Central Govt Business & EntrepreneurshipSkills & Employment

Ambedkar Social Innovation and Incubation Mission (ASIIM)

Ambedkar Social Innovation and Incubation Mission (ASIIM) provides equity support up to ₹30 lakh over 3 years to SC students and SC differently-abled youth whose innovative ideas are selected by Technology Business Incubators (TBIs) or Atal Incubation Centres.

Department of Social Justice & Empowerment For: Individual Official Source

About This Scheme

Full official description

The scheme "Ambedkar Social Innovation and Incubation Mission" was launched on 30th September 2020, by the Department of Social Justice and Empowerment, Ministry of Social Justice and Empowerment, Government of India. The scheme aims to promote innovation and enterprise in Scheduled Caste students studying in higher educational institutions and to support 1,000 innovative ideas through synergistic work with the Technology Business Incubators (TBIs) set up by the Department of Science and Technology (DST). The scheme provides equity support to young Scheduled Caste entrepreneurs so they can translate their start-up ideas into commercial ventures, with successful ventures potentially qualifying for venture funding. The scheme is implemented by the Venture Capital Fund for Scheduled Castes (VCF-SC). The applications are accepted online.

Benefits

Equity assistance: Up to ₹30,00,000 over 3 years
Covers: TBI hosting costs, prototype development, IP filing, mentoring, market research
No loan repayment — equity-based support, not a loan
Goal: Transform innovative ideas into tech startups

Who Can Apply (Eligibility)

SC or SC Divyang (differently-abled) youth whose innovative idea has been identified and selected by a TBI, Atal Incubation Centre, or similar recognised incubator.

Exclusions

Investments in negative sectors as per the Reserve Bank of India (RBI) guidelines are not eligible under this fund.

How to Apply

Online

Registration

Navigate to the official link for online application. Click on "Create an Account". You will be taken to the registration page. Fill in all the mandatory fields and register. *If required, verify your Email ID and Mobile Number via OTP. *If you are prompted to create a password, ensure the password meets security requirements.

Application

Step 1: Navigate to the official link for online application. Use the credentials you created during registration to log in. Navigate to the online form of the scheme you intend to apply for. Step 2: In the form, fill in all the mandatory fields and upload all the mandatory documents in the specified format and size. Carefully review all the information provided and the documents uploaded. Make any necessary corrections. Step 3: Acknowledge and agree to the terms and conditions, declaration, and privacy policy (if any) by ticking the designated checkbox. Click "Submit" to submit your application. You'll receive a confirmation message.

Post-Application Processes

Step 1:**** Recommendation and Submission of Proposals

To identify potential entrepreneurs, Technology Business Incubators (TBIs) (set up under the aegis of the Department of Science and Technology) shall be contacted and informed to recommend potential young Scheduled Caste entrepreneurs for assistance.
Other Technology and Management Schools shall also be contacted and informed for the purpose of recommending potential young entrepreneurs working in their Incubation Centres.
Other applications/proposals received directly from various Scheduled Castes and Scheduled Caste Divyang Start-ups will also be taken up as per the guidelines of the fund.

Step 2:**** Selection and Automatic Incubation

The start-up ideas presented by Scheduled Caste (SC)/Scheduled Caste Divyang students that have been selected by the Technology Business Incubators (TBIs) will be automatically selected for incubation under the Ambedkar Social Innovation and Incubation Mission (ASIIM).

Step 3:**** Company Formation and Compliance

Prior to receiving assistance, selected participants who are not already incorporated must convert their Proprietary Firms, Partnership Firms, One Person Company (OPC), Limited Liability Partnerships (LLPs), or other establishments into a Private Limited or Public Limited company.
The incorporated company must ensure that the Scheduled Caste entrepreneur maintains at least a 51% shareholding, along with management control, which must be sustained until the assistance under the Ambedkar Social Innovation and Incubation Mission (ASIIM) remains in the company.

Fund Disbursement and Monitoring

Financial assistance, provided as equity, Optionally Convertible Preference Shares (OCPS), or Compulsorily Convertible Preference Shares (CCPS), shall be released to the Companies promoted by these young Scheduled Caste entrepreneurs.
The disbursement of equity assistance, which totals ₹30,00,000/- over 3 years (₹10,00,000/- annually), is contingent upon the satisfactory evaluation of the progress by the concerned Technology Business Incubator (TBI).

Grievance Redressal / Help & Support

Official contact details for the Investment Manager, IFCI Venture Capital Funds Limited, are provided: 16th Floor, IFCI Tower, 61, Nehru Place, New Delhi – 110019.
Applicants can call 011 - 4173 2507/09/18/67/70/76/81/82/90 or 011 - 26453359/46/19/43.
The official email address for queries regarding the Ambedkar Social Innovation and Incubation Mission (ASIIM) is asiim@ifciventure.com.
Additionally, a Grievance Redressal portal is available.

Frequently Asked 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.

Ready to apply?

Visit the official government portal to apply for this scheme.

Apply on myScheme.gov.in

Documents Required

Proof Of Scheduled Caste Status Or Scheduled Caste Divyang Status (To Validate Eligibility).
Company Incorporation Documents (Private Limited Or Public Limited Company) (Required Before Disbursement).
Shareholding Pattern Document (To Prove At Least 51% Scheduled Caste Shareholding And Management Control) (Required Before Disbursement And Maintained Thereafter).
Proof Of Identification/Selection By Technology Business Incubators (TBIs) / Atal Incubation Centers (AICs) / Technology / Industrial Parks / Science And Technology Parks Of India (STPI) / Reputed Private TBIs / Corporates Through Corporate Social Responsibility Funds (To Validate Eligibility Pathway).
Proof Of Award Under Smart India Hackathon Or Smart India Hardware Hackathon (If Applicable).
Proposal/Project Document For Innovative Idea Focusing On Socio-Economic Development (If Applicable).