Sarkari Yojana
Ambedkar Social Innovation and Incubation Mission (ASIIM)
About Ambedkar Social Innovation and Incubation Mission (ASIIM)
Launched on 30 September 2020 by the Department of Social Justice and Empowerment, Ministry of Social Justice and Empowerment, Government of India, the Ambedkar Social Innovation and Incubation Mission encourages innovation and enterprise among Scheduled Caste students in higher education, with a target of backing 1,000 innovative ideas in partnership with Technology Business Incubators (TBIs) set up by the Department of Science and Technology (DST). It gives young Scheduled Caste entrepreneurs equity support to turn their start-up ideas into commercial businesses, with promising ventures going on to qualify for venture funding. The Venture Capital Fund for Scheduled Castes (VCF-SC) implements the scheme, and applications are accepted online.
Scheme Overview
Central Government
Ministry Of Social Justice and Empowerment
Scheme Details
Eligibility Requirements
To qualify for Ambedkar Social Innovation and Incubation Mission (ASIIM), applicants must satisfy the following conditions:
SC and SC Divyang youth qualify for ASIIM support under the following pathways:
Youth identified by TBIs, Atal Incubation Centres (AICs),…
Youth identified by TBIs, Atal Incubation Centres (AICs), Technology/Industrial Parks, or Science and Technology Parks of India (STPI), whether promoted by the Department of Science & Technology or otherwise, and other government-backed incubation centres.
Youth identified for incubation by reputed private TBIs
Youth identified for incubation by reputed private TBIs.
Students recognised under the Smart India Hackathon or…
Students recognised under the Smart India Hackathon or Smart India Hardware Hackathon, run by the Ministry of Education.
Innovative ideas centred on society's socio-economic development, spotted…
Innovative ideas centred on society's socio-economic development, spotted by TBIs in the public or private sector.
Start-ups nominated and backed by corporates through their…
Start-ups nominated and backed by corporates through their CSR funds.
Benefits Provided
Ambedkar Social Innovation and Incubation Mission (ASIIM) provides the following benefits to eligible applicants:
Equity assistance of up to ₹30,00,000/- spread over…
Equity assistance of up to ₹30,00,000/- spread over 3 years for promising ideas from Scheduled Caste students at Technology Business Incubators (TBIs).
This covers costs like TBI accommodation, hardware, software,…
This covers costs like TBI accommodation, hardware, software, fellowships, travel and marketing, IP filing, tool-room expenses, and co-worker costs.
Ventures that succeed can go on to access…
Ventures that succeed can go on to access venture funding of up to ₹15,00,00,000/- from the Venture Capital Fund for Scheduled Castes (VCF-SC).
VCF-SC also provides hand-holding, guidance, and mentoring throughout
VCF-SC also provides hand-holding, guidance, and mentoring throughout. Disbursement Details
The ₹30,00,000/- cap is paid out as ₹10,00,000/-…
The ₹30,00,000/- cap is paid out as ₹10,00,000/- per year across 3 years.
Funds are infused as Equity, Optionally Convertible Preference…
Funds are infused as Equity, Optionally Convertible Preference Shares (OCPS), or Compulsorily Convertible Preference Shares (CCPS).
Financial assistance under ASIIM runs for 10 years…
Financial assistance under ASIIM runs for 10 years from the date of first disbursement. Conditions
Equity assistance depends on the concerned TBI evaluating…
Equity assistance depends on the concerned TBI evaluating progress satisfactorily.
Financial assistance goes to the entities/companies these young…
Financial assistance goes to the entities/companies these young Scheduled Caste entrepreneurs have set up.
Selected participants must form, or already have, a…
Selected participants must form, or already have, a private or public limited company where the Scheduled Caste entrepreneur owns at least 51% of the shares.
Entrepreneurs must cover the costs of incorporating their…
Entrepreneurs must cover the costs of incorporating their company during the 3-year incubation period.
The 51% Scheduled Caste shareholding and management control…
The 51% Scheduled Caste shareholding and management control must be maintained for as long as ASIIM assistance remains with the company.
