Social Justice and Empowerment Minister Thaawarchand Gehlot launches Ambedkar Social Innovation & Incubation Mission for SC students

The Minister of Social Justice and Empowerment, Thaawarchand Gehlot on September 30, 2020, launched the Ambedkar Social Innovation and Incubation Mission under the Venture Capital Fund for SCs.

The mission has been launched by the government with a view of promoting innovation and entrepreneurship among the SC students who have been studying in higher educational institutions.

During the launch, the Union Minister informed that the Ministry had launched the Venture Capital Fund for SCs in 2014-15 with an aim of developing entrepreneurship among the Divyang youth and SC to enable them to become job-givers.

अनुसूचित जाति के लिए वेंचर कैपिटल फंड के तहत अंबेडकर सोशल इनोवेशन एंड इनक्यूबेशन मिशन (एएसआईआईएम) को वर्चुअल माध्यम से लॉन्च किया।
⁰एएसआईआईएम अगले 4 वर्षों में अनुसूचित जाति के युवाओं के 1000 स्टार्ट-अप का समर्थन करेगा।

https://t.co/OfGvR9pGNV pic.twitter.com/fiKAg1EZIk

— Thawarchand Gehlot (@TCGEHLOT) September 30, 2020

Ambedkar Social Innovation and Incubation Mission: Highlights

• Under ASIIM, 1000 SC youths will be identified in the next 4 years with start-up ideas through a systematic and transparent process in convergence with the technology business incubators.

• The government will fund them up to Rs. 30 lakh in a three year period as equity to encourage the students to take innovation and entrepreneurship without seeking jobs.

• Successful ventures will further qualify for the venture funding of up to Rs. 5 crores from the Venture Capital Fund for SCs.

About Venture Capital Fund for SCs:

The Venture Capital Fund for SCs was launched in 2014-15 by the government with an aim to provide concessional finance to the entities of the SC entrepreneurs. Under the venture capital fund, 117 companies promoted by SC entrepreneurs have been sanctioned financial assistance to set up business ventures.