How This Unconventional US Grant Is Powering India‘s Young Founders
A unique grant program, Emergent Ventures (EV), is quietly but powerfully fueling a surge of innovation amongst India’s young entrepreneurial class, notably in the tech hub of Bengaluru. Unlike conventional funding models, EV prioritizes rapid deployment of capital and fosters a tight-knit community, enabling founders to overcome hurdles and build impactful ventures.
Founded by Nathan and Julie Kaplan, EV offers grants to individuals tackling pressing societal challenges with novel ideas. In India, the program has become a catalyst for a new generation of founders working in fields like aerospace, artificial intelligence, and deep technology.
The accessibility of EV is a key differentiator. As Rohan Mittal, an EV India grantee, explains, “Someone who has just raised money could just reach out to you over one WhatsApp message, and you can meet up.” This streamlined approach extends beyond initial contact. EV provides support ranging from basic incorporation assistance and legal counsel to access to investors, engineers, and fact-checking resources.
Beyond financial support, EV actively cultivates a strong community. Each year, grantees gather for a three-day conference, covering all travel and accommodation costs. “They just bring everyone in, and we all have three days of just really heavy discussions about life, work, how it’s going, and stuff like that,” Mittal describes. This fosters collaboration and mutual support, allowing founders to navigate challenges collectively.
The impact of EV extends beyond direct funding. Grantees are often inspired to create their own initiatives.For example,Shroff,an EV grantee,launched a microgrants program for Solana in 2021,administered by local Superteams. This program, mirroring EV’s rapid decision-making, promises a decision within 72 hours and payment within seven days for projects related to crypto and solana, and has distributed approximately $2 million in grants within India to date.
Even organizations like gradCapital, which provides $40,000 grants to student founders, have benefited from EV’s support. Abhishek Sethi, founder of gradCapital, was part of the seventh cohort announced in August 2024 and was strategically placed in Bengaluru to integrate into the local startup ecosystem.
This ripple effect is evident in the experiences of founders like Shreepoorna S Rao,who laughingly notes she’s been funded by Emergent Ventures ”twice” – first through gradCapital’s Atomic Fellowship (supported by EV),then through a direct investment from gradCapital,and finally with further support from EV to help save her company.
The program’s influence is deeply felt within the Bengaluru entrepreneurial landscape. “I think it’s very difficult to put in words what the community has done for bengaluru in general. Most of the founders we know – and you’ve written about as well – are all EV-backed. And these are people who are highly respected and are doing genuinely great work, which will probably lead the country forward,” mittal states.
The success stories emerging from EV India suggest a future where innovation is democratized and self-motivated work flourishes. By empowering young innovators to develop cutting-edge solutions, EV is contributing to a more self-reliant India, poised to compete on the global stage.