Mumbai/Bengaluru, India: Groww Foundation, the philanthropic arm of Groww, has announced the first cohort of its INV.ENT (Innovation & Entrepreneurship) Program, providing financial support, mentorship, and infrastructure to 35 young innovators from the Indian Institute of Technology Bombay (IIT Bombay). The initiative aims to transform promising student ideas into practical, scalable solutions capable of addressing real-world challenges.
The inaugural cohort includes 19 innovative projects selected from nearly 400 submissions received across multiple disciplines. The chosen ideas represent sectors such as Artificial Intelligence (AI), Machine Learning (ML), Climate Technology, Robotics, Agri-Tech, Defence, Healthcare, Assistive Technology, Retail, Design, Gaming, and EdTech.
Highlights of the INV.ENT Program
The INV.ENT Program has been designed to encourage fearless innovation among university students by combining financial grants, industry mentorship, and state-of-the-art infrastructure.
Among the selected teams:
- 3 student teams have been named the program’s inaugural Grand Challenge Fellows.
- Each Grand Challenge Fellow team is eligible for milestone-based annual funding of up to ₹25 lakh.
- The remaining 16 teams have entered the Proof-of-Concept (POC) Support Track, receiving catalytic grants of ₹30,000 each to validate and develop their ideas.
Dedicated Innovation Space at IIT Bombay
Beyond financial assistance, every participating team will receive access to the newly established 15,000-square-foot Groww Innovation Space, located within IIT Bombay’s Desai Sethi School of Entrepreneurship (DSSE).
The facility will enable students to:
- Build working prototypes
- Validate product concepts
- Test key assumptions
- Engage with real users
- Refine business models
- Develop scalable solutions
Unlike traditional innovation competitions, INV.ENT operates without a fixed submission deadline, allowing new student ideas to enter the program throughout the year.
Wide Range of Innovative Projects
The selected ideas demonstrate the diversity of student innovation. Some notable projects include:
- A digital marketplace connecting Dharavi’s ceramic artisans directly with customers.
- A wearable smart sleeve designed to guide physiotherapy patients through rehabilitation exercises.
- A biotechnology platform that converts carbon dioxide (CO₂) into edible protein, promoting sustainable food production.
- An AI-powered defence system capable of protecting critical infrastructure against unauthorized drones.
These projects highlight the growing role of AI, sustainability, healthcare, and advanced engineering in solving contemporary societal and industrial challenges.
Leadership Perspective
Speaking on the launch of the initiative, Kalpana Swaminathan, Head of Groww Foundation, emphasized the organization’s long-term vision.
She stated that the Foundation has always believed in empowering India’s youth through opportunities to learn, build, and innovate. According to her, INV.ENT is designed to provide students with early-stage funding, mentorship, and confidence long before their ideas receive wider recognition.
She added that the Foundation hopes the program will become the starting point for many of India’s future innovators and entrepreneurs.
IIT Bombay’s Vision
Prof. Shireesh Kedare, Director of IIT Bombay, described the collaboration as an important step toward strengthening India’s innovation ecosystem.
According to him, the partnership ensures that talented students receive the freedom, resources, and encouragement needed to experiment with bold ideas.
He emphasized that innovation thrives when students are given the opportunity to test, fail, learn, improve, and build, ultimately creating solutions with long-term societal impact.
Students Welcome the Initiative
Representing one of the selected teams, Mukund from Team BeBrust said the selection process itself helped improve the team’s understanding of its innovation and business potential.
He noted that participation in the program has strengthened the team’s confidence in its mission, expanded its opportunities for collaboration, and is expected to accelerate its development timeline by at least a year.
American Experts Weigh In
Dr. Michael Anderson, an innovation policy researcher based in Boston, Massachusetts, said programs like INV.ENT demonstrate the importance of supporting entrepreneurs at the earliest stages of development.
“Early-stage innovation programs reduce the gap between classroom research and real-world entrepreneurship. Providing funding, mentorship, and infrastructure together significantly improves the likelihood that promising ideas become successful ventures.“
Meanwhile, Jennifer Collins, a Silicon Valley-based venture capital advisor, praised the initiative’s practical approach.
“Many successful startups begin with small prototype grants rather than major investments. By supporting students before commercialization, Groww Foundation is helping create a stronger pipeline of technology-driven companies that could contribute to India’s innovation economy for years to come.“
Why This Initiative Matters
The launch of INV.ENT reflects a growing commitment to strengthening India’s startup ecosystem by investing in young innovators at an early stage.
Key Takeaways:
- 35 student innovators selected from nearly 400 applicants.
- 19 innovative projects funded across multiple technology sectors.
- Up to ₹25 lakh annual support for Grand Challenge Fellows.
- ₹30,000 Proof-of-Concept grants for emerging teams.
- 15,000 sq. ft. Groww Innovation Space established at IIT Bombay.
- Strong focus on AI, Climate Tech, Healthcare, Robotics, Defence, and Sustainable Innovation.
- Program designed to support more than 100 student teams annually.
Outlook
With the launch of the INV.ENT Program, Groww Foundation and IIT Bombay are creating a platform where promising student ideas can evolve into commercially viable and socially impactful innovations. Through sustained financial support, mentorship, and access to world-class facilities, the initiative aims to nurture the next generation of Indian entrepreneurs and technology leaders while strengthening the country’s innovation ecosystem.
