Day: November – December (tentative)

Stage 1 : Selection of applicants will be on the basis of the Initial application form 

Stage 2 : Basis the details provided in the questionnaire, calls/demos will be scheduled

Stage 3 : We may call for more information basis our findings during calls/demos

Stage 4 : If your startup has passed the above stages, we will set up meetings with the partners at Capital A to evaluate you on your entrepreneurial and leadership skills.

Stage 5 : If all goes well, we would issue a term sheet that will have all the legal/commercial aspects covered.

Stage 6 : An external third party will conduct due diligence. 

Cohort Finalization: By 30th June

Acceleration Program: 1st August – 31st October

Demo Day: November – December (tentative)

Stage 7 : If the due diligence report is clear, and all the commercials and legal have been agreed to, we shall sign the Shareholders’ Agreement. Post signing of Shareholders’ Agreement, the funding amount will be allocated.

Maxcel team will communicate the result directly via email after the end of each round to all the eligible startups.

Shortlisted founders, at each stage, will be contacted for further evaluation.

If you receive a rejection email, it does not mean that your venture is not worth funding but that it does not meet with our investment thesis and criteria. We would encourage you to persevere and search for funding elsewhere.

Post the deadline, we shall evaluate each deal and communicate via email whether a startup has progressed to the next round or has been rejected. We will be sending you an email in both the circumstances i.e. at the time of rejection or when a startup progresses to the next round.

The final selection will be communicated to the startups within 30 days after the deadline of application.

Selected companies will receive a term sheet from Capital-FA & SanchiConnect. 

The selected founders will be mentored by the partners at Capital A and the SanchiConnect team, who have experience in technology, strategy, financial management, global operations, etc. Also 1-on-1 sessions with industry leaders, seasoned founders, and functional experts will be done during the 12-week accleration program.

If the startup dors well we may participate in the follow-on funding rounds with even larger cheques.

Yes, You can email your queries at maxcel@sanchiconnect.com or book a slot for an AMA

Note: Any applications sent directly to the above email-id will not be considered for the Maxcel Program

We are a founder friendly program & do not charge any program fee from startups. We do reserve right to invest in each selected company through partly paid equity.

The program is intended to assist founders in the early stage in developing a successful business through:
– Accelerators offer initial capital in exchange for equity. Some are equity-free and backed by corporates, governments, or nonprofits.
– Collaboration/ Partnership with ecosystem partners
– Mentorship around IP frameworks, & relevance, compliances, roadmap to $10 million ARR