Context:

Ambedkar Social Innovation and Incubation Mission launched to promote entrepreneurship amongst the SC Youth with special preference to Divyangs.

About the Scheme

• Under the scheme, 1000 SC students with innovative startup ideas will be identifi ed with the help of Technology Business Incubators (TBIs) in various higher educational institutions. An equity funding worth Rs 30 Lakhs will be given over 3 years to translate the startup ideas into commercial ventures.
• Successful ventures would further be eligible for venture funding of up to Rs 5 crore from Venture Capital Fund for SCs
  • Youth identifi ed by TBIs being promoted by department of science and technology.
  • Students awarded under Smart India Hackathon or Smart India Hardware Hackathon being conducted under Ministry of Education.
  • Innovative ideas focusing on the socio-economic development of the society identifi ed in the TBIs.
  • Startups nominated and supported by corporates through CSR funds.
• Venture Capital Fund for SCs- A fund launched by Ministry of Social Justice in 2014-15 to develop entrepreneurship among the SC/Divyang Youth by providing concessional fi nance to the entities of SC entrepreneurs.
• Technology Business Incubators: is type of a business incubator focused on supporting startups which use modern technology as primary means of innovation.