Ambedkar Social Innovation and Incubation Mission

Social Justice and Empowerment Minister Thaawarchand Gehlot launched the Ambedkar Social Innovation and Incubation Mission under Venture Capital Fund for SCs, with a view to promoting innovation and enterprise among SC students studying in higher educational institutions.

Highlights Of Ambedkar Social Innovation Incubation Mission

  • Ministry had launched the Venture Capital Fund for SCs in 2014-15 with a view to developing entrepreneurship amongst the SC and Divyang youth and to enable them to become job-givers.
  • The objective of this fund is to provide concessional finance to the entities of the SC entrepreneurs.
  • Under this fund, 117 companies promoted by SC entrepreneurs have been sanctioned financial assistance to set up business ventures.
  • Under Ambedkar Social Innovation Incubation Mission initiative, one thousand SC youth will be identified in the next four years with start-up ideas through the Technology Business Incubators in various higher educational institutions.
  • They will be funded 30 lakh rupees in three years as equity funding to translate their start-up ideas into commercial ventures.
  • Successful ventures would further qualify for venture funding of up to five Crore rupees from the Venture Capital Fund for SCs.

Source : AIR

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