A mobility accelerator is a program that supports and invests in startups working on transportation and mobility solutions. These accelerators typically provide a combination of funding, mentorship, networking opportunities, and other resources to help startups grow and succeed.
The goal of a mobility accelerator is to help startups develop innovative solutions that can improve transportation and mobility, whether by reducing traffic congestion, improving public transit, increasing the adoption of electric vehicles, or any number of other areas. By providing support and resources to startups in this space, mobility accelerators can help drive innovation and promote positive change in the transportation industry.
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The mobility sector is estimated to reach a global market size of $2.7 trillion by 2030, with India’s CAGR expected to be 49% compared to the global average of 22%. It is anticipated that there will be 50 million electric cars (EVs) running on Indian roads by 2030 and the micro-mobility market size in India is pegged at $60 billion.
Furthermore, it is expected that by 2030, EV financing will account for 80% of the retail vehicle finance industry in India, totalling to $320 billion for smart transportation and linked logistics.
Green Mobility is a Sanchiconnect initiative developed in conjunction with green mobility-focused venture funds to assist IP-led enterprises in contributing to the growing mobility startup ecosystem.
There are various reasons why a business developing automotive or mobility solutions might want to apply to a motor vehicle accelerator programme. Some of the potential advantages of participating in an accelerator include:
Funding: Several accelerators offer startup money in exchange for stock, which can be a valuable source of capital for early-stage enterprises.
Mentoring: Mentorship from experienced industry professionals is frequently provided through accelerators, which can assist entrepreneurs in refining their business models, improving their products, and overcoming hurdles.
Networking: Accelerators allow startups to network with other entrepreneurs, investors, and potential customers in the field, which can lead to the formation of lucrative relationships and partnerships.
Resources: Accelerators frequently provide companies with resources such as office space, legal and accounting services, and marketing and branding assistance, all of which can help them scale more rapidly and efficiently.
Acceptance into an accelerator programme can bring validation and credibility to a firm, which can help it recruit investors, customers, and talent.
Overall, participating in a motor vehicle accelerator programme can be a terrific method for businesses developing mobility solutions to gain access to resources, mentorship, and investment, as well as build significant industry ties.