Ambedkar Social Innovation and Incubation Mission 2026: ₹30 Lakh Equity Support for SC Startups

At a glance

About the scheme

The Ambedkar Social Innovation and Incubation Mission (ASIIM) was launched by the Department of Social Justice and Empowerment to support innovation and entrepreneurship among Scheduled Caste youth in higher educational institutions. Implemented by the Venture Capital Fund for Scheduled Castes (VCF-SC), the initiative partners with Technology Business Incubators (TBIs) to provide equity financing, mentoring, and technical infrastructure to transform promising ideas into commercial businesses.

Benefits

• Equity assistance of up to ₹30,00,000 disbursed at ₹10,00,000 per year over a 3-year period.
• Funding covers expenses for TBI accommodation, hardware, software, fellowship, travel, marketing, intellectual property (IP) filing, tool-room costs, and co-workers.
• Capital infused via Equity, Optionally Convertible Preference Shares (OCPS), or Compulsorily Convertible Preference Shares (CCPS) with a tenure of 10 years from first disbursement.
• Share conversion to equity is capped at a maximum of 49% stake and happens only after 3 years.
• Mentoring, guidance, and hand-holding support provided by the Venture Capital Fund for Scheduled Castes (VCF-SC).
• Qualifying successful ventures can receive venture capital funding up to ₹15,00,00,000 from VCF-SC.

Who can apply (eligibility)

• The applicant must be a youth belonging to the Scheduled Caste (SC) or Scheduled Caste Divyang category.
• Youth identified for incubation by TBIs, Atal Incubation Centers (AICs), Technology/Industrial Parks, or STPI promoted by DST or other Government of India bodies.
• Youth identified for incubation by reputed private Technology Business Incubators (TBIs).
• Students awarded under the Smart India Hackathon or Smart India Hardware Hackathon organized by the Ministry of Education.
• Startups with innovative ideas focused on socio-economic development identified within public or private TBIs.
• Startups nominated and supported by corporate entities through Corporate Social Responsibility (CSR) funds.
• The recipient business must be incorporated as a Private Limited or Public Limited company prior to disbursement.
• The Scheduled Caste entrepreneur must retain at least 51% shareholding and management control throughout the tenure of ASIIM assistance.

Who cannot apply

• Investments in negative sectors as designated under Reserve Bank of India (RBI) guidelines are not eligible.
• Individuals belonging to Scheduled Tribes (ST), Other Backward Classes (OBC), or General categories are not eligible.
• Entities operating as Proprietary Firms, Partnerships, OPCs, or LLPs that do not convert to a Private Limited or Public Limited company cannot receive funds.

Documents required

• Proof of Scheduled Caste (SC) or SC Divyang status.
• Company incorporation documents (Private Limited or Public Limited company certificate).
• Shareholding pattern document verifying at least 51% SC shareholding and management control.
• Proof of selection or identification by recognized TBIs, AICs, STPI, reputed private TBIs, or CSR-supported corporate nominations.
• Proof of award under Smart India Hackathon or Smart India Hardware Hackathon (if applicable).
• Project or proposal document outlining the innovative idea focused on socio-economic development.

How to apply

1. 1Visit the official VCF-SC online application portal at vcfsc.in/asiim/Venture-Capital-Fund-for-Scheduled-Castes.aspx.
2. 2Click on Create an Account and complete the registration by entering the required details and verifying your credentials.
3. 3Log in using your registered credentials and navigate to the ASIIM scheme application form.
4. 4Fill in all mandatory personal, project, and company fields accurately.
5. 5Upload the required supporting documents in the specified format and file sizes.
6. 6Review your submitted details, accept the terms and declarations, and click Submit to complete the application.

Frequently asked questions