The Ambedkar Social Innovation and Incubation Mission (ASIIM) was launched by the Ministry of Social Justice & Empowerment. It has launched under Venture Capital Fund for Scheduled Castes (SCs). It was for promoting innovation and enterprise among SC students studying in higher educational institutions.
ASIIM will be able to identify 1,000 initiatives of SC youth through a planned and transparent process. It was done with the collaboration with technology business incubators. It would be funded with 30 lakh over three years as equity. The aim of the scheme is to encourage innovative students to pursue innovation and entrepreneurship without looking for work.
The main objectives of ASIIM are:
- 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.
- To support, promote, hand-hold the start-up ideas till they reach commercial stage by providing liberal equity support.
- To incentivise students with an innovative mindset to take to entrepreneurship with confidence.
The SC or Divyang youth with following eligibility are eligible for support under ASIIM:
- Youth who have been identified by the TBIs being promoted by Department of Science & Technology.
- Youth who are identified for incubation by reputed private TBIs.
- Students who have been awarded under the Smart India Hackathon or Smart India Hardware Hackathon being conducted by Ministry of Education.
- Innovative ideas focusing on the socio-economic development of the society identified in the TBIs.
- Start-ups nominated and supported by corporates through CSR funds.
- The start-up ideas presented by SC/Divyang students which are selected by the TBIs will be automatically selected for incubation.
- Other applications/proposals received from various Scheduled Castes and Divyang Start-Ups will be taken up as per the guidelines of the fund.