Hero MotoCorp Launches 'Hero For Startups' Accelerator Program

Hero MotoCorp, a leading Indian two-wheeler manufacturer, has launched the "Hero For Startups" (HFS) initiative to support innovative startups and foster entrepreneurship in India. This program focuses on areas like mobility, sustainability, and technology, and provides startups with mentorship, funding opportunities, and access to Hero MotoCorp’s extensive network and resources. The initiative aligns with the company’s mission to drive innovation and build a dynamic ecosystem that contributes to India’s economic growth.

"Hero For Startups" Programme: Empowering the Future of Mobility

The Hero For Startups (HFS) program is aimed at identifying and supporting startups with innovative ideas that have the potential to revolutionize the automotive sector. Hero MotoCorp’s goal is to create an ecosystem that will advance disruptive technologies and promote scalable innovation in mobility solutions. This initiative is part of the company’s broader vision of “Being the Future of Mobility.”

Startups participating in the program will benefit from several advantages, including access to Hero MotoCorp’s Research and Development (R&D) facilities in India and Germany. They will also gain valuable insights from the company’s vast dealer and supplier networks. Furthermore, the program provides startups with mentorship and opportunities to develop paid Proofs of Concept (PoCs), which could eventually be integrated into Hero’s product lineup, giving these startups significant exposure and growth potential.

A Platform for Innovation and Growth

Through the Hero For Startups program, Hero MotoCorp aims to promote collaboration between startups and established companies in the automotive sector. By doing so, the program aims to drive technological advancements in the mobility industry while ensuring that the innovations are both sustainable and scalable. This collaboration will help shape the future of mobility in India and beyond.

Dr. Pawan Munjal, Executive Chairman of Hero MotoCorp, emphasized the importance of the initiative in shaping the future of mobility and advancing India’s position as a global leader in innovation. He stated, “Hero For Startups is our commitment to shaping the future of mobility and beyond through innovation, entrepreneurship, and collaboration.” He also highlighted the program’s alignment with the vision of India’s Atmanirbhar Bharat initiative, which focuses on empowering local industries to compete on the global stage.

Key Features of the "Hero For Startups" Program

• Access to R&D Facilities: Startups will be able to use Hero MotoCorp’s state-of-the-art R&D facilities in Germany and India to enhance their product development.

• Mentorship and Networking: Participants will receive guidance from industry experts and gain access to Hero’s network of dealers, suppliers, and other stakeholders in the automotive sector.

• Paid PoC Opportunities: Successful startups will have the chance to develop Proofs of Concept that could be integrated into Hero MotoCorp’s product lineup, providing them with market exposure and growth opportunities.

• Focus on Disruptive Technologies: The program is designed to support the development of disruptive technologies in mobility, sustainability, and related sectors.

Dr. Pawan Munjal’s Vision for Startups

Dr. Pawan Munjal, the Executive Chairman of Hero MotoCorp, expressed the company’s commitment to fostering innovation and entrepreneurship through the Hero For Startups program. He emphasized that the initiative not only aims to empower startups but also contributes to India’s goal of becoming a global leader in technological innovation. The program, he noted, will create opportunities for India’s entrepreneurs to solve real-world challenges and make a global impact.

Hero MotoCorp’s Sales Figures: December 2024

While the Hero For Startups initiative is gaining attention, Hero MotoCorp has also recently announced its sales figures for December 2024. The company reported a 17.53% decline in total sales, which amounted to approximately 3.25 lakh units, compared to 3.94 lakh units in the same month the previous year. Sales of motorcycles declined by 15.83%, and scooter sales saw a larger drop of 32.84%. However, Hero’s electric vehicle division, VIDA, recorded 46,662 retail sales during the same period, showing positive momentum in the electric mobility sector.

Hero MotoCorp’s Focus on Electric Mobility

Despite the overall decline in sales, Hero MotoCorp’s electric vehicle division, VIDA, has experienced growth, with a strong performance in December 2024. The VIDA division is expected to play a significant role in Hero’s future, aligning with the global shift toward electric mobility and supporting the company’s long-term goals of sustainability and innovation.