Centre to launch schemes for Dalit based startup companies

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The Central Government has come up with an initiative to bring forth the talented minds hidden among the marginalized communities and turn their innovative ideas into a concrete foundation which will work towards the progress of the nation.
The scheme so formed has been called the “Ambedkar Social Innovation Incubation Mission”, which the Centre, along with the social justice and empowerment ministry programme will join hands to support the Dalit entrepreneurs , both financially and technically.
The project is believed to commence this year and will be in action till 2024. Additionally, a total budget of Rs.308.8 crore has been alloted which will be funded through the social justice ministry’s “Venture Capital Fund for SCs” managed by IFCI Venture Capital Fund Limited.
The scheme, apart from promoting the entrepreneurial spirit among the marginalized groups, aims to make them independent and free from social prejudice and discrimination by making them self reliant and able minded, employed citizens of the country.
The scheme will comprise three branches; the first one being a “National Social Innovation Hub” which will look into the government policies pertaining to enterprise establishment and incorporate CSR bodies and social agencies which can provide optimum support and resources. 
 The second branch is called the “Business Incubator Hub” which will take the ideas of the Dalit entrepreneurs into consideration, provide them with financial and technical support for three years and establish a network with premium technology business incubators to nurture those ideas. 
Chartered accountants, digital marketers and legal advisers will be appointed to the entrepreneurs to accomplish the third and the final aspect of the scheme which is the commercial launch of the startup company. 
“The ideas that will turn into potential business enterprises will be provided sufficient funding through angel investors, commercial banks and Venture Capital Funding for SCs , which is currently serving as an initiative to fund Dalit businesses” R Subramaniyam secratary for the Social Justice and Empowerment Ministry said in a statement.

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