The "Ambedkar Social Innovation and Incubation Mission (ASIIM)" was started by the Ministry of Social Justice & Empowerment under the Venture Capital Fund for Scheduled Castes (SCs) in order to encourage innovation and enterprise among SC students enrolled in postsecondary institutions.
Major Objectives of the Mission:
- Encouraging youth in the SC to start their own businesses, giving preference to Divyangs.
- The aim is to provide support for one thousand creative ideas till 2024 by collaborating with the Department of Science and Technology's Technology Business Incubators (TBIs).
Executed by: The Venture Capital Fund for SCs (VCF-SCs), established in 2015–16 with a Rs. 500 Crore fund. 117 firms that have been supported by SC business owners have been approved to receive funding under this fund in order to launch their operations.
Read: Pradhan Mantri Vishwakarma Kaushal Samman Yojana
Features of ASIIM:
- Over the course of the next four years, 1,000 young people from SC will be recognised with start-up ideas by means of Technology Business Incubators (TBIs) at various higher education institutions.
- In order to help them turn their start-up ideas into profitable companies, they would receive equity (investment) money totaling Rs. 30 lakhs over the course of three years.
- Businesses that are successful will also be eligible for venture capital funding from the VCF-SCs up to Rs. 5 crore.
- Venture capital refers to a type of private equity where investors lend money to start-ups and small firms that they think have the potential to expand significantly over the long run.
Eligibility of ASIIM:
- Young people who have been identified as having TBIs.
- The Ministry of Education has recognised students who participated in the Smart India Hardware Hackathon or Smart India Hackathon.
- Original concepts centred on the socioeconomic growth of the community mentioned in the TBIs.
- Startups that businesses nominate and sponsor through their Corporate Social Responsibility (CSR) funds.
- ASIIM, a division of VCF-SC, will foster innovation in young people in the state and assist them in transitioning from job searchers to employers.
Frequently Asked Questions (FAQ)
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| Frequently Asked Questions (FAQ) - Ambedkar Social Innovation and Incubation Mission |
1. What is the Ambedkar Social Innovation and Incubation Mission (ASIIM)?
The Ambedkar Social Innovation and Incubation Mission is an initiative aimed at promoting social innovation and entrepreneurship, especially focusing on solutions for social challenges in India.
2. When was ASIIM launched, and by whom?
The specific launch date may vary, but ASIIM was conceptualized as part of efforts to commemorate the vision of Dr. B.R. Ambedkar. The mission is typically launched by government agencies or organizations involved in social development.
3. What is the primary objective of ASIIM?
The primary objective of ASIIM is to foster social innovation and entrepreneurship that addresses various social challenges in the country. It aims to empower individuals and communities through innovative solutions.
4. How does ASIIM support social innovation and entrepreneurship?
ASIIM supports social innovation and entrepreneurship through various means, including providing funding, mentorship, training, and incubation support for individuals and organizations working on innovative solutions to social issues.
5. Who can apply for support under ASIIM?
Eligibility criteria may vary, but typically, individuals, startups, and organizations with innovative ideas or projects addressing social challenges can apply for support under ASIIM.
6. What areas or sectors does ASIIM focus on for social innovation?
ASIIM may focus on a wide range of sectors, including but not limited to healthcare, education, agriculture, sustainable development, technology for social impact, and community development.
7. Is ASIIM open to applicants from all regions of India?
Yes, ASIIM is generally open to applicants from all regions of India. The mission aims to promote inclusivity and encourage innovative solutions from various parts of the country.
8. What types of support does ASIIM provide to selected innovators?
ASIIM provides a range of support, including financial assistance, mentorship, access to networks, training programs, and incubation facilities to help innovators develop and scale their social impact initiatives.
9. How can individuals or organizations apply for support under ASIIM?
The application process may involve submitting proposals or participating in specific calls for applications. Details on how to apply are typically available through official channels, including the ASIIM website or partnering organizations.
10. Are there specific focus areas within social innovation that ASIIM prioritizes?
ASIIM may have specific focus areas or themes based on the prevalent social challenges. These are usually outlined in the official communications or guidelines provided by the implementing agencies.
11. What is the envisioned impact of ASIIM on society?
ASIIM aims to create a positive social impact by nurturing and supporting innovative solutions that address pressing social challenges, contributing to the overall development and well-being of communities in India.
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