Venture capital fund for scheduled castes
Economic empowerment
Finance
Ministry of Social Justice and Empowerment
A first of its kind Venture Capital Fund launched by Ministry of Social Justice and Empowerment, Government of India to promote entrepreneurship in India among the Scheduled Castes by providing concessional finance to them.INR 160 crore reserved for year 2019-2020
A Social Sector initiative to be implemented nationally to promote entrepreneurship amongst scheduled caste population, who are oriented towards innovation and growth technologies;Aimed at providing concessional finance to SC entrepreneurs, who will create wealth and value for society and at the same time will promote profitable businesses;The assets so created will also create forward/ backward linkage, as well as create chain effect in the locality;To increase financial inclusion for SC entrepreneurs and to motivate them for further growth of SC communities;To enhance direct and indirect employment generation for SC population in India.
30% of the beneficiaries assisted under the fund should preferably be women* and/or Disabled** SC entrepreneurs, holding atleast 51% of the shareholding in the company. For considering a company owned by a SC women entrepreneur, the SC women entrepreneur should hold atleast 51% of the shareholding in the company and should be the Managing Director of the Company
Department of social justice and empowerment
n.a.
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IFCI VENTURE CAPITAL FUNDS LIMITED IFCI Tower, 16th Floor, 61 Nehru Place New Delhi - 110 019 > DEPARTMENT OF SOCIAL JUSTICE AND EMPOWERMENT, GOVERNMENT OF INDIA, SHASTRI BHAWAN, NEW DELHI 110001
funds@ifciventure.com
011-26444932, 26453319
011-26453348