INVENT , an acronym for Innovative Ventures and Technologies for Development, is a joint initiative of the
Technology Development Board (TDB), Government of India ,
Department for International Development (DFID),
Government of the United Kingdom and Villgro Foundation as the monitoring agency for the implementation of the program.
INVENT aims to make a positive social impact by providing incubation support
to technology-oriented start-ups whose offerings could benefit the Bottom of Pyramid of the society.
The INVENT addresses challenges and barriers across inclusive innovation lifecycle, for the benefit of up to 1 million poor people at the bottom of the economic pyramid. The incubation support is aimed at creating a viable pipeline for impact investments in the 8 low income states of India (Uttar Pradesh, Madhya Pradesh, Bihar, Chhattisgarh, Jharkhand, Rajasthan, Orissa and West Bengal).
- Social Venture with a sustainable business model.
- Impacting the Bottom of Pyramid demography.
- Innovative Technology.
- Scalable Business Model.
- Any start-up which has a plan to reach out markets of at least one of the 8 low income states viz. Uttar Pradesh, Madhya Pradesh, Bihar, Chhattisgarh, Jharkhand, Rajasthan, Orissa and West Bengal.
- Market Ready Stage or already having some customer traction.
- Incorporated as a private limited company (LLP/partnership firms are not eligible).
- Need to have a viable business plan.
- Milestone based Seed funding upto 30Lakhs INR
- On-campus as well as virtual incubation available
- Dedicated mentors with sector expertise
- Access to Lab facilities of IIT Kanpur
- Investor Connect for follow-up funding