Under this initiative, 1,000 initiatives of SC youth would be identified through a systematic and transparent process in convergence with the Technology Business Incubators and would fund them up to Rs. 30 lakhs in a three year period as equity. The purpose is to encourage the innovative students to take to innovation and entrepreneurship without seeking jobs.
1.SC entrepreneurs who have been identified by the Technology Business Incubators being promoted by Department of Science & Technology.
2.Early stage startups can apply for this funding.
3.Innovative ideas focusing on the socio-economic development of the society identified in the TBIsStudents who have been awarded under the Smart India Hackathon or Smart India Hardware Hackathon being conducted by Ministry of Education.
4.Startup entrepreneurs applying for this funding program should be from scheduled caste community.
Provisions of Equity support
The identified innovative ideas from SC community entrepreneurs by the TBIs would be provided equity assistance under this scheme up to Rs.30 lakhs over a period of 3 years, subject to satisfactory evaluation of the progress by the concerned TBI’s.
Selection Process for Incubation
Startup ideas/proposal submitted under this program will be evaluated by a selection panel at IIMK LIVE and will be recommended for funding to IFCI venture capital funding. Startups finally selected by IFCI venture capital funding will be given incubation at IIMK LIVE.