Indian Institute of Management Ahmedabad’s (IIMA’s) centre for innovation, incubation and entrepreneurship (CIIE) has launched $25 million ‘Bharat Inclusion Initiative’ to fund start-ups. CIIE was founded at IIMA to support entrepreneurs and turn business ideas into viable businesses models. It partners with industry experts, mentors, corporates, IIMA community and investors to help incubate early-stage start-ups.
CIIE’s ‘Bharat Inclusion Seed Fund’ aims to provide continuum of solutions to inclusion focused tech entrepreneurs across the pre-incubation, seed and scale-up stage and help them jump to the next orbit. It will mentor and invest in start-ups in the early stage and seed segment over the next three-four years. The fund will look at start-ups in areas such as financial inclusion, livelihood, education, agriculture, and health. It has set aside $22.5 million to invest in pre-Series A technology start-ups. The initiative has received initial pledge of $12.5 million from Bill and Melinda Gates Foundation, Michael and Susan Dell Foundation and Omidyar Network.