ACIC-VGU Foundation
ACIC-VGU Foundation, founded in 2021 and headquartered in Jaipur, Rajasthan, is a venture capital and private equity firm focused on pre-incubation support for innovators, particularly from tier 2 and tier 3 cities in Rajasthan.
Overview
ACIC-VGU Foundation is a small venture capital and private equity firm established in 2021. With a team size of 21, the foundation operates from its headquarters in Jaipur, Rajasthan. It positions itself as a solution for pre-incubation needs, focusing on reducing the gap between laboratory innovations and practical applications in the market.
Mission and Goals
The foundation aims to create a formal approach to identify and scale innovations from tier 2 and tier 3 cities in Rajasthan. It seeks to foster a vibrant startup and innovation ecosystem in the region, with a specific focus on supporting innovators at the bottom of the pyramid. The foundation's mission includes the aspiration to develop upcoming Unicorns from Rajasthan.
Support and Funding
ACIC-VGU Foundation has raised a total of INR 7,31,90,000 in funds to support the startups within its network. The foundation provides pre-incubation support that includes access to state-of-the-art labs, equipment, mentorship, and funding opportunities. This support is designed to empower innovators and facilitate the growth of their ideas.
Focus Areas
The foundation concentrates on various sectors, including art, design, handicrafts, fashion, lifestyle, and agriculture. By targeting these industries, ACIC-VGU Foundation aims to harness the creative potential of innovators and provide them with equitable opportunities to succeed.
Partnerships
ACIC-VGU Foundation is supported by the Atal Innovation Mission (AIM) and Niti Aayog. These partnerships enhance the foundation's capability to provide resources and support to the innovators it serves, further solidifying its role in the startup ecosystem of Rajasthan.