ASIIM 3rd Call is Open
Application Open till 20th March, 2023
Ambedkar Social Innovation
Incubation Mission (ASIIM)
Funding Opportunity for Scheduled Caste Entrepreneurs
Supported by Ministry of Social Justice and Empowerment (MoSJ&E),
Govt of India Initiative under Venture Capital Fund for SCs
As equity
About ASIIM Scheme
The objective of this initiative is to provide focused support to young SC entrepreneurs who are engaged in working on innovative and technology-oriented business ideas either in educational campuses or Technology Business Incubators (TBIs), to help them setup successful commercial enterprises.
Launched by Ministry of Social Justice and Empowerment (MoSJ&E), Govt of India
Under IFCI Venture Capital Fund for SCs (VCF-SC)
- Funding Support
- Selected startups will be funded upto INR 30 lakhs in 3 years as equity funding.
- Successful ventures would further qualify for venture funding of up to Rs. 5 Crore from the Venture Capital Fund for SCs.
Eligibility Criteria
The eligibility criteria for sending proposals for seeking assistance under ASIIM initiative is as follows:
- The SC entrepreneur must be an Indian Citizen and the lead founder of the start-up.
- 51% shareholding majority must be an SC candidate
- The start-up should be working towards innovation/ improvement of existing products, services and processes and should have the potential to generate employment/ create wealth.
- Post selection, the start-up should get incubated at KIIT-TBI.
- Preference will be given to Startup India registered start-ups but not mandatory.
Selection Process
- Online application
- Screening by KIIT-TBI
- One on one mentoring
- Online application on ASIIM portal
- Documentation process
- Documents submission
- 1st round Review of the documents by IFCI
- 2nd round review of hardcopies of the documents in Delhi
- Signing of SHA shared by IFCI and submission of disbursement letter
- Release of 1st tranche
Orientation Session
Call Timeline
Call for Applications
1 Month
Screening & Evaluation
15 Days
Monitoring & Facilitation
2 Months
Release of first tranche
15 Days
Supported Startups
Call 1
Lahre Spectrum Pvt Ltd
Founder: Ramlal Lahre
Net 4 U Pvt Ltd
Founder: Sadhuram Chatriya
H2M Food & Beverages Pvt Ltd
Founder: Santosh Khemendu
Advance Design & Analysis Solutions Pvt Ltd
Founder: Chittaranjan Sethi
AI Pvt Ltd
Founder: Satyabrata Jena
SMPS Electric Control Pvt Ltd
Founder: Subhakanta
Aether Innovation Pvt Ltd
Founder: Satyabrata Jena
Crop Defender
Founder: Sumit Kumar Jatwar
UNXG Technologies Pvt Ltd
Founder: Deepak Ranjan Sethi
Coshal Unfolding Artistry Pvt Ltd
Founder: Ankesh Banjare
AmbulanceCo.
Founder: Ankan Biswas
BlackX
Founder: Abhishek D
DocBot
Founder: Mandar kamble /Ronit Nandeshwar
Call 2
Amahir Paints and Chemicals Pvt. Ltd.
Founder: Dr. Satya Prakash Verma
VERTOX LABS PRIVATE LIMITED
Founder: Gouri Shankar Behira
Yogita Framing
Founder: Deepak Kumar
Frequently Asked Questions
Provision for Equity Support
- The identified innovative ideas from SC students in the TBIs would be provided equity assistance towards TBI accommodation cost, Hardware, Software, Fellowship, Travel and marketing, IP filing, Tool-room expenses, Co-workers etc.
- During the incubation period of 3 years, the entrepreneurs shall not be insisted for any financial contribution except the expenses required for forming a company which would be borne by the entrepreneurs or TBIs. Financial assistance to these initiatives shall be released to the Companies
promoted by these young SC entrepreneurs.
Documents to be Uploaded
- SC Certificate
- Latest Resume
- Pitch Deck
Funding Heads
- TBI Accommodation Cost
- Hardware
- Software
- Fellowship
- Travel and Marketing
- IP filing
- Tool room expenses
- Coworkers (1) @ Rs 20,000/month
We aim to support, promote, hand-hold the start-up ideas of SC youths till they reach the commercial stage by providing liberal equity support.
Contact Us: [email protected]