Groww Foundation to Support Over 100 Student Startup Teams Annually, Unveils Ist Cohort

Groww Foundation, the philanthropic arm of Groww, today announced the first cohort of the INV.ENT program, backing 19 ideas by 35 young innovators at the Indian Institute of Technology Bombay (IIT Bombay). The grants are the entry point of a program that will support over 100 student teams a year, with the strongest ones rewarded the Grand Challenge Fellowship with its larger, milestone-based support.

Chosen from nearly 400 submissions across disciplines, the ideas stretch across agri-tech, robotics, climate-tech, assistive-tech, retail, design, edtech, gaming and defence, several leveraging AI and ML to tackle the hitherto unsolved problems. The full portfolio of the selected ideas is at: growwfoundationiitb.org/portfolio

Across the cohort, the winning ideas range across a marketplace that takes ceramics from Dharavi's potters to customers, a wearable sleeve that coaches physiotherapy patients through their exercises, a platform that turns CO2 into edible protein and an AI system built to guard critical infrastructure against rogue drones.

The first cohort spans the program's two tracks. 3 student teams have been named the program's inaugural Grand Challenge Fellows and are eligible for milestone-based annual support of up to Rs 25 lakh each. The 16 remaining student teams enter the POC Support Track with a catalytic grant of Rs 30,000 each.

On top of the grant, this cohort will receive mentoring and a 15,000 sqft dedicated space, called Groww Innovation Space, located at IIT Bombay's Desai Sethi School of Entrepreneurship (DSSE). This space will be used to build, test a core assumption, speak to real users and assemble a prototype, thereby allowing a steady influx of new ideas from students into this ongoing program that doesn't come with a submission deadline - just a commitment to fostering fearless innovation.

"At Groww Foundation, our mission since day zero has been to empower India's youth with opportunities to learn, build and innovate. INV.ENT is a program born out of that belief," said Kalpana Swaminathan, Head of Groww Foundation. "We see this as a launchpad, the place where young innovators get the mentorship, financial support and trust to take their first real shot, long before the world is watching. We're excited to work closely with this cohort of innovators as they turn their conviction into something real, and we hope to look back one day and call this the starting point for some of India's most impactful builders."

Reflecting on what the first INV.ENT cohort represents for student innovation at IIT Bombay, Prof. Shireesh Kedare, Director, IIT Bombay, said, "At IIT Bombay, we believe that the distance between an idea and its impact is often determined by whether someone believes in it early enough. Our partnership with Groww Foundation through INV.ENT is built on that shared conviction. Young innovators deserve the freedom, resources, and encouragement to test bold ideas before the world expects results. Together, we are creating an ecosystem where students do not have to wait for permission to build. They can test, fail, learn, and move forward. That is how enduring innovation ecosystems are built."

Mukund and the Team BeBrust, one of the winning teams, shared, "The overall experience of selection has been really helpful in improving our clarity. We understood the caliber of the team. We are now more confident in the innovation of our idea and in our mission, opportunity, and ability to perceive and experiment. We are looking forward to getting a bigger network and being at least one year ahead of our plan."

IIT Bombay and Groww Foundation Launch Landmark Partnership to Drive Deep-Tech Innovation

IIT Bombay today announced a landmark partnership with Groww Foundation, aimed at accelerating deep-tech innovation and enhancing India's translational research ecosystem. The collaboration is set to introduce a multi-component initiative that empowers student innovators, supports the development of functional prototypes, and fosters a seamless pathway for taking breakthrough academic ideas into real- world applications.

The initiative will be anchored within the Desai Sethi School of Entrepreneurship (DSSE) at IIT Bombay, leveraging its dynamic ecosystem to provide early-stage teams with the infrastructure, mentorship, and structured evaluation systems.

Speaking about the collaboration, Prof. Shireesh Kedare, Director, IIT Bombay, said, "This partnership with Groww Foundation represents a significant step in strengthening India's deep-tech innovation pipeline. By bringing together structured programs and a dedicated innovation space, we are creating a comprehensive pathway for students to translate ideas into solutions. This collaboration reinforces IIT Bombay's commitment to nurturing technologically skilled and socially conscious innovators.”

A cornerstone of this collaboration is the Groww Innovation Space — a state-of- the-art 15,000 sq. ft. facility located in the DSSE building. Complementing this physical hub is the launch of an annual Grand Challenge that will invite interdisciplinary teams of students, researchers, and faculty to develop breakthrough solutions in key focus areas, including holistic education, sustainable livelihood, healthcare, and women’s empowerment, among others.

Kalpana Swaminathan, Head of Groww Foundation, said, “At Groww, we believe that innovation rooted in technology and research-driven entrepreneurship is the key to shaping India’s future. Our partnership with IIT Bombay’s DSSE is designed to unlock the full potential of aspiring student innovators by providing them with the resources and mentorship needed to transform bold ideas into impactful ventures. Together, we aim to build a thriving ecosystem that not only nurtures deep-tech solutions but also contributes to sustainable and inclusive growth across multiple sectors.”

