Bharat Inclusion Initiative by IIMA Ventures

• USD 50,000 or more per startup (roughly Rs. 45 lakh and up).
• Paid in tranches against milestones.
• Supported by the Gates Foundation and the Dell Foundation.
• Focused on fintech, livelihoods, and skilling.
• Carries a mentoring equity of 3% to 5%, so not equity-free.

About this scheme

The Bharat Inclusion Initiative (BII) is IIMA Ventures' long-running programme that backs for-profit startups bringing technology to India's underserved, among them nano-entrepreneurs, low-income and gig workers, women, and migrants. The current edition is supported by the Bill and Melinda Gates Foundation and the Michael and Susan Dell Foundation.

Each startup picked receives USD 50,000 or more (roughly Rs. 45 lakh and up) in funding, paid in tranches tied to milestones set out in a Service Agreement signed with IIMA Ventures, with a utilisation certificate due against every tranche. In exchange, the startup is taken on as an incubatee for a mentoring equity of 3% to 5%, so this is structured incubation funding rather than a purely non-dilutive grant.

On top of capital, BII adds context-specific support: domain specialists across fintech, financial inclusion, gig livelihoods, and skilling; market access through partnerships for product work, pilots, and scale-up; visibility via corporate meetups, demo days, and partner events; structured fundraising help from pitch readiness to deal close; and cloud credits and other partner perks.

BII works along three pillars. The first is fintech, covering credit for income growth, financial resilience through insurance, savings, and money management, rural payments and grievance handling, and DPI building blocks such as ONDC, Account Aggregator, OCEN, and the Unified Lending Interface. The second is livelihoods and skilling, taking in joined-up skilling and jobs platforms, gig-economy enablers in smaller cities, ONDC and ONEST-led DPI plays, AI-driven reskilling, and tools that build micro-entrepreneur capacity. The third is inclusion at scale, where at least some customers or beneficiaries must come from lower-income groups, typically earning under Rs. 50,000 a month.

The engagement runs with regular check-ins for up to a year, and an empanelled impact-measurement agency tracks outcomes over the programme's run (out to 2028). Startups taken on may later be considered for follow-on grants, convertible debt, and investor introductions through IIMA Ventures' wider programmes, though more funding is never guaranteed.

Who can apply

• The startup should be building technology for fintech, livelihoods, or skilling aimed at low-income Indian groups.
• Prototype, MVP, and early-traction stages are preferred, though standout pre-incorporation ideas may also be looked at.
• Some of the customers or beneficiaries need to come from lower-income groups, usually earning below Rs. 50,000 a month.
• A registered firm is not required to apply, but registration in India must be in place before selection is confirmed.
• Applications are welcome nationwide, with no need to move to Ahmedabad.
• Taking part in an earlier accelerator is allowed, as long as it is disclosed.

Eligible entity types: Private Limited, LLP, Partnership, Individual Innovator

Benefits & funding

• Capital of USD 50,000 and up for each startup (about Rs. 45 lakh upward), paid in milestone-linked tranches in exchange for a 3% to 5% mentoring equity.
• Hands-on guidance from experts across fintech, DPI, regulation, and financial inclusion, plus partnerships that open up product work, pilots, and scaling.
• Visibility through corporate meetups, demo days for investors, and partner showcases; fundraising help from pitch to close; perks like cloud credits; one-to-one Office Hours; and India Stack deep-dives at the Bharat Inclusion Sprints.

How the application process works

The journey below is informational, compiled from the official program guidelines. Applications are submitted directly with IIMA Ventures, in your own name.

1. 1

   Each application is first checked for fit with the programme's aims, then judged on innovation, the scale of likely impact, and the team.

2. 2

   Expect two to three rounds of pitching and feedback.

3. 3

   A decision usually lands within a month of applying.

4. 4

   Startups taken on sign a Service Agreement with IIMA Ventures setting out the product, market opportunity, engagement aims, activities, and budgets.

Documents checklist 5

• Founder and team details
• Product or solution overview
• Target customer segment and inclusion thesis
• Evidence of traction and stage
• Indian entity registration (needed before selection is confirmed)

Need help getting these in order? IncorpX provides assistance for incorporation, DPIIT recognition, MSME and GST registrations along with document preparation.

Frequently asked questions