New fund supports innovation in India

Philips contributes to $100 million funding for the Bharat Innovation Fund

The Bharat Innovation Fund (BIF) — an early-stage deep-tech and IP focused venture fund — announced it has closed its first $100 million fund with participation from marquee institutional investors, such as Philips and other corporations, banks and insurers.

The goal of the fund is to help convert early-stage start-ups in India into important, competitive companies and global leaders. India’s entrepreneurs are already producing IP-driven innovations using artificial intelligence, machine learning and the Internet of Things in healthcare, biotech, energy and other fields. BIF will help provide these innovative start-ups with capital, access to market, strategic inputs and partnerships.