Ambedkar Social Innovation and Incubation Mission

Before discussing the Ambedkar Social Innovation And Incubation Mission, let us learn about what is the aim of the Ambedkar Social Innovation and Incubation mission? The Ambedkar Social Innovation And Incubation Mission was launched by the Ministry of Social Justice & Empowerment in 2014-15. It Was launched under Venture Capital Fund for Scheduled Castes (SCs). It supports SCs by promoting innovation and enterprise among SC students studying in higher educational institutions. It aims to enable SC and Divyang youth to become job-givers. So, here we discuss the importance of the Ambedkar Social Innovation and Incubation Mission and some key points about the Ambedkar Social Innovation and Incubation Mission. 

Objectives Of Ambedkar Social Innovation and Incubation Mission

The key points about the Ambedkar Social Innovation and Incubation Mission are:-

• To upgrade entrepreneurship among the SC Youth with a special preference for Divyangs. 

• To provide (1,000) innovative ideas till 2024. A synergistic work with the Technology Business Incubators set up by the Department of Science and Technology.

• To encourage and support the startup ideas till they reach the commercial stage by providing liberal equity support. 

• To motivate students with an innovative mindset to take to entrepreneurship with confidence. 

Benefits Of Ambedkar Social Innovation and Incubation mission

The benefits and the importance of the Ambedkar Social Innovation and Incubation Mission. They help you to understand what is the aim of the Ambedkar Social Innovation and Incubation mission. 

• In the Ambedkar Social Innovation and Incubation Mission, 1,000 SC youth will be identified in the next 4 years. Along with the startup ideas through the Technology Business Incubators in various higher educational institutions. 

• The youth will fund Rs. 30 lakhs in 3 years as investment funding. They will help him to translate their startup ideas into commercial ventures.

• If the venture is successful, it will qualify for venture capital funding of up to Rs. 5 Crore. It is done from the VCF-SCs.

Eligibility for support under ASIIM

• The youth who the TBIs(Technology Business Incubators) have identified are eligible for support under ASIIM. 

• The youth who have been awarded under the Smart India Hackathon or Smart India Hardware Hackathon. The Ministry of Education is conducting it.

• The student who provides innovative ideas focusing on the socio-economic development of the society identified in the TBIs.

• The youth whose startups are nominated and supported by corporates through Corporate Social responsibility (CSR) funds.

Search 

What is the aim of the Ambedkar Social Innovation and Incubation mission? Here we discuss the search and selection process of the Ambedkar Social Innovation and Incubation Mission. 

• A potential SC enterpriser must be recognised and informed by TBI. 

• A potential SC enterpriser shall be recognised to avail assistance from VCFSC to pursue their innovative ideas on the recommendation of TBIs.

• A potential enterpriser is working in incubation centres. He can also be identified and informed about other technologies.

Selection 

• TBI selects the startup ideas of SC and SC Divyang. It will be directly selected for incubation. 

• Other applications received from various scheduled castes and Divyang Start-Ups will be taken up according to the fund’s guidelines. 

Motivate youth 

Under the Ambedkar Social Innovation and Incubation mission scheme, the publicity shall be done to seek candidates’ interests. The publicity can be increased by the following method:-.

• Connecting with students on all higher education campuses. 

• Working with industry clusters and associations. 

• Promoting the scheme through social media, television and other media platforms.

• Reaching out and interacting with various technology and management schools.

Significance

The significance of Ambedkar Social Innovation and Incubation mission:-

• The Ambedkar Social Innovation and Incubation mission under VCF-SC will promote innovation in the SC youth. It will help them to become job-givers from job-seekers.

• It will give a fillip to the ‘Stand Up India’ initiative of the Prime Minister. 

What is a Venture Capital Fund for SCs (VCF-SC)?

The Ministry of Social Justice launched the Venture Capital Fund for SCs (VCF-SC) in 2014-15. This fund aims to provide concessional finance to the entities of the SC entrepreneurs. It enables the SC youth and divyang to become ‘job-givers’.

Conclusion

We understand the Key Points of the Ambedkar Social Innovation and Incubation Mission. Also, we learn the importance of the Ambedkar Social Innovation and Incubation Mission. Now, we know what is the aim of the Ambedkar Social Innovation and Incubation Mission. Moreover, the SC are those castes in the country that suffer from extreme social, educational, and economic backwardness. So, they need special consideration. Thus, ASIIM helps SC and economically weaker sections by providing generous funding and incubation facilities. The scheme will help students to pursue innovation and entrepreneurship. Also, they provide a further boost to the Stand Up India programme of the government.