Explanation :
The Ambedkar Social Innovation and Incubation Mission (ASIIM) was launched in 2020 by the Ministry of Social Justice and Empowerment (MSJE) in order to promote innovation and entrepreneurship among SC students studying in higher educational institutions. The main objective of the scheme is to develop entrepreneurship among SC/Divyang youth and enable them to become “job-givers” instead of “job-seekers”.
Under this scheme, 1000 SC youth with start-up ideas will be identified through the Technology Business Incubators (TBIs) in the next 4 years. The main objective of the scheme is to support these 1,000 innovative ideas till 2024 through the TBI set up by the Department of Science and Technology. Initial funding of Rs. 30 lakhs will be provided for 3 years as equity funding to convert their startup into commercial ventures. Successful ventures would further qualify for venture funding of up to Rs. 15 crore from the Venture Capital Fund for Scheduled Castes.
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