Over a period of four years, student-faculty teams will receive funding and sustained guidance from faculty and mentors, with high-performing interdisciplinary student teams gaining potential access to support for incubation. The program will provide development support to approximately 100 teams each year as part of their entrepreneurship and capstone coursework, enabling nearly 400 teams over four years to build, test, and refine their solutions.

This collaboration marks a significant milestone in advancing India’s technology innovation landscape and fostering a new generation of entrepreneurially minded technologists committed to sustainably building for the future.

About IIT Bombay:

The Indian Institute of Technology Bombay, set up in 1958 as the second IIT, is recognised worldwide as a leader in the field of science and engineering education and research. The Institute was granted the status of 'Institution of Eminence' by the Ministry of Education (the then Ministry of Human Resources Development) on July 9, 2018. IIT Bombay is reputed for the quality of its faculty, cutting edge research, industry relations and the outstanding calibre of students graduating from its undergraduate and postgraduate programmes.

The Institute has 17 academic departments, 47 other academic entities (Centres/ Programmes/ Academic facilities/ Hubs/ Externally funded centres and Labs) and three schools. Over the last six decades, more than 75,000 engineers and scientists have graduated from the Institute. It is served by 751 faculty members and about 150 visiting and part-time faculty considered not only amongst the best within the country but also highly recognised in the world for achievements in the field of education and research. On June 19, 2025, IIT Bombay was ranked 2nd in India and 129th in the world in the Quacquarelli Symonds (QS) World University Rankings for 2026.

About Groww Foundation:

Groww Foundation is dedicated to building inclusive and sustainable communities across India. The foundation focuses on expanding access to quality education, advancing research and development, and driving skill development initiatives for a sustainable livelihood and quality of life.

Through partnerships with nonprofits, educational institutions, governments, and community organisations, Groww Foundation supports on-ground and technology-driven programs with a focus on long-term impact. These initiatives strengthen essential services and promote socioeconomic empowerment, ensuring wider access to opportunities created by India’s growing digital and economic transformation.

India’s Mutual Fund AUM to Cross ₹300 Lakh Crore by 2035, Equity Holdings at ₹250 Lakh Crore: Bain–Groww Report

India’s mutual fund AUM is projected to surpass INR 300 lakh crore by 2035, with direct equity holdings expected to reach INR 250 lakh crore over the same period, signalling a major shift in the country’s investment landscape. These findings are part of the How India Invests 2025 report released today by Bain & Company in partnership with Groww.

The mutual fund ecosystem continues to deepen and expand, with the next wave of growth driven by increasing household adoption, strong digital enablement, supportive regulation and growing investor trust. According to the report, mutual fund penetration across Indian households is expected to double from 10% to 20% over the next decade. The next phase of industry growth will come primarily from mass and mass-affluent households beyond the top 30 cities. Increased adoption among affluent investors across the next 70 cities will further accelerate this expansion. The share of long-term holdings is also rising; over-five-year holdings in industry AUM have doubled from 7% to 16%, and over-five-year SIP holdings have increased from 12% to 21%, reflecting growing investor trust and confidence.

Saurabh Trehan, Partner & Head of Bain & Company’s Financial Services practice in India, said, “Indian households are steadily shifting from a traditional savings mindset to a more investment-oriented approach, with mutual funds and direct equities emerging as the fastest-growing asset classes in recent years. As more households, especially young and first-time investors and those beyond the top 30 cities embrace market-linked products and longer holding periods, we’re seeing the emergence of a deeper and more resilient domestic investor base. With SIP inflows and long-term holdings rising sharply, this evolution will be central to how India finances its growth in the years ahead.”

The expected growth in equity participation, on the other hand, can be attributed to the shift from speculative trading to long-term investing, in addition to continued digitally driven penetration and strong market performance. Approximately 9 crore incremental retail investors are expected from Gen Z and millennials, led by higher digital adoption and growing financial literacy.

Smaller Cities and First-Time Investors Are Shaping the Next Phase of Growth

The report highlights a broad-based democratisation of investing in India, with rising participation from younger investors, women, and households beyond the major metros.

India’s investor demographics are shifting rapidly, with new generation of participants entering the market and likely to contribute to the market growth. Mutual fund folios have grown 2.5x in the past five years, yet individual gross flows have increased by just 7%, underscoring the entry of a large cohort of new investors with smaller ticket sizes. Average monthly SIP inflows have risen at an estimated 25% CAGR over the last decade, driven largely by 18 to 34-year-olds, a demographic which is increasingly shaping the direction of domestic capital markets. Younger investors under 30 now represent 40% of NSE-registered investors, compared with 23% in FY19, underscoring the generational shift driving India’s capital markets.

Another key trend highlighted in the report is rising participation from smaller urban centers Today, 55%-60% of new SIP registrations originate from B30 cities, demonstrating that India’s investment ecosystem is broadening beyond major metros. Cities beyond the top 110 contributed 19% of mutual fund AUM in FY25, up from 10% in FY19. Women’s participation is also rising steadily with salience of women investors rising to 25% in FY24 vs 20% in FY19.

