IIMCIP partnered INVENT, a three-year long programme,funded by DFID, UK, in association with the Technology Development Board (TDB), Government of India. The INVENT program aimed to support social enterprises,with mentoring,capacity building and seed funding,working in the 8 low income states of UP, Rajasthan, Bihar, Jharkhand, West Bengal, Odhisha, Madhya Pradesh & Chhattisgarh to impact below the poverty line communities.
Started in 2017, the INVENT program was designed to create a platform to support for-profit businesses, which address one or more needs of people, based on technology or business model innovation, are scalable, and capable of raising further funding from other investors. Besides funding the support included intense mentoring, knowledge and access to capacity building programmes, support services, and relevant networks. The program ended in October, 2019 and under the programme, IIMCIP incubated 44 startups from over 200 applications received, disbursed a seed fund of Rs 7.98 Crores and the startups further raised external funding to the tune of Rs 62.50 Crores. 32% of the startups are from agriculture, 5% from Clean Energy, 18% from Education &Skills, 14% from Livelihood and 30% from healthcare.Over 500 direct jobs were created by these startups of which 78% were for males and 22% for females.