In a bold move to fast-track industrial innovation in India, Capital-A and SanchiConnect have launched the MaXcel accelerator program tailored for early-stage startups and MSMEs in the manufacturing sector. Announced in April 2025, this strategic alliance blends Capital-A’s investment prowess with SanchiConnect’s ecosystem access to deliver an industry-first initiative targeting precision manufacturing, robotics, IoT, and smart factories. The program is set to offer a fast-track capital infusion between Rs 3 crore and Rs 4 crore, with committed term sheets within 30 days. Over a span of 24 weeks, selected startups will benefit from a market-focused curriculum, corporate pilot connections, global demo opportunities, and personalised mentorship. This unique platform is not only an accelerator but a well-calibrated launchpad designed to empower startups working on minimum viable products (MVPs), pilots, or early-stage revenue models. Applications are open until May 10, 2025, and roadshows will be held across key innovation hubs in India.
1. The Working Model of MaXcel Accelerator
MaXcel is designed with a clear purpose: catalysing growth in India’s deeptech and manufacturing landscape. Through this accelerator, Capital-A and SanchiConnect are bridging the gap between startup potential and market readiness. Their model is simple yet powerful—select promising manufacturing startups and MSMEs and equip them with capital, knowledge, mentorship, and corporate exposure.
Under the 24-week program, selected startups will first undergo a 12-week Go-To-Market module. During this phase, founders will gain access to corporate pilot opportunities and structured mentoring. Following this, the program facilitates a global platform where startups can showcase their innovations at an international demo day.
Capital-A will invest Rs 3 crore to Rs 4 crore per startup, with a term sheet commitment made within just 30 days of selection. This fast-track funding approach significantly reduces the capital lag that early-stage founders often face.
2. Founders Behind the Initiative
2.1 Capital-A and Ankit Kedia
Capital-A, founded by Ankit Kedia, is a prominent early-stage venture capital firm focused on B2B businesses in India. Ankit, a serial entrepreneur and former promoter of Manjushree Technopack, brings years of manufacturing experience to the table. With deep roots in industrial growth and investment trends, Ankit is leading Capital-A to shape the startup ecosystem with strategic investments.
2.2 SanchiConnect and Dr. Sunil Shekhawat
SanchiConnect, co-founded by Dr. Sunil Shekhawat, operates as a specialised platform supporting deeptech and hardware startups. Dr. Shekhawat brings academic expertise and practical ecosystem knowledge, focusing on bridging early-stage innovation and industry execution. SanchiConnect has already built a strong network within India’s tech and manufacturing sectors.
3. What Startups Will Receive
Startups selected for MaXcel will receive a comprehensive package that goes far beyond funding. Over the 24-week duration, they will:
- Gain fast-track capital up to Rs 4 crore.
- Access tailored mentoring from industry veterans.
- Participate in a 12-week Go-To-Market module.
- Explore pilot opportunities with large corporates.
- Pitch at a global demo day.
These offerings aim to help startups working in high-tech fields like semiconductors, robotics, smart factories, advanced materials, and industrial automation. The program is open to those with MVPs or early revenue streams, reflecting a market-ready mindset.
4. Background and Vision Behind MaXcel
The idea for MaXcel came from a realisation—India’s manufacturing innovation often struggles to find structured support. While India has seen a rise in SaaS and fintech accelerators, hardware and deeptech have lacked ecosystem-level interventions.
Capital-A and SanchiConnect wanted to change that. Both organisations saw a gap where founders with brilliant hardware ideas had nowhere to go post-MVP. By teaming up, they’re building a blueprint for manufacturing-led innovation that the country desperately needs.
Their goal is clear: to make MaXcel not just an accelerator, but an industrial revolution catalyst for India.
5. Target Sectors Under the Accelerator
MaXcel is sharply focused on startups within the following categories:
- Smart factory technologies
- IoT-enabled manufacturing
- Frugal industrial automation
- Robotics and embedded systems
- Semiconductor innovation
- Precision engineering
- Advanced materials
- Hardware-software integration
This sectoral focus is strategic, targeting future growth areas aligned with India’s ambitions of becoming a global manufacturing hub.
6. Roadshows and Outreach Strategy
To ensure nationwide participation, MaXcel will organise a multi-city roadshow across India. The outreach will cover major innovation hubs such as:
- Bengaluru
- Pune
- Ahmedabad
- Indore
- Guwahati
- Coimbatore
- Kochi
- Noida
These roadshows will create visibility, attract applications, and connect ecosystem players to the MaXcel initiative. Startups have until May 10, 2025, to submit their applications.
7. Industry Insights and Funding Context
Venture capital in India has shifted significantly towards deeptech and manufacturing-led ideas. As of 2024, India’s manufacturing sector contributes about 17% to the GDP and is projected to grow faster under the PLI (Production Linked Incentive) schemes.
However, despite favourable policy tailwinds, early-stage startups still find it difficult to access capital and mentorship tailored to industrial needs. That’s where MaXcel steps in. It offers much-needed infrastructure—both financial and strategic—for manufacturing startups to thrive.
The Rs 3-4 crore funding range is especially impactful given how hardware startups face high upfront costs and long gestation periods. The rapid term sheet timelines are another game-changer, removing the red tape founders usually face.
8. SanchiConnect unveil MaXcel: A Strategic Leap
SanchiConnect unveil MaXcel at a time when India needs innovation on its factory floors more than ever. With the fourth industrial revolution accelerating globally, the nation’s deeptech space must catch up fast. This accelerator bridges that gap, providing capital, coaching, and access all at once.
The decision to focus on MVP-stage startups helps in filtering companies with execution capabilities. It also aligns with market validation frameworks often missing in hardware ventures.
Capital-A and SanchiConnect bring complementary strengths—one knows how to fund, the other knows how to build ecosystems. Together, they’re creating India’s first manufacturing-first accelerator that thinks beyond capital.
9. Learning for Startups and Entrepreneurs
9.1 Importance of Sector-Specific Accelerators
Generic accelerators often fall short for niche sectors like manufacturing. MaXcel is a blueprint for how startup support must evolve—specialised, sector-sensitive, and founder-focused.
9.2 Speed in Funding Is a Game-Changer
The promise of a term sheet within 30 days provides startups with speed and certainty—two things critical for hardware businesses that rely on capital to scale prototypes.
9.3 Go-To-Market Focus Wins
Instead of theoretical modules, MaXcel offers hands-on corporate exposure. Startups don’t just learn—they implement, test, and iterate in real environments.
9.4 Partnerships Are the Future
Capital-A’s venture capital strength and SanchiConnect’s ecosystem depth show how partnerships can build powerful startup platforms. Collaboration is no longer optional—it’s essential.
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