Converting the funding shares into equity is capped…
Converting the funding shares into equity is capped at a 49% stake and happens only after 3 years, varying case by case.
Proprietary firms, partnership firms, One Person Companies (OPCs),…
Proprietary firms, partnership firms, One Person Companies (OPCs), LLPs, or any other legally established entity must convert into a Private or Public Limited company before receiving assistance from the fund.
Documents Required
Applicants should keep the following documents ready before starting the application:
Proof of Scheduled Caste or Scheduled Caste Divyang…
Proof of Scheduled Caste or Scheduled Caste Divyang status (to confirm eligibility)
Company incorporation documents, Private or Public Limited (required…
Company incorporation documents, Private or Public Limited (required before disbursement)
Shareholding pattern document, proving at least 51% Scheduled…
Shareholding pattern document, proving at least 51% Scheduled Caste shareholding and management control (required before disbursement, and maintained afterward)
Proof of identification/selection by TBIs, AICs, Technology/Industrial Parks,…
Proof of identification/selection by TBIs, AICs, Technology/Industrial Parks, STPI, reputed private TBIs, or corporates via CSR funds (to establish the eligibility pathway)
Proof of award under the Smart India Hackathon…
Proof of award under the Smart India Hackathon or Smart India Hardware Hackathon (if applicable)
Proposal/project document for the innovative idea targeting socio-economic…
Proposal/project document for the innovative idea targeting socio-economic development (if applicable)
How to Apply
Online Application
Applicants can apply for Ambedkar Social Innovation and Incubation Mission (ASIIM) through the online application process outlined below.
Registration Go to the official online application link and click "Create an Account." You'll be taken to the registration page — fill in all mandatory fields to register. Verify your email ID and mobile number via OTP if asked. If prompted to set a password, make sure it meets the security requirements. Application
Return to the official online application link, log…
Return to the official online application link, log in with your registration credentials, and open the online form for the scheme you want to apply for.
Fill in all mandatory fields and upload the…
Fill in all mandatory fields and upload the required documents in the specified format and size. Review everything carefully and make corrections as needed.
Tick the box to accept the terms and…
Tick the box to accept the terms and conditions, declaration, and privacy policy (if any), then click "Submit." You'll get a confirmation message. Post-Application Processes
Recommendation and Submission of Proposals - TBIs set…
Recommendation and Submission of Proposals
TBIs set up under the Department of Science and Technology are contacted to recommend promising young Scheduled Caste entrepreneurs for support.
Other technology and management schools are similarly contacted to recommend entrepreneurs working in their incubation centres.
Applications and proposals received directly from Scheduled Caste and Scheduled Caste Divyang start-ups are also taken up per the fund's guidelines.
Selection and Automatic Incubation - Start-up ideas from…
Selection and Automatic Incubation
Start-up ideas from SC/SC Divyang students already selected by TBIs are automatically taken up for incubation under ASIIM.
Company Formation and Compliance - Selected participants not…
Company Formation and Compliance
Selected participants not yet incorporated must convert their proprietary firm, partnership, OPC, LLP, or other structure into a Private or Public Limited company before receiving assistance.
The resulting company must ensure the Scheduled Caste entrepreneur holds at least 51% shareholding and management control, sustained for as long as ASIIM assistance stays with the company.
Fund Disbursement and Monitoring
Financial assistance — as equity, OCPS, or CCPS — is released to the companies these young Scheduled Caste entrepreneurs have set up.
Releasing the ₹30,00,000/- (₹10,00,000/- a year over 3 years) depends on the concerned TBI's satisfactory evaluation of progress.
Grievance Redressal / Help & Support
The Investment Manager, IFCI Venture Capital Funds Limited, can be reached at: 16th Floor, IFCI Tower, 61, Nehru Place, New Delhi – 110019.
Phone: 011-4173 2507/09/18/67/70/76/81/82/90 or 011-26453359/46/19/43.
Email queries about ASIIM to asiim@ifciventure.com.
A dedicated Grievance Redressal portal is also available.
Exclusions / Who Is Not Eligible
Investments in negative sectors as per the Reserve Bank of India (RBI) guidelines are not eligible under this fund.
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.