Scholorship to Entrepreneurs belonging to Scheduled Caste to promote Entrepreneurship among them
Operated by
Ministry of Social Justice and Empowerment - Department of Social Justice and Empowerment, Central Govt.
Purpose
Scholorship to Entrepreneurs belonging to Scheduled Caste (SC) to promote Entrepreneurship among them
Probable duration
-
Eligibility
- Should be a Scheduled Caste (SC) Entrepreneur
- The projects/units being set up in manufacturing and services sector ensuring asset creation out of the funds deployed in the unit shall be considered
- While selecting the SC entrepreneurs, women SC entrepreneurs would be preferred
- Companies having at least 60% stake holding by Scheduled Caste (SC) entrepreneurs for the past 12 months with management control
- Documentary proofs of being SC will have to be submitted by the entrepreneurs at the time of submitting the