SSC Selection Post 2022 PYQ — Question 41

The correct answer is option 1 i.e. 2024.

• The Ministry of Social Justice and Empowerment, Government of India has launched an initiative named ‘Ambedkar Social Innovation Incubation Mission (ASIIM)’ with an aim to support (1000) innovative ideas till 2024.
• The "Ambedkar Social Innovation and Incubation Mission (ASIIM)" under the Venture Capital Fund for SCs was launched via video conferencing to foster innovation and entrepreneurship among Scheduled Caste students pursuing higher education.
• The primary objective of this fund is to offer concessional financial support to enterprises owned by Scheduled Caste (SC) entrepreneurs.
• Under this fund, financial assistance has been sanctioned to 117 companies promoted by Scheduled Caste (SC) entrepreneurs for establishing business ventures. As part of the “Ambedkar Social Innovation and Incubation Mission (ASIIM),” 1,000 SC youth with innovative start-up ideas will be identified over the next four years through Technology Business Incubators (TBIs) in various higher educational institutions.
• Each selected start-up will receive equity funding of ₹30 lakhs over a period of three years to help transform their innovative ideas into viable commercial ventures. Start-ups that demonstrate success and scalability may further qualify for venture funding of up to ₹5 crore under the Venture Capital Fund for Scheduled Castes (SCs).