#GS2 #Governance #Schemes
Union Minister for Social Justice and Empowerment Shri Thaawarchand Gehlot has launched the ‘Ambedkar Social Innovation and Incubation Mission’ (ASIIM) under Venture Capital Fund for SC’s with a view to promote innovation and enterprise among SC students studying in higher educational institutions.
About the scheme
- ASIIM will be set up through the Venture Capital Fund for Scheduled Castes (VCFSC).
- It’s objective is to include –
- To promote entrepreneurship among the SC Youth with special preference to Divyangs;
- To support (1,000) innovative ideas till 2024 through a synergetic work with the Technology Business Incubators (TBIs) set up by Department of Science and Technology;
- To support, promote, hand-hold the start-up ideas till they reach commercial stage by providing liberal equity support; and
- To incentivise students with innovative mind-set to take to entrepreneurship with confidence.
- The ASIIM initiative will be implemented by the Venture Capital Fund for SCs (VCF-SCs) which was set up in 2016 with the Fund size of Rs. 500 crores.
- Under this initiative VCF-SC shall target SC students / young entrepreneurs working in Technology Business Incubators (TBIs) supported by Department of Science and Technology (DST) in higher education and technology institution including Business / Management schools. The VCF-SC shall extend all support in the form of hand-holding, guidance, mentoring, besides providing equity support up to Rs 30 lakh over a period of three (3) years to each entity of young SC students / entrepreneurs. The budget of ASIIM for the next four years has been kept at Rs 19320lakhs.