CIIE.CO: The IIM Ahmedabad Continuum That Built India's Startup Pipeline

Few institutions have shaped Indian entrepreneurship as continuously as CIIE.CO, the innovation continuum set up at IIM Ahmedabad in 2002 with support from the Government of India's Department of Science and Technology and the Government of Gujarat. Recognised as a Centre of Excellence, it was rebranded from IIMA-CIIE to IIMA Ventures in 2024 — but the CIIE.CO identity still defines how founders encounter it: an incubator, accelerator, seed investor and research engine in one.

The scale is unmatched in Indian institutional venture. In 2024 the organisation reported having mentored over 7,000 founders, accelerated more than 1,700 startups, provided capital to over 700 companies, and published 400+ research publications. More recent figures put the footprint even higher: over 30,000 founders mentored and coached, 2,200+ startups accelerated across 105+ cohorts, and 370+ startups funded at the pre-seed and seed stages — with portfolio companies collectively raising more than $1 billion in follow-on capital.

CIIE.CO's influence runs through the funds it has incubated. In 2012 it launched Infuse Ventures, India's first energy and sustainability venture fund, with a ₹100 crore budget backed by the Ministry of New and Renewable Energy, BP and the Technology Development Board. In 2018 came two flagship platforms: the Bharat Inclusion Initiative, a $25 million programme for financial-inclusion and livelihood startups (anchored by the Bill & Melinda Gates Foundation, the Michael & Susan Dell Foundation and Omidyar Network), and the deeptech-focused Bharat Innovation Fund. A dedicated Deeptech Accelerator Fund followed in 2023, the same year CIIE.CO partnered with SIDBI on a ₹40 crore pre-seed deeptech fund.

Its programme shelf reads like a history of Indian acceleration itself: iAccelerator (2009), Power of Ideas (2010), Powerstart (2011), Startup Oasis in Rajasthan (2014), India's first food-and-agri accelerator (2015) and healthcare accelerator (2016), the India Innovation Growth Program (2017), the Venture Investing Accelerator for first-time investors (2024), and an AI Residency Program launched in 2026. Regional centres operate in Jaipur, Indore, Assam and Madhya Pradesh, and the organisation expanded to Dubai in 2025.

The official site showcases a portfolio that spans the continuum's three investment themes — deeptech, digitalisation and climatetech — including Razorpay, IdeaForge, Agnikul, Guvi, Zouk, 5C Network, Fourth Partner Energy, Tookitaki, Morphing Machines and Chara. Capital flows through government grants, pre-seed and seed cheques of around ₹10–15 lakh, up to investments of $5 million.