How This Unconventional US Grant Is Powering India‘s Young Founders
A unique grantโฃ program, Emergent โฃVentures (EV), is quietly but powerfully fueling a surge of innovation โamongst India’s young โฃentrepreneurial class,โฃ notably in the tech hub of Bengaluru. Unlike conventional โขfunding models, EVโ prioritizes rapid deployment of capital and fosters aโฃ 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 aโค catalyst for a new generation of โfounders working inโ fields likeโข aerospace, โคartificial intelligence, โฃand deep technology.
The accessibility โof EV is a key differentiator. Asโข Rohan Mittal, an EV India grantee, explains, “Someone who has โฃjust raised money could just reach out to you over one WhatsApp message, and you can meet up.” This โstreamlined 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.
Beyondโข financial support,โค EV actively cultivates a strong community. Each year, grantees gather for โฃa three-day conference, covering all travelโค and accommodation costs. “They just bring everyone in, and we all โฃhave three โdays of just really โฃheavyโค discussions about life, work, how it’s going, and stuff like that,” Mittal describes. This fosters collaboration โขand mutual support, allowing founders to navigate challenges โcollectively.
The impact of EV extends โbeyond direct funding. Grantees โฃare 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 72โข hours โขand payment within โseven days for projects related to crypto and solana, and has distributed approximately $2 million in grants within India to date.
Even organizations โlike โขgradCapital, which providesโฃ $40,000 grants to student founders, have โbenefited from EV’s support. Abhishek Sethi, founderโข of gradCapital, wasโข part of the seventh cohort announced in August 2024 and was strategicallyโ placed in Bengaluru to integrate into the local startup ecosystem.
This ripple โคeffect is evident in the experiencesโค of foundersโค like Shreepoorna S Rao,who laughingly notes she’s been funded by Emergent Ventures โ”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’sโฃ influence is deeplyโ 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 โขof the founders we know – and you’ve written about as well – are all EV-backed. And these are people who areโข highly respected and are doing genuinely โฃgreat work, which will probably lead the country forward,” mittal states.
The success stories emerging from EV India suggest โคa 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 โคIndia, poised to compete on the globalโ stage.