Bharat Inclusion Initiative

Check the fit first

• The programme is for startups building technology solutions in fintech, skilling and livelihoods, aimed at lower-income segments of India.
• Your customers or beneficiaries must include lower-income segments, at least in part.
• Prototype, MVP and early-traction teams are preferred. Idea-stage and post-MVP teams are also described as in scope.
• You need not be a registered firm to apply, but you must be an entity registered in India before selection is confirmed.

How applications work

• Apply through the form linked from the programme's Apply Now button. Applications are reviewed on a rolling basis.
• Expect an update within one month of applying.
• If you have had support from another accelerator, say so in your application. The programme says it is open to considering those applications.

How selection works

• Applications are reviewed for fit with the programme's objectives, judged on criteria such as innovation, potential for impact and team strength.
• Expect 2-3 rounds of pitching and feedback sessions.

What to be ready for

• Milestones are agreed with IIMA Ventures, and funds are released in tranches against them.
• A utilisation certificate may be required before a later tranche.
• A mentoring equity stake of 3-5% is expected.
• Regular check-ins run for up to a year, and you must take part in the programme's impact measurement study.
• You do not need to relocate to Ahmedabad for the programme.

Bharat Inclusion Initiative (BII) is a support programme run by IIMA Ventures, a startup incubator established by IIM Ahmedabad. It backs technology startups that want to reach lower-income customers in India. The programme is based in Ahmedabad, Gujarat, at IIM Ahmedabad's New Campus in Vastrapur, but founders do not have to move to the city to take part.

What it supports

BII's current focus is financial inclusion, jobs and livelihood, and skilling. The programme is looking for scalable innovations that can serve lower-income segments such as nano-entrepreneurs, low-income and gig workers, women and migrants. Startups need customers or beneficiaries from lower-income segments, at least in part. Solutions at the prototype, MVP and early-traction stages are preferred, and the programme also says it supports startups from idea to post-MVP stages.

You do not need to be a registered company to apply. You do need to be an entity registered in India before selection can be confirmed.

How the support works

Support is bespoke. IIMA Ventures agrees a set of milestones with each startup, and the startup works toward them with the programme's help. Training, mentoring, technical assistance and market access are provided as needed. Financial support is paid in tranches against the milestones and the funds required, under a service agreement. Recipients may have to provide a utilisation certificate before a later tranche. Regular check-ins run for up to a year.

The programme also organises corporate connects and investor demo days, and it helps with one-to-one investor conversations case by case. Startups get showcase opportunities at corporate meetups, demo days and partner events, along with cloud credits and offers from essential service partners.

Equity

BII takes equity. Startups are onboarded as incubatees, and a mentoring equity of 3-5% is expected. The programme says it will try to provide extra funding through grants or convertible debt via its other programmes, but selection does not guarantee it.

Office Hours

Founders can also book Office Hours, one-to-one mentoring sessions with mentors from the IIMA Ventures core team and its expert network. Mentors are chosen by theme. Past sessions covered digital lending, payments, ERP, agri-finance, personal finance, GST services and team building.

Earlier editions

A previous edition of the initiative describes activities that the current programme does not list: a Financial Inclusion Lab that ran six cohorts over 4 years, a Bharat Inclusion Seed Fund that reported 8 investments, and a Bharat Inclusion Champions programme for idea-stage individuals and teams. It also reports 16 Sprints held across 9 cities for more than 400 participants. Those counts are undated and describe earlier work, so check with the programme before assuming any of these is open.

Who runs it

IIMA Ventures describes itself as a startup incubator established by IIM Ahmedabad. The current programme names the Bill & Melinda Gates Foundation and the Michael & Susan Dell Foundation as its supporters. The previous edition named a longer list that also included J.P. Morgan, MetLife Foundation and Omidyar Network, so the supporter list is not settled.