The Government has introduced various Schemes to promote entrepreneurship and innovation amongst Scheduled Castes. The Venture Capital Fund for Scheduled Castes (VCF-SC), with a corpus of Rs. 750 crore, provides concessional finance ranging from Rs. 10 lakh to Rs. 15 crore at a 4% coupon rate. This fund is managed by IFCI Venture Capital Ltd.

Additionally, the Ambedkar Social Innovation and Incubation Mission (ASIIM), supports SC students, researchers, and entrepreneurs in Technology Business Incubators (TBIs) and Atal Incubation Centers (AICs). Under ASIIM, Rs. 30 lakh equity funding is provided over three years to help start-ups in sectors such as agriculture technology, IT, environment, waste management, and green energy. As of now, 245 SC-owned companies have been sanctioned financial assistance of ₹588.4 crore under the Venture Capital Fund for Scheduled Castes, including ASIIM.

Currently, the Government has no plans to establish a Social Innovation Hub to facilitate business ventures and startups for the SC community. However, it continues to promote entrepreneurship and innovation through existing initiatives such as ASIIM and VCF-SC. Additionally, steps have been taken to simplify access to credit through PM SURAJ—a digital interface for all financial inclusion Schemes of the Department of Social Justice & Empowerment and providing mentorship support and market linkages to strengthen the entrepreneurial ecosystem for Scheduled Castes and other marginalized communities.

This information was provided by UNION MINISTER FOR SOCIAL JUSTICE AND EMPOWERMENT, DR. VIRENDRA KUMAR, in a written reply to a question in Rajya Sabha today.

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VM

(Rajya Sabha US Q2197)