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Accel’s Atoms 3.0 accelerator aims to fuel growth of AI and Industry 5.0 startups

Accel’s Atoms 3.0 is an accelerator programme that offers pre-seed and seed-stage startups with access to funding, personalised mentorship, and industry-specific guidance.

Accel’s Atoms 3.0 accelerator aims to fuel growth of AI and Industry 5.0 startups

Thursday August 31, 2023 , 4 min Read

In today's fast-paced entrepreneurial environment, accelerator programmes are vital for guiding startups towards success. They provide resources, mentorship, and strategic insights that help shape future industry leaders and foster innovation across industries.

Recognising this, global venture capital fund Accel has introduced Atoms 3.0, the third edition of its Atoms programme. With a thematic focus, Atoms 3.0 is designed to accelerate the growth of early-stage startups in the field of Artificial Intelligence (AI) and Industry 5.0.

Pioneering the future of ventures

With a legacy that dates back to 2008 in India, Accel's portfolio includes notable companies such as Flipkart, Freshworks, Urban Company, and many others.

The first two Atoms cohorts, which included startups like Jify and Ripik.ai, have cumulatively raised over $160 million in funding over the past two years.

As explained by Prayank Swaroop, Partner at Accel, “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.”

Adding to this, he said, “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.

Drawing from the invaluable 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.”

Fostering synergy: AI and Industry 5.0 cohorts

Atoms 3.0 will host two handpicked cohorts; AI and Industry 5.0, led by Accel partners Prayank Swaroop and Barath Shankar Subramanian respectively.

The AI cohort will include companies using artificial intelligence for business applications, as well as those developing tools that are driving the AI ecosystem forward by focusing on AI builders, AI enablers, and AI users in India, Singapore, Indonesia, and the UAE.

The Industry 5.0 cohort will support India and Indonesia based startups looking to push the boundaries of manufacturing by seamlessly blending human cognition with computational intelligence.

Reflecting on the essence of innovation, Barath Shankar Subramanian, Partner at Accel, expressed, “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.”

As he continued, “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 Atoms Advantage

Startups selected for the Atoms 3.0 programme stand to gain a wealth of resources to fuel their journey towards success. The programme offers:

  • Investment: Startups selected to one of the Atoms 3.0 cohorts can secure up to $500,000 in investment.
  • Mentorship: The Atoms 3.0 cohort will be fully integrated into Accel's wide network, offering direct access to insights and guidance from industry leaders.
  • Workshops: Tailored workshops centred on AI and Industry 5.0 best practices, which will equip startups with effective strategies and solutions.
  • Community engagement: The programme fosters a collaborative environment by hosting community events, allowing startups to network and collaborate with peers who share their vision and mission.
  • Customer and investor interaction: Atoms 3.0 facilitates opportunities for its startups to engage with potential customers and investors, paving the way for meaningful partnerships and growth.
  • Tech partnerships: Through partnerships with leading tech giants like AWS, Microsoft, and Google Cloud, startups gain access to exclusive perks and resources that further their development.

How to apply

Applications for the AI and Industry 5.0 cohorts are open. The application window for the AI cohort closes on September 10, 2023, startups can apply to the Industry 5.0 cohort till September 23, 2023.

Startups keen to embark on this transformative journey can visit here and submit applications.