The Automotive Component Manufacturers Association of India (ACMA), in collaboration with PwC India, launched the Start-up Initiative to bridge the innovation gap between established auto-component players and agile technology start-ups. Now in its third year, the program has evolved into a structured platform for co-creation, investment, and technology scouting.
Year 3 features a diverse cohort of 16 member companies, divided into two engagement tracks:
- Option 1 (10 companies): Group-based interactions (e.g., JBM Group, Subros, Sandhar Technologies, Sona Comstar)
- Option 2 (6 companies): Individualized sessions (e.g., Sansera Engineering, Best Koki, Ki Mobility)
Workshop Agenda & Structure
The workshop was conducted in a hybrid format at the PwC Office, Novus Tower, Gurugram, and via Google Meet. The agenda emphasized interactivity, knowledge sharing, and strategic alignment.
Time | Session | Speakers |
|---|---|---|
2:00 PM – 2:10 PM | Opening Session & Welcome Note | Mr. Kiran Deshmukh (Chairperson), Mr. M.S. Shankar (Co-Chairperson), Mr. Kavan Mukhtyar (PwC) |
2:10 PM – 2:20 PM | Member Introductions | Representatives from all 16 ACMA member companies |
2:20 PM – 3:00 PM | Panel Discussion: Engaging with Start-ups; Capabilities Required to Win | Mr. F.R. Singhvi (Sansera), Mr. Srinath Ramamurthy (Ki Mobility), Mr. Kartikey Hariyani (Chargezone), Mr. Umesh Subramaniam (CamCom.ai), Moderated by PwC |
3:00 PM – 3:10 PM | Break | |
3:10 PM – 3:45 PM | Modes of Engagement & Due Diligence | Mr. Mihir Gada and Mr. Utsav Baidya (PwC Deals Team) |
3:45 PM – 4:00 PM | Start-up Evaluation Criteria & Portal Walkthrough | PwC Team and ACMA Team |
4:00 PM – 5:00 PM | Vote of Thanks & High Tea + Networking | ACMA & PwC Leadership |
Key Focus Areas for Year 3
The initiative prioritizes start-ups in the following innovation domains:
- E-Mobility: Motors, controllers, BMS, battery tech, EV charging
- Smart Manufacturing: Energy management, traceability, quality control, process automation
- Connected & Autonomous Technologies: Sensors, ADAS, algorithms, HMI
- Material Technology: Lightweighting, bio-composites, graphene
- Hydrogen & Emission Control
Top Priority Themes (Option 1 Companies)
- E-Mobility – Top priority for 8 out of 10 companies
- Smart Manufacturing – Energy management, traceability, quality control (7 of 10)
- Connected & Autonomous – Algorithms and sensors (8 of 10)
- Material Technology – Lightweighting and sustainable materials (4 of 10)
- Emission Control – Retrofit devices and alternate fuels (1 of 10)
Start-up Evaluation Framework
Start-ups are assessed using a weighted five-parameter model:
- Stage of Evolution (25%) – MVP/MMP maturity, funding stage, revenue growth
- Uniqueness & Impact (20%) – Innovation level, differentiation, scalability
- Solution-Market Fit (25%) – Customer traction, PoCs, OEM partnerships
- Founder & Team (15%) – Domain expertise, vision, awards
- Organizational Readiness (15%) – Hiring plans, business model flexibility
Eligibility Criteria: Start-ups must be under 10 years old, with turnover below INR 100 Crores, offering auto-specific, disruptive solutions.
Engagement Model
The program follows a hybrid engagement model across two tracks:
- Option 1: 2 online + 2 in-person group sessions
- Option 2: Individual online and in-person sessions
In-person events feature dedicated booths for start-up demonstrations, while online sessions include 60-minute interactions (20-min presentation + 40-min Q&A).
Digital Enablement: ACMA Start-up Portal
The ACMA Start-up Portal serves as a centralized platform for:
- Accessing start-up profiles and case studies from previous years
- Viewing workshop decks and knowledge resources
- Managing engagement stages: Screening → Interest → Final Collaboration
- Logging interactions and expressing interest via a dashboard system
Panel Discussion: Engaging with Start-ups
A dynamic panel featured leaders from:
- ACMA Members: Sansera Engineering, Ki Mobility (myTVS)
- Start-ups: Chargezone (EV charging), CamCom.ai (AI-powered visual inspection)
Topics discussed included co-innovation models, integration challenges, IP management, and scaling partnerships.
Due Diligence & Deal-Making Insights
PwC’s Deals team covered best practices for investing in start-ups, including:
- Financial & Tax Due Diligence – Quality of earnings, working capital, tax compliance
- Valuation Methods – DCF, market multiples, cost approach
- Regulatory & HR Assessments – ESOPs, founder background, compliance
- Negotiation Levers based on due diligence findings
PwC highlighted its deep experience in the start-up ecosystem, having advised on 54% of total investments in new-age tech companies raising over USD 20M in the last 3 years.
Program Calendar (Aug 2023 – May 2024)
Key milestones included:
- Aug–Sep 2023: 1:1 interactions and workshop
- Oct 2023: First online group interaction
- Dec 2023: In-person interaction
- Feb–Apr 2024: Second round of online and in-person sessions
- May 2024: Plenary closure event
Featured Start-ups (Preview)
The first online interaction (5th October 2023) featured global innovators such as:
- Ideas and Motion (Italy) – Traction inverter ECUs for 2–4 wheelers
- Carbon Waters (France) – Graphene-based thermal & corrosion solutions
- Inspekto (Israel) – AI-powered visual quality inspection
- Minespider (Germany) – Blockchain for supply chain traceability
Profiles were made available on the ACMA Start-up Portal prior to the event.
Conclusion
The ACMA Start-up Initiative – Year 3 is a strategic platform for accelerating innovation in the Indian automotive ecosystem. By connecting industry leaders with cutting-edge start-ups, the program drives technological advancement, co-innovation, and sustainable growth.
Facilitated by: PwC India
Next Steps: First online group interaction on 5th October 2023
Program Ends: May 2024
Confidential – Prepared by PwC for ACMA Members Only