As the Narendra Modi Government completes nine years in office, Akashvani News is bringing a series of special stories on the initiatives taken by the Government. Today, we take a look at Ambedkar Social Innovation and Incubation Mission.<br />”<br />”Ambedkar Social Innovation and Incubation Mission (ASIIM) launched in the year 2020 by Ministry of Social Justice &amp; Empowerment is a flagship scheme to promote innovation and entrepreneurship skills among youths of Scheduled Castes (SCs). The scheme envisioned by Prime Minister Narendra Modi is today supporting more than 1000 innovative ideas every year till 2024 preparing a pool of over 6000 Scheduled Caste young entrepreneurs with special preference given to Divyangs. ASIIM has been designed to empower innovative ideas, provide synergetic work with Technology Business Incubators (TBIs) and help translate start-up ideas into commercial ventures by providing equity funding through Venture Capital Fund. The VC Fund set up for the scheduled castes with a fund size of Rs 500 crores aims at providing sanctioned financial assistance to set up business ventures by young entrepreneurs who are further promoted by 117 private companies. ASIIM will help the selected young entrepreneurs to become job-givers. It would further give fillip to the ‘Stand Up India and Skill India’ initiative of Prime Minister Narendra Modi.<br />”<br />”Youths selected under ASIIM will be funded up to Rs. 30 lakhs in 3 years as equity investment funding based upon their innovative idea. Successful ventures under this scheme would further qualify for venture capital funding of up to Rs. 5 Crore. Startup companies and small businesses that are believed to have long-term growth potential will hence be empowered with mentorship, incubation and equity based financial assistance focusing upon the socio-economic development of the country. ASIIM will boost the economy and also help achieve the mission of Atmanirbhar Bharat in true sense.<br />