Bharat Inclusion Initiative by IIMA Ventures

• USD 50,000+ per startup (approx. Rs. 45 lakh+)
• Tranched, milestone-based disbursement
• Backed by Gates Foundation and Dell Foundation
• Fintech, livelihoods and skilling focus
• 3, 5% mentoring equity (not equity-free)

About this scheme

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

Each selected startup receives **USD 50,000 or more** (approx. Rs. 45 lakh and above) in financial support, disbursed in tranches tied to milestones agreed in a Service Agreement signed between the startup and IIMA Ventures. Utilization certificates are required against each tranche. In return, IIMA Ventures takes a **mentoring equity of 3, 5%** as the startup is onboarded as an incubatee , so this is structured incubation funding, not a pure non-dilutive grant.

Beyond the capital, BII layers in contextual support: domain experts from fintech, financial inclusion, gig livelihoods and skilling; market access via partnerships for product development, pilots and scale-up; visibility through corporate meetups, demo days and partner events; structured fund-raising support from pitch readiness to deal closure; and cloud credits and other partner-led perks.

BII focuses on three pillars: (1) **Fintech** , credit for income enhancement, financial resilience (insurance, savings, money management), rural payments and grievance management, and DPI building blocks like ONDC, Account Aggregator, OCEN and the Unified Lending Interface; (2) **Livelihoods and skilling** , integrated skilling and job platforms, gig-economy enablers in smaller cities, ONDC/ONEST-led DPI plays, AI-driven workforce reskilling, and micro-entrepreneur capacity solutions; (3) **Inclusion at scale** , at least a part of customers/beneficiaries must come from lower-income segments (typically earning under Rs. 50,000/month).

The engagement runs with regular check-ins for up to a year, with the empanelled impact measurement agency tracking outcomes over the program duration (up to 2028). Selected startups may also be considered for follow-on grants, convertible debt and investor introductions through IIMA Ventures' broader programs, though additional funding is not guaranteed.

Who can apply

• Startups building technology solutions in fintech, livelihoods or skilling for low-income Indian segments
• Prototype, MVP and early-traction stages preferred; exceptional pre-incorporation ideas also considered
• A portion of customers/beneficiaries must come from lower-income segments (typically earning under Rs. 50,000/month)
• Need not be a registered firm to apply, but must be registered in India before selection is confirmed
• Open nationwide; relocation to Ahmedabad not required
• Prior accelerator participation is allowed (must be disclosed)

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

Benefits & funding

• Access to fintech, DPI, regulatory and inclusion-domain experts; partnerships for product development, pilots and scale-up; corporate meetups, investor demo days and partner showcases; pitch-to-close fund-raising support; cloud credits and partner perks; one-on-one Office Hours mentoring; Bharat Inclusion Sprints (deep-dive workshops with India Stack experts, researchers and founders).

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

   Applications are reviewed for alignment with program objectives, then evaluated on innovation, potential for impact and team strength.

2. 2

   Expect 2, 3 rounds of pitching and feedback.

3. 3

   Decisions are typically communicated within one month of applying.

4. 4

   Selected startups sign a Service Agreement with IIMA Ventures capturing product, market opportunity, engagement objectives, activities and budgets.

Documents checklist 5

• Founder & Team Details
• Product / Solution Overview
• Target Customer Segment & Inclusion Thesis
• Traction & Stage Evidence
• Indian Entity Registration (required before selection confirmation)

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

Frequently asked questions