On September 30, 2020 Union Minister for Social Justice & Empowerment, Thaawarchand Gehlot virtually launched “Ambedkar Social Innovation & Incubation Mission (ASIIM)” under Venture Capital Fund for Scheduled Castes (SC)(VCF-SC). It has been launched to promote innovation, enterprise among SC students in Higher Education Institutions and to help them become Job Givers.
Minister of State (MoS) for Social Justice & Empowerment, Rattan Lal Kataria, Deputy Managing Director (MD) of Industrial Finance Corporation of India (IFCI), Sunil Kumar Bansal were present during the launch.
Objectives of the Scheme:
- To promote Entrepreneurship among SC Youth with focus on Divyangs (Person with Disabilities).
- To provide Support for 1000 Innovative ideas (till 2024) through Technology Business Incubators (TBIs)
- To promote, support start-up ideas till Commercial stage through liberal equity support.
- To Encourage students with an innovative mind-set to take entrepreneurship.
i.ASIIM is in line with the Government of India’s Stand Up India Programme and will be funded and implemented by VCF-SC.
ii.The Budget of ASIIM for Four Years has been kept at INR 19, 320 Lakhs.
iii.Under the ASIIM initiative, 1,000 SC youths will be identified in the next four years through TBI in higher educational institutions.
iv.VCF-SC will extend support in form of guidance, mentoring and providing them with an amount of money (equity).
i.The youth will be funded INR 30 Lakhs in 3 years to implement their start-up ideas into commercial ventures.
ii.The successful ventures will qualify for Venture Funding of up to INR 5 Crores from VCF-SC.
Venture Capital Fund for Scheduled Castes (VCF-SC):
i.It was launched by the Ministry of Social Justice and Empowerment in 2014-15.
ii.The main aim is to develop entrepreneurship among SC/Divyang Youth.
Recent Related News:
i.On August 15, 2020, the State Governments and the 272 District Collectors launched a seven-month-long anti-drugs campaign namely “Nasha Mukt Bharat” or “Drug-Free India” by the Ministry of Social Justice and Empowerment (SJE) which will run till March 31, 2021.
ii.On September 7, 2020 Thaawarchand Gehlot, Union Minister for Social Justice and Empowerment launched the 24×7 Toll-Free Mental Health Rehabilitation Helpline “KIRAN” (1800-500-0019). The Helpline has been developed by the Department of Empowerment of Persons with Disabilities (DEPwD), Ministry of Social Justice & Empowerment.
About Ministry of Social Justice & Empowerment:
Union Minister – Thaawarchand Gehlot
Minister of State (MoS) – Krishan Pal Gurjar, Rattan Lal Kataria, Ramdas Athawale