India Inclusive Innovation Fund

The cabinet has approved the setting up of the India Inclusive Innovation Fund, proposed by the Ministry of MSME which will be guided by the following objectives:-

I.                    To focus on India’s Poor: IIIF would back enterprises developing innovative solutions primarily for citizens who lie in the lower half of India’s economic pyramid, with limited physical and institutional access to basic services.

II.                Balancing Social and Financial Returns: The IIIF will invest in such ventures, where modest financial returns are promised, even while creating significant social impact. Lack of capital is one of the major reasons why grassroots innovations at the village level or by micro and small enterprises have failed to take off. The IIIF seeks to address such lack of capital for innovators seeking to cater to the lower half of India’s economic pyramid.

III.             Employment Focus: The IIIF will seek to create and support entrepreneurs and enterprises that have a relatively high potential for job creation and can continue to scale and sustain themselves.

             Setting up of Trust with IDBI Trusteeship Services Ltd. is under process.

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