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News: Ministry of Social Justice and Empowerment launched the Ambedkar Social Innovation and Incubation Mission under Venture Capital Fund for SCs
Facts:
Objective:
- 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 the Department of Science and Technology.
Features:
- Under the mission, 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
Additional Information:
Venture Capital Fund for SCs
- It was launched in 2014-2015
- Aim: To develop entrepreneurship amongst the SC and Divyang youth and to enable them to become job-givers.
- Objective: to provide concessional finance to the entities of the SC entrepreneurs.
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