Ambedkar Social Innovation and Incubation Mission

The Ministry of Social Justice & Empowerment has launched the ‘Ambedkar Social Innovation and Incubation Mission (ASIIM)’ under Venture Capital Fund for Scheduled Castes (SCs) with a view to promoting innovation and enterprise among SC students studying in higher educational institutions.
1,000 SC youth would be identified in the next 4 years with start-up ideas through the Technology Business Incubators (TBIs) in various higher educational institutions.
They will be funded @ Rs. 30 lakhs in 3 years as equity (investment) funding so that they can translate their start-up ideas into commercial ventures.
Successful ventures would further qualify for venture capital funding of up to Rs. 5 Crore from the VCF-SCs.
The Venture Capital Fund for the SCs were launched in 2014-15 to develop entrepreneurship among the SCs and enable them to become job givers. The main objective of the fund is to provide concessional finances to the SC entrepreneurs.
Under the fund, more than 117 companies were sanctioned financial assistance to set up business ventures.
Venture capital is a form of private equity and a type of financing that investors provide to startup companies and small businesses that are believed to have long-term growth potential.