Bharat Inclusion Initiative by IIMA Ventures

The Bharat Inclusion Initiative (BII) by IIMA Ventures is a long-standing program dedicated to empowering for-profit technology startups. Its core mission is to extend the advantages of technology to India's underserved populations, including nano-entrepreneurs, individuals with low incomes, gig workers, women, and migrants. This phase of the initiative benefits from the support of the Bill & Melinda Gates Foundation and the Michael & Susan Dell Foundation.

Selected startups receive financial assistance of USD 50,000 or more, which translates to approximately ₹45 lakh and above. This funding is distributed in tranches, contingent on the successful completion of predetermined milestones detailed in a Service Agreement between the startup and IIMA Ventures. Startups are required to submit utilization certificates for each funding tranche. In exchange for this support, IIMA Ventures acquires a mentoring equity stake of 3–5% as the startup joins the incubation program. Therefore, this is structured as incubation funding rather than a purely non-dilutive grant.

Beyond financial capital, BII provides extensive contextual support. This includes access to domain specialists in fintech, financial inclusion, gig livelihoods, and skilling. Startups also gain market entry through collaborative partnerships for product development, pilot projects, and scaling efforts. The initiative boosts visibility through corporate meetups, demo days, and partner events, alongside structured assistance for fundraising, from preparing pitches to closing deals. Additional advantages include cloud credits and various perks from partners.

BII concentrates on three main areas:

• Fintech: Solutions for enhancing income through credit, building financial resilience (such as insurance, savings, and money management), rural payment systems, grievance resolution, and foundational Digital Public Infrastructure (DPI) elements like ONDC, Account Aggregator, OCEN, and the Unified Lending Interface.
• Livelihoods and Skilling: Platforms that integrate skilling with employment opportunities, enablers for the gig economy in smaller urban centers, DPI applications leveraging ONDC/ONEST, AI-powered workforce reskilling, and capacity-building solutions for micro-entrepreneurs.
• Inclusion at Scale: A mandatory requirement is that a significant portion of the startup's clientele or beneficiaries must come from lower-income groups, typically defined as those earning less than ₹50,000 per month.

The engagement typically spans up to one year, involving regular progress check-ins. An appointed impact measurement agency monitors outcomes throughout the program's duration, which extends until 2028. While not guaranteed, selected startups may also be considered for further grants, convertible debt, and introductions to investors through IIMA Ventures' broader programs.

• Receive over ₹45 lakh in financial support.
• Funding is milestone-linked and disbursed in tranches.
• IIMA Ventures acquires a 3–5% mentoring equity stake.
• Focus on fintech, livelihoods, and skilling for low-income India.
• Supported by Bill & Melinda Gates and Michael & Susan Dell Foundations.
• Applications are accepted on a rolling basis, decisions within one month.

The Bharat Inclusion Initiative targets technology startups developing solutions in fintech, livelihoods, or skilling sectors. Applicants must specifically aim to serve low-income segments across India, with a significant portion of their customers or beneficiaries typically earning less than ₹50,000 per month.

While pre-incorporation ideas are considered, preference is given to startups that have reached the prototype, Minimum Viable Product (MVP), or early-traction stages. Applicants are not required to be a registered firm at the time of application, but must complete their registration in India before final selection.

The initiative is open to startups nationwide, and there is no requirement to relocate to Ahmedabad. Startups that have previously participated in other accelerator programs are also eligible, provided they disclose this information in their application.

Participants in the program receive access to experts in fintech, Digital Public Infrastructure (DPI), regulatory affairs, and various inclusion domains. They gain from partnerships designed for product development, pilot projects, and scaling operations, alongside enhanced visibility through corporate meetups, investor demo days, and partner showcases.

The program provides comprehensive fundraising support, ranging from pitch preparation to deal closure. Additional benefits include cloud credits and other perks supplied by partners. Further assistance comprises one-on-one Office Hours mentoring and participation in Bharat Inclusion Sprints, which are intensive workshops featuring India Stack experts, researchers, and founders.

Applications first undergo an initial review to confirm their alignment with the program's objectives. Following this, they are assessed based on their innovation, potential for impact, and the strength of the founding team.

Applicants should prepare to participate in 2–3 rounds of pitching and feedback sessions. Decisions are typically communicated within one month of submitting the application. Upon selection, startups will sign a Service Agreement with IIMA Ventures, which will detail the product, market opportunity, engagement goals, planned activities, and budgets.