The Indian automobile industry is one of the fastest growing industries in that sector. It is going to reach great heights with the speed it is growing with. The numbers are also brilliant as India produced almost 4.5 million units in 2016 annually. It is currently the fifth largest automobile manufacturer in the world and the numbers are bound to increase rather than go down. The future in the automobile industry in India is bright as a sun.
In that case, Maruti Suzuki, India’s largest car manufacturer and one of the most successful car-maker is coming out with an initiative. Looking at the current scene of the automobile industry, the traditional Indian company is going to find innovations from people all around the country. The company has finally announced Mobility and Automobile Innovation Lab (MAIL) for Indian startups. It is looking for Indian startups with original ideas that can transform the automobile industry in India in any way possible.
The company released a statement that explained the existence of MAIL. This program is there to give the youngsters and ideas platforms to help their dreams catch wings amongst this ruthless world. It will also test the up and coming talents for their entrepreneurial skills. The company is looking for ‘cutting edge solutions through innovation’. It is mostly looking at startups at a national level so that no one is left out.
The company statement read, “MAIL is an initiative by Maruti Suzuki to identify innovative and cutting edge solutions through startups, which are futuristic and customer oriented. The program will provide a platform to the budding talent in India to showcase their entrepreneurial capabilities at a national level.”
The startups are supposed to enter with their ideas and they will be judged on the basis of their innovation, their execution ideas, and their entrepreneurial brain. The ideas will then be shortlisted and will be funded by Maruti Suzuki to turn them into reality.
However, Maruti Suzuki is not doing this entirely alone as it has roped in GHV Accelerator which is a seed fund just for early-stage startups. It is purely based on accelerating program which helps startups get a head start if their ideas are good enough.
The Indian-Japanese company will look for new age ideas and will be looking for exploiting the ideologies on the lines of Connected Cars, Autonomous Cars, Shared Mobility, Electric Vehicles and many more.
The company is looking to go into Automotive Artificial Intelligence. The market is going to rise through the roof from $782.9 million in 2017 to an unbelievable $10.5 billion by 2025. The CAGR of 38.46% from 2017 to 2025 is also something Maruti Suzuki looked at and it is now looking for ideas through startups which is the best way to do it.