What you get
- Provision of equity assistance up to ₹30,00,000/- over a period of 3 years for identified innovative ideas from Scheduled Caste students in Technology Business Incubators (TBIs). | - The assistance covers costs toward Technology Business Incubator (TBI) accommodation cost, Hardware, Software, Fellowship, Travel and marketing, Intellectual Property (IP) filing, Tool-room expenses, and Co-workers. | - Successful ventures would further qualify for venture funding up to ₹15,00,00,000/- from the Venture Capital Fund for Scheduled Castes (VCF-SC). | - The Venture Capital Fund for Scheduled Castes (VCF-SC) shall extend all support in the form of hand-holding, guidance, and mentoring. | Disbursement Details | - The maximum capital of ₹30,00,000/- is disbursed at ₹10,00,000/- every year over a period of 3 years. | - The fund infused shall be in the form of Equity, Optionally Convertible Preference Shares (OCPS), or Compulsorily Convertible Preference Shares (CCPS). | - The tenure of financial assistance under Ambedkar Social Innovation and Incubation Mission (ASIIM) is 10 years, starting from the date of the first disbursement. | Conditions | - _The equity assistance is subject to satisfactory evaluation of the progress by the concerned Technology Business Incubator (TBI)._ | - _The financial assistance shall be released to the entities/Companies promoted by these young Scheduled Caste entrepreneurs._ | - _Selected participants must form or have a private limited or limited company where the Scheduled Caste entrepreneur holds at least 51% shareholding._ | - _The entrepreneurs must bear the expenses required for forming a company during the 3-year incubation period._ | - _The entity must maintain the 51% Scheduled Caste shareholding along with management control until the assistance under the Ambedkar Social Innovation and Incubation Mission (ASIIM) is present in the company._ | - _The conversion of shares provided as funding to equity will be a maximum of 49% stake and will occur only after 3 years, differing on a case-to-case basis._ | - _Proprietary Firms, Partnership Firms, One Person Company (OPC), Limited Liability Partnerships (LLPs), or any other establishment incorporated under any law in force should convert itself into a Private Limited or Public Limited company before receiving assistance under the fund._
Who can apply
Required Paperwork
- Aadhaar Card
- PAN Card
- Income Certificate
- Residence Proof (Domicile)
Common Questions
How will the fund inject capital into my company, and what is the maximum equity stake that the Investment Manager will ultimately convert this into?
The fund under the initiative shall be infused as Equity, Optionally Convertible Preference Shares (OCPS), or Compulsorily Convertible Preference Shares (CCPS). The conversion of said shares to equity will be a maximum of 49% stake and will occur only after 3 years, varying on a case-to-case basis.
Are young entrepreneurs who have been identified for incubation by privately operated or reputed private Technology Business Incubators eligible to apply for this specialized support?
Yes, youth who are identified for incubation by reputed private Technology Business Incubators (TBIs) are eligible for support under this mission.
What is the maximum amount of financial assistance a company owned by a Scheduled Caste entrepreneur can receive as capital, and over what specific duration?
Eligible companies enrolled with Technology Business Incubators (TBIs) can receive a maximum capital of ₹30,00,000/- over a period of 3 years. This funding is disbursed annually at ₹10,00,000/- every year.
Is it a necessary criterion that the innovative idea must be focused on the socio-economic development of society and specifically identified within an incubator?
Yes, applicants must possess innovative ideas focusing on the socio-economic development of the society. These ideas must be identified in the Technology Business Incubators (TBIs) operating in either the public or private sector.
If my current business is structured as a Proprietary Firm, Partnership Firm, or a Limited Liability Partnership, can I still receive assistance from the fund?
Proprietary Firms, Partnership Firms, One Person Company (OPC), or Limited Liability Partnerships (LLPs) must convert themselves into a Private Limited or Public Limited company before receiving assistance under the fund.
Can an applicant receive support if their start-up has been nominated and financially backed by a corporation using its Corporate Social Responsibility funds?
Yes, start-ups nominated and supported by corporates through Corporate Social Responsibility (CSR) funds are explicitly eligible for assistance under the mission.
What specific category of youth or individual must the applicant belong to in order to be eligible for support under this mission?
The applicant must be a youth belonging to the Scheduled Caste (SC) or Scheduled Caste Divyang category to be eligible for support under the Ambedkar Social Innovation and Incubation Mission (ASIIM).
Are individuals belonging to Scheduled Tribes (ST), Other Backward Castes (OBC), or the General category allowed to benefit from the funding provided under this initiative?
No, only Scheduled Caste entrepreneurs and youth are eligible for financial assistance under this fund, according to the guidelines.
What specific types of projects are covered under this initiative, and are there any negative sectors that are specifically excluded from receiving investment?
Innovations in the Manufacturing and Service sector are eligible for funding. However, the fund cannot invest in negative sectors as defined by the Reserve Bank of India (RBI) guidelines.
Does eligibility extend to youth identified by Technology Parks, Industrial Parks, or Science and Technology Parks of India promoted by the Department of Science & Technology?
Yes, youth identified by the Technology / Industrial Parks or Science and Technology Parks of India (STPI) being promoted by the Department of Science & Technology (DST), or other non-DST incubation centers supported by the Government of India, are eligible.
What is the total length of time, or tenure, for which the financial assistance provided under this mission remains active or sanctioned?
The total tenure for the financial assistance provided under the Ambedkar Social Innovation and Incubation Mission (ASIIM) is 10 years. This period begins starting from the date of the first disbursement of funds.
What minimum percentage of the total shareholding of the company must be retained by the Scheduled Caste entrepreneur to maintain eligibility for assistance?
The Scheduled Caste entrepreneur must hold at least 51% of the total shareholding of the company, along with management control. This minimum shareholding must be maintained until the assistance under the mission is no longer present in the company.
Will the support provided include coverage for the various necessary expenses incurred by the entrepreneur while being mentored at an incubation center?
Yes, the equity assistance provided under the initiative is designed to cover various expenses, including Technology Business Incubator (TBI) accommodation cost, hardware, software, fellowship, travel and marketing, Intellectual Property (IP) filing, tool-room expenses, and co-workers.
Are there any geographical restrictions, such as state or city boundaries, regarding where the proposed project must be located within the country?
No, all projects across any part of India would be considered for investment under the mission. Eligibility is based on meeting the core criteria, not geographical location.