A new accelerator programme has been launched to power early-stage manufacturing startups and micro, small, and medium enterprises (MSMEs).
The initiative, dubbed MaXcel, is a pioneering effort designed to fast-track the growth of companies working in precision manufacturing, semiconductors, industrial automation, and allied technologies—sectors deemed critical for India’s sustainable economic future. Set to run over a 24-week period, MaXcel will provide selected startups with INR 3–4 crore in rapid disbursal funding. What sets this programme apart is the speed of execution, with term sheets expected to be issued within just 30 days. This financial backing is coupled with a 12-week go-to-market module, providing startups with access to industry veterans, potential pilot deployments, corporate partnerships, and a global demo day platform.
At the core of the MaXcel initiative is the belief that India’s next technological leap will not come from consumer apps alone, but from the nation’s shop floors, factories, and industrial corridors. While digital-first startups have long dominated the funding and media spotlight, this programme turns the focus towards the physical economy—one rooted in manufacturing, energy efficiency, material science, and automation. The programme seeks to attract startups that already have minimum viable products (MVPs), pilot deployments, or early-stage revenue. These ventures are expected to operate in deeptech domains, including smart factory systems, robotics, frugal automation, industrial Internet of Things (IoT), and advanced materials—areas increasingly aligned with India’s broader goals of creating zero net carbon, sustainable, and inclusive cities.
Experts associated with the programme underscored the opportunity for India to lead the next global manufacturing revolution, especially as global supply chains pivot towards resilience and regional balance. The vision behind MaXcel is to equip founders not just with capital, but with the ecosystem support required to scale responsibly and competitively. Industry mentors, technology experts, and successful entrepreneurs will provide hands-on guidance to help startups navigate the operational, regulatory, and go-to-market complexities of scaling hardware-led businesses. To deepen its outreach and engage with regional innovation ecosystems, a multi-city roadshow has been planned across major Indian startup and manufacturing hubs. Cities including Bengaluru, Pune, Ahmedabad, Indore, Guwahati, Coimbatore, Kochi, and Noida will host sessions aimed at scouting talent, showcasing startup journeys, and fostering connections between industrial enterprises and emerging ventures.
The timing of the launch is significant. India’s MSMEs account for nearly 30% of the country’s GDP and employ over 110 million people. However, many remain undercapitalised, under-digitised, and underrepresented in the technology ecosystem. With India aiming to become a USD 5 trillion economy and a global manufacturing hub, platforms like MaXcel could serve as strategic levers to bridge the funding and innovation gap, particularly in environmentally conscious, gender-neutral, and decentralised urban and peri-urban clusters. Officials behind the initiative noted that traditional accelerators in India have mostly catered to software startups, while the hardware and industrial space often face longer gestation cycles and steeper capital requirements. By offering patient capital, domain-specific mentoring, and corporate engagement, MaXcel aims to de-risk early-stage industrial innovation and make it viable for venture funding.
The programme also prioritises sustainability and green innovation. Startups working on low-emission manufacturing processes, energy-efficient machinery, recyclable materials, and carbon-neutral industrial operations will find a strong alignment with MaXcel’s long-term vision. In this way, the accelerator not only supports economic growth but also reinforces India’s commitment to environmental stewardship and sustainable development goals. Applications for the MaXcel programme are now open, with a deadline of 10 May 2025. Shortlisted applicants will be evaluated based on the strength of their prototypes, clarity of business model, and potential for scalable impact. The selected cohort is expected to begin by mid-year, with the first demo day scheduled to take place offshore, giving startups a global platform to showcase their progress. MaXcel’s launch also comes at a time when Indian policy is pushing for greater localisation, deeper R&D in semiconductors, and enhanced support for innovation in Tier-II and Tier-III cities. As such, the accelerator could become an important vehicle for regional economic diversification and skilled employment creation.
In a sector long seen as complex and capital-intensive, the launch of MaXcel offers a glimmer of hope. It signals that India is ready to bet on its industrial entrepreneurs—those building for the real economy—and that innovation is no longer confined to the cloud, but equally alive on the factory floor.
MaXcel Accelerator Launched to Drive Sustainable Innovation in Indian Manufacturing
