IIM Ahmedabad Launches Bharat Inclusive Initiative
- Bharat Inclusive initiative will focus on innovation and build entrepreneurial activity in sectors such as finance, healthcare, education, and livelihood.
- IIM Ahmedabad's CIIE will also invest in seed and pre-series A funding of startups.
Indian Institute of Management (IIM) Ahmedabad’s Centre for Innovation, Incubation, and Entrepreneurship(CIIE)has starteda Bharat Inclusion Initiative.This initiative will focus on innovation and buildentrepreneurial activityin sectors such as finance, healthcare, education, and livelihood.
The main aim of theCIIEBharat Inclusion Initiativeis to channelize $25 million in a span of three-four years, primarily towards startups with valuable ideas and business models, leveraging the ongoing digital transformation in India among others.
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As per the reports,CIIEhas received an initial grant of $12.5 million from the Bill & Melinda Gates Foundation, Omidyar Network and Michael & Susan Dell Foundation and help from Tata Trusts. Around $5 million from this will be used to supportstartupsin conducting research, piloting partnerships, workshops etc.
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Apart from this,CIIEwill also invest in seed and pre-series A funding of startups with the help of Bharat Inclusion Seed Fund which is expected to make a final close at $15 million by July. CIIE atIIM Ahmedabadprovides entrepreneurs with a platform to turn their idea into viable businesses.
Neharika Vohra, Chairperson of theCIIE initiativesaid that the initial aim is to provide solutions and technical help to entrepreneurs. According to her, empowering the entire country and motivating them to participate in the economy is the main goal and entrepreneurship is one of the powerful tools to achieve the same.