“Ambedkar Social Innovation Incubation Mission”- 1000 Dalit startups in three years
The Central government is targeting to open 1000 Dalit startups in the next three years and the program will be effective from 2020-2024. ASIIM will help “incubate” ideas from Dalit techies and the program will be conducted under the Ministry of Social Justice and Empowerment.
The central government would issue funds of Rs 308 Crore for the “Ambedkar Social Innovation Incubation Mission” (ASIIM). They are considering a scheme intended to help Dalit techies refine a raw startup.
The Central government is targeting to open 1000-Dalit startups in the next three years and the program will be effective from 2020-2024. ASIIM will help “incubate” ideas from Dalit techies and the program will be conducted under the Ministry of Social Justice and Empowerment. The funds will be raised through the Ministry of Social Justice's "Venture Capital Fund for SC", which is managed by IFCI Venture Capital Fund Limited.
A National Social Innovation Hub will be created by ASIIM for those who study in a technical institute or work in the private sector, innovative products, services, and solutions will be prepared based on the fresh idea of the young people from the Dalit techies. The cherry on the cake is that the ideas will be selected from SC and physically challenged youth studying in technological institutes or working in the private sectors. A panel of professionals like Chartered accountants, digital marketing, and legal advisers will offer advice to SC entrepreneurs.
R Subrahmanyam, secretary, social justice, and empowerment ministry said, “The ideas and concepts that mature for launch will be provided help by commercial banks, Venture capital funds, and angel investors, and by the “VCF for SCs” which is an ongoing scheme to fund Dalits”.
