The Ambedkar Social Innovation & Incubation Mission (ASIIM) is a government-led initiative in India, designed to boost social entrepreneurship. It provides financial, infrastructural, and mentorship support to startups, particularly those from marginalised communities. The scheme seeks to stimulate the startup ecosystem, promoting innovation and job creation, while fostering socio-economic development.
Introduction
The Ambedkar Social Innovation & Incubation Mission (ASIIM) is a programme started by the Indian government. Its goal is to help grow businesses that want to improve society. It provides help and resources to these startups to help them succeed.
Primary Objectives of ASIIM
The Ambedkar Social Innovation & Incubation Mission is driven by multiple objectives. They are designed with the vision to strengthen the social entrepreneurship ecosystem in India.
Boosting Social Innovation:
ASIIM’s main goal is to encourage social innovation. It plans to do this by promoting enterprises that aim to solve societal problems.
Stimulating Startup Ecosystem:
ASIIM aims to invigorate the startup ecosystem in India. The idea is to support startups with resources to make their journey smoother.
Promoting Entrepreneurship among the Marginalised:
What makes ASIIM special is that it helps people from less advantaged groups to start their own businesses. ASIIM gives these people money help and other kinds of support. This way, ASIIM hopes to make their lives better and help them earn more money.
Creating Jobs:
Lastly, by stimulating the growth of social enterprises, ASIIM aims to create new job opportunities. These jobs can play a key role in improving the economic conditions of many communities in India.
Important Features of ASIIM
ASIIM is a comprehensive program with several important features.
Financial Assistance:
ASIIM provides financial assistance to startups. This funding helps entrepreneurs to overcome financial barriers. Also, allow them to focus on their innovative ideas.
Mentorship:
ASIIM offers mentorship programs. Experienced mentors guide startups through their journey, providing them with invaluable insights and advice.
Training:
ASIIM also provides entrepreneurship training. This training helps budding entrepreneurs to understand the intricacies of running a business.
Infrastructure Support:
ASIIM provides startups with the necessary infrastructure like office space and technical support. This eliminates major costs and allows startups to concentrate on their core mission.
Eligibility Criteria to Apply for ASIIM
- TBIs, made by the Department of Science & Technology, find out who gets help.
- SC students chosen by private TBIs can be part of this plan.
- Prize winners of Smart India Hackathons are allowed to join.
- Start-ups getting help from companies or named for help can join.
- Students with ideas to help society, found in TBIs, can get help from the plan.
How to Apply for Ambedkar Social Innovation and Incubation Mission Online?
Applying for ASIIM is a simple process that can be completed online.
Visit the Official ASIIM Website: The first step is to visit the official ASIIM website.
Find the Application Form: On the website, find the ASIIM application form.
Fill in the Application Form: Fill in the application form with accurate details. You need to provide information about your startup, its social impact, and its current status.
Submit the Application Form: After you’ve filled in the form, submit it online. Make sure you’ve checked all the details before submitting.
Important Documents Required for ASIIM Application
To apply for ASIIM, startups need to provide certain documents.
- AOA (Article of Association) and MOA (Memorandum of Association) are papers that tell about the company.
- A document that shows the founders belong to the scheduled caste.
- KYC documents are needed. This includes the founder’s PAN card, Aadhaar card, and 2 recent photos.
- Tax papers of the company for the last 3 years.
- A report of the company’s activities for the last 3 years.
- A paper from a CA showing the company’s shareholding structure and net worth of founders.
- A letter of approval from the current bank.
- A detailed report of a project and its TEV (Techno Economical Viability) if available.
- How the company plans to earn money.
- A paper from an Incubation centre showing you are part of it.
- Copyright papers for patents under SC entrepreneurs.
- Papers showing any help received from the Indian government, if applicable.
Submit these papers with your application number to this address:
IFCI Venture Capital Funds Limited (Investment Manager – Venture Capital fund for Scheduled Castes) IFCI Tower, 16th floor, 61 Nehru Place, New Delhi- 110019.
| ASIIM plans to help 1000 start-ups run by SC entrepreneurs in 4 years (2020-24). The goal is to make the young SC people job-givers not job-seekers. This will also support the Stand Up India initiative. So, if you can benefit from this, use this scheme. Don’t forget to keep your papers ready when you apply. |
FAQs
When did the ASIIM launch?
ASIIM was launched by the Indian government in the year 2015. Its primary aim is to stimulate the growth of social enterprises in the country.
What is the selection process of ASIIM?
The selection process of ASIIM is quite straightforward. After the application is submitted, it is reviewed by a panel of experts. These experts evaluate the startup based on its social impact, feasibility, scalability, and financial projections. Based on this evaluation, the startup is either selected or rejected.
What is the processing time of applications submitted under ASIIM?
The processing time of applications under ASIIM can vary. However, generally, it takes about 2-3 months from the date of application submission. The exact time can differ based on various factors, including the number of applications received and the complexity of the evaluation process.
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