Venture Capital Fund Scheme for Scheduled Caste (SC) was launched by Ministry of Social Justice and Empowerment in 2014-15 to help SC entrepreneurs achieve their potential and achieving economic empowerment. It was started with initial capital of Rs. 200 crore and IFCI Ltd. will act as Sponsor, Settler and Asset Management Company (AMC) / Nodal Agency to operate the scheme.
Objectives of the scheme
- It is social sector initiative to be implemented nationally in promote entrepreneurship among SC population in India
- Promote entrepreneurship among Scheduled Caste who are oriented towards innovation and growth technologies
- To provide concessional finance to Scheduled Caste entrepreneurs who will create wealth and value for society.
- To promote financial inclusion for Scheduled Caste entrepreneurs and to motivate them for further growth of SC communities
- To enhance direct and indirect employment generation for SC community in India
Under the scheme, financial assistance upto Rs.15.00 Crore for a period upto 6 years would be provided to the SC entrepreneurs.
References
http://pib.nic.in/newsite/PrintRelease.aspx?relid=114716