1. National Innovation Council
The India Inclusive Innovation
Fund
June 2013

2. Vision
• Innovation is needed to address India’s developmental challenges
– Healthcare, Nutrition, Education, Energy,Water, Livelihoods,
• Grant & Charity based funding is needed for the poorest of the
poor but is not scalable or self sustaining
• We need an inclusive innovation ecosystem which harnesses the
dynamism of enterprise to innovatively solve the problems of the
base of the economic pyramid in a scalable, sustainable way
• IIIF will leverage a proven concept that has worked for the affluent
& attract the brains in the world to apply it to solve the problems
of the poor, providing investors with models financial returns
coupled with measurable social returns
• It will also help create an inclusive innovation ecosystem by
creating / augmenting / partnering with mentoring networks,
incubators & by conducting skilling / training workshops for this
purpose

3. Objectives
• Drive inclusive growth by igniting innovative entrepreneurship that
addresses Bottom of the Pyramid needs
• Mobilise capacity to identify and scale innovative solutions that will
address problems of the disadvantaged
• Create an ecosystem of innovative solutions, business models and
approaches that reach beyond IPs/Patents
• Balance social and financial returns, simultaneously achieving social
good and economic sustainability
• Employment / livelihoods creation at the bottom of the pyramid
will be a key bias for the fund’s investments
• Mentor, develop skills, build capacity : create dedicated support
networks and education programmes for socially focused entrepreneurs
• Pool innovators and entrepreneurs focused on the bottom of the
pyramid: partner with incubators, entrepreneurship cells, angel networks,
VC Funds, etc.

4. Identifying Entrepreneurs /Ventures
4
Online Offline Others
Technology Platform (IIIF) CSIR, DRDO, NINC, etc Events
Techpedia Foundations - Gates, Dell, Wipro,
CSF
Conferences & Forums
Angel List Incubators (IAN, unLTD, 500
Startups, Villgro, IIM-A, RTBI, etc)
Business Networks
Honey Bee Network Angel Investors (IAN, Other Angel
groups, Dasra, Ennovent, SELCO, etc)
Publications
Social Media (Facebook,
LinkedIn, Twitter, Quora)
Venture Funds (Omidyar Network,
Acumen, Matrix, Aavishkar, Unitus,
Lok Capital, Khosla Impact Fund),
SIDBI, etc.
Competitions (Mahindra
Rise, Power of Ideas,
Tata Social Enterprise
Challenge, etc.)
Your Story, Plugged In,
Head Start, VC Circle
TiE, NEN, NASE, Action for India,
BYST, Stanford Biodesign, HBS, etc.
IFC, World Bank, UNIDO,
FICCI - USAID Millennium
Alliance

5. Structural / Management Aspects
• SEBI registered Category I AIF – first close Rs. 500 crores, maximum Rs.
5,000 crores
• GoI investment 20%, balance from Public / Private institutions, domestic and
overseas
• Fund life : 9 years extendable by up to 2 years
• Target gross IRR of 12% before taxation and management charges
• Trustee would be IDBITrusteeship Services,AMC Section 25 not for profit
company
• Fund would be professionally managed by successful serial entrepreneurs
and experienced fund managers, aligned with fund thesis
• Investment committee will comprise successful professionals with
background of entrepreneurship, investment, domain knowledge, top
management experience
• Governing Council of eminent individuals with experience across public /
private sector in entrepreneurship, management, finance,investment, etc. will
have oversight and ensure that investmentsare in accordance with the thesis

6. Status & Next Steps
• Commitments of Rs. 475 crores received
(including GoI Rs. 100 crores)
• Pipeline of over 300 target investments
• EFC screening over
• SEBI registration would be obtained post cabinet
approval
• Chairman NINC to take necessary steps for
creation & operation of the Fund, in collaboration
with PMO and Planning Commission

7. National Innovation Council
Thank You