Digital Platforms Are Reshaping Investor Behaviour

Digital platforms have emerged as the fastest-growing channel for retail investing over the last five years, with approximately 80% of equity investors and 35% of mutual fund investors being onboarded through these platforms.

Gen Z now makes up approximately 45% of the investor base and continues to grow, with salaried individuals forming the dominant occupational segment. The reach of digital platforms is no longer confined to major metros with Tier-2+ city investors making up nearly half of all digital platform users further demonstrating the increasingly broad-based reach of digital investment channels across India.

"We are witnessing a definitive structural shift in Indians—moving from a savings-first to an investing-first mindset. The government’s push on digital infrastructure, combined with progressive regulatory measures, has democratized access and fostered deep trust in the ecosystem. A diverse, resilient investor base is emerging from Tier 2+ cities and younger demographics, who are strengthening India’s capital markets from within.”, said Harsh Jain, co-founder and COO, Groww.

Retail Investing as a Key Enabler of India’s Journey to a $10+ Trillion Economy

Retail investing is set to play a pivotal role in India’s journey toward a $10+ trillion economy, contributing across capital access, wealth creation, and employment.

One of the most important contributions of retail investing is improved access to capital. Higher participation provides deeper liquidity in capital markets, enabling more primary issuances particularly for micro, small, and medium-sized enterprises. Reflecting this trend, annual SME IPO proceeds have risen sharply from around INR 1,800 crore in FY19 to nearly INR 6,000 crore in FY24, significantly expanding the availability of growth capital.

At the same time, greater financial awareness and digital access are democratizing wealth creation, helping diverse demographics shift from traditional deposits toward higher-return market-linked products. This shift is particularly important for improving financial independence among women and enabling younger investors to build long-term wealth.

Retail investing is poised to create more than 7 lakh new jobs, both within the financial ecosystem and across businesses gaining access to growth capital. The growing prominence of domestic mutual funds and rising retail inflows is also reinforcing the resilience of India’s capital markets, acting as a counterweight to foreign portfolio outflows and enabling faster recoveries during periods of volatility.

“India is entering a new era of retail investing, one that is poised to play a pivotal role in the country’s economic development. By expanding access to capital, broadening wealth creation, unlocking new job opportunities, and strengthening the resilience of India’s capital markets, retail investors are reshaping the flow of capital in meaningful ways. Just as importantly, steady domestic inflows are giving India’s capital markets a level of resilience we haven’t seen before, helping them to absorb volatility and recover faster.”, said Rakesh Pozhath, Partner and a leading member of Bain & Company’s Financial Services practice in India.

As participation deepens across demographics, generations, and geographies, India’s investment landscape is entering a more inclusive, resilient, and mature phase. These shifts from longer holding periods to a sustained SIP culture and wider adoption across the country mark a fundamental turning point in how India builds long-term wealth and capital market strength for the decade ahead.

Investing Platform Groww Raises Seed Funding from Y Combinator, Mukesh Bansal, Ankit Nagori

Investing platform Groww has raised funding from Y Combinator, Mukesh Bansal (founder Myntra & Curefit) and Ankit Nagori (Curefit, ex-CBO Flipkart) to make investing simple for new investors in India.

Groww is founded by ex-Flipkart team with rich experience in engineering, product, finance and e-commerce. They faced this problem when they began to invest and wanted to build a product that really works for Indian millennials.

Groww leverages data science to make investing simple, accessible and transparent. It. is a customer-centric investment platform that also hosts several communities that help investors make the right investing decisions. Groww lets investors understand financial products through its user-friendly interface and content that is specific to their needs. Currently, investors can find more than 5000 mutual funds on Groww and invest without any paperwork. Groww is available on an Android app and website and would be coming soon on iOS.

Lalit Keshre, Co-founder & CEO, says, “Our long-term vision is to build a modern financial services company out of India, accessible to everyone. That means anything that users get from a bank, should be able to get it faster and cheaper on Groww with 10x better user experience.”

Mukesh Bansal, says, “Ankit and I are excited to partner with Groww to transform personal investing in India. Groww has an exceptional team, built a solid product in a short period of time and is demonstrating very robust growth. Groww’s approach in bringing cutting edge technology and highly customer centric user interface will make investing easy for millions of consumers.”

Holly Liu, Partner at Y Combinator and Co-founder of Kabam adds, “I cannot think of a better way to empower the growing group of Indian millennials by enabling them to make financial investment choices that are more accessible, faster, and cheaper than traditional banks. Groww's product does just that. The product is built from a team with the right expertise and the right experience to tackle this large opportunity.”

With more than 300 million online transacting users, less than 15 million users invest. Investing is complicated. Groww lets users invest in mutual funds just like they shop online or book a cab. The traditional tedious and time-consuming process of investing through offline brokers is losing relevance with more people moving online and expecting transparency with convenience. Groww’s mission is to make investing simple for the next 100 million people to effectively grow their wealth by moving towards digital financial products.