Bharat Inclusion Initiative by IIMA Ventures
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Quick Answer
₹46.5 lakh+ tranched grant capital plus incubation for fintech, livelihoods and skilling startups serving low-income India.
- Funding amount
- From ₹45 Lakhs
- Funding type
- Equity
- Provider
- IIMA Ventures
- Application deadline
- Rolling
- Location
- Open to startups registered in India
About this funding program
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 ₹46.5 lakh or more 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 ₹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.
Eligibility
See if you're eligible
Full eligibility criteria — entity type, stage, sector, founder profile and registration requirements — plus your fit for this program. Sign up to view.
Funding providers
IIMA Ventures is the startup incubator of the Indian Institute of Management Ahmedabad (IIM Ahmedabad). It was known as IIMA-CIIE, and publicly as CIIE.CO, until it rebranded to IIMA Ventures in 2024. CIIE stands for the Centre for Innovation Incubation and Entrepreneurship, the…
Learn moreBenefits & Funding
- Amount
- From ₹45 Lakhs
What You Get
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).
- Disbursement
- Milestone Based
Timelines & Process
Applications
Rolling basis
Selection Process
Applications are reviewed for alignment with program objectives, then evaluated on innovation, potential for impact and team strength. Expect 2–3 rounds of pitching and feedback. Decisions are typically communicated within one month of applying. Selected startups sign a Service Agreement with IIMA Ventures capturing product, market opportunity, engagement objectives, activities and budgets.
Application Process
- 1
Submit Application
Apply through the IIMA Ventures website form with founder details, product, target segment and traction.
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How to apply
Four steps from draft to disbursement — one action each.
- 1
Draft your application
Answer the form inside the grant tracker — AI drafts each response using your past answers, so you're not starting from a blank page.
- 2
See the questions before you start
Download every question this programme's application form asks, so you can prepare your answers offline before opening the portal.
- 3
Line up your documents
Keep every document from the checklist ready in one folder. Missing docs are the #1 reason applications get bounced.
- 4
Submit on the official portal
Use the official application link and verify all details before final submission.
- 5
Follow up
Reach out 5–7 days after submitting to confirm receipt and ask about the review timeline.
Frequently Asked Questions
How much funding does Bharat Inclusion Initiative offer?
₹46.5 lakh or more per supported startup, disbursed in tranches tied to milestones agreed in a Service Agreement.
Does IIMA Ventures take equity?
Yes. Selected startups are onboarded as incubatees with a mentoring equity of 3-5%.
What stages are eligible?
Prototype, MVP and early-traction startups are preferred. Exceptional individuals starting off with promising ideas on financial inclusion can also connect to explore support.
Do I need a registered company to apply?
No, you can apply pre-incorporation. However, you must be registered as an entity in India before selection is confirmed.
Do I have to move to Ahmedabad?
No. The program does not require relocation. Short-duration bootcamps or events may be organised in Ahmedabad or elsewhere.
Are rolling applications accepted?
Yes. Applications are evaluated on a rolling basis. You can expect a decision within one month of applying.
Can previously accelerated startups apply?
Yes. Disclose the support received from previous programs in your application.
Does selection guarantee follow-on funding?
No. BII may provide additional support via grants or convertible debt through IIMA Ventures' other programs, and facilitate investor introductions, but follow-on funding is not guaranteed.
Sources
Data on this page is compiled from official program and provider references.
