CEAT Tyres Launches start-up competition ‘Excellerator’
by Shrutee K/DNS
CEAT invites applications for a start-up competition.
CEAT is supported by its outreach partner, 91springboard.
Competition is aimed at entrepreneurs and businesses offering innovative solutions for new age mobility businesses including connected vehicles, shared mobility services and fleet management/logistics services.
Applications will be open from 26th August 2019 to 30th September 2019 with Grand Finale to be hosted in November at RPG House, Worli, Mumbai
Winner(s) stand a chance to not only raise capital but also gain mentoring and operational support through CEAT.
New Delhi: CEAT announced the launch of ‘Excellerator’, a competition aimed at start-ups offering solutions for new age mobility businesses including connected vehicles, shared mobility services and fleet management/logistics services. The competition will identify entrepreneurs that are addressing large market opportunities in the above areas and that could have close synergies with CEAT’s business.
CEAT (part of the RPG Group) has increased its thrust on innovation to align itself with emerging trends in the mobility space. Through Excellerator, CEAT aims to identify and partner with upcoming start-ups to strengthen its positioning in such areas. The Company has already identified these areas (connected, shared and tech enabled fleet management) as having substantial potential and will be aiming to invest and develop strong partnerships with such businesses.
Applicants interested in participating can mail their applications to excellerator@rpg.in. Applications must include a brief outline of the proposition/solution the start-up offers, the market opportunity they are going after and any possible business benefit for CEAT. The applications will be open from 26th August 2019 to 30th September 2019. All applications will be evaluated and shortlisted by CEAT, with shortlisted entrepreneurs being invited to RPG House in Mumbai, to showcase their business ideas to a jury comprising of CEAT’s senior management.
The grand finale will be held in November. The winning start-up(s) may get a chance to raise funds from CEAT and gain access to CEAT’s business network across India to enhance its reach. The winners would also get mentoring and guidance from CEAT’s experienced management.
Speaking about the competition, Anant Goenka MD, CEAT Ltd, said, "We are delighted to announce the launch of CEAT’s start-up competition Excellerator. We are looking forward to bringing on board entrepreneurs who can provide viable solutions for our business needs. Along with the winners, we will work together towards achieving our common goals for the future of the automobile industry."
CEAT has already invested in Tyresnmore, an online tyre retailer and doorstep fitment provider, and more recently invested in E fleet systems - an ERP platform for fleet operators.
About CEAT Ltd (www.ceat.com):CEAT, the flagship company of RPG Enterprises, was established in 1958. Today, CEAT is one of India’s leading tyre manufacturers and has strong presence in global markets. CEAT produces over 15 million tyres a year and offers the widest range of tyres to all segments and manufactures world-class radials for: heavy-duty trucks and buses, light commercial vehicles, earthmovers, forklifts, tractors, trailers, cars, motorcycles and scooters as well as auto-rickshaws.
About RPG Enterprises (www.rpggroup.com):RPG Enterprises, established in 1979, is one of India’s fastest growing business groups with a turnover of US$ 4 Billion. The group has diverse business interests in the areas of Infrastructure, Tyres, Pharma, IT and Speciality as well as in emerging innovation-led technology businesses.
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