Ambedkar Social Innovation & Incubation Mission (ASIIM)

  • October 1, 2020
  • Posted by: OptimizeIAS Team
  • Category: DPN Topics
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Subject: Government initiative

Context:

Union Minister for Social Justice and Empowerment e-launched the Ambedkar Social Innovation and Incubation Mission (ASIIM) under Venture Capital Fund for SCs through Video Conferencing

Concept:

  • Ministry of Social Justice had launched the Venture Capital Fund for SCs (VCF-SC) in 2014-15 with a view to developing entrepreneurship amongst the SC/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. 
  • Objectives
    • 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.
  • Benefits
    • Under the “Ambedkar Social Innovation Incubation Mission (ASIIM)” initiative, 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 funding so that they can translate their start-up ideas into commercial ventures.
    • Successful ventures would further qualify for venture funding of up to Rs. 5 Crore from the Venture Capital Fund for SCs.
Ambedkar Social Innovation & Incubation Mission (ASIIM) Government Initiative