The recently launched Bharat Young Entrepreneurs Fund (YEF), a $10 million initiative spearheaded by Founding Visionary Harshavardhan Chauhaan, is channeling its resources towards fostering innovation specifically in Agritech, Deep Tech, and Climate Tech across India.
In an interview with CNBC-TV18, Chauhaan emphasised that the fund aims to support innovators, particularly those in tier 2 and tier 3 regions, who often struggle to access traditional venture capital. The fund seeks to identify and nurture ideas that can contribute significantly to India’s future.
Departing from conventional equity-based funding, Bharat YEF offers grants ranging from $10,000 to $250,000 for early-stage, pre-revenue concepts. This approach prioritises potential societal impact and scalability, focusing on the idea itself rather than demanding immediate business metrics. The goal is to provide crucial initial support without taking equity, allowing founders to retain full ownership as they develop their ventures.
A key component of the initiative is the Bharat Fellowships program, envisioned as a unique support system. Chauhaan described the fund’s platform as “India’s own Y-Combinator,” facilitating mentorship through these fellowships. Talented students from premier institutions like IITs and IIMs engage in internships lasting three to twelve months, providing guidance and support to grassroots innovators directly through the YEF platform, leveraging technology for seamless interaction.
To ensure broad participation and discovery of ideas, Bharat YEF has launched bharatyef.com. Chauhaan highlighted the platform’s democratic approach to identifying promising ventures. Innovators, termed ‘Bharat Karmyogis’ can submit their ideas, including short video pitches. The public can then show support through a gamified crowdfunding mechanism, indicating collective interest in specific projects without actual monetary investment. “I believe it’s not just a few individuals who should decide which idea is the best,” Chauhaan stated, underlining the fund’s commitment to a more inclusive selection process.
The fund’s investment philosophy is explicitly aligned with India’s long-term goals, particularly the vision for a developed nation by 2047. “We’re not investing for an exit cycle in the next five or ten years, we’re looking at a vision for Viksit Bharat 2047,” Chauhaan explained. This long-term perspective shapes the fund’s focus on nurturing national intellectual property and technologies with lasting impact.
Bharat YEF is also strengthened by the backing of experienced industry professionals. Chauhaan mentioned that corporate stalwarts, such as Devendra Chawla, CEO of GreenCell Mobility, are among the early supporters. These backers provide not only capital but also invaluable mentorship and intellectual guidance, offering more than just financial resources to the burgeoning entrepreneurs supported by the fund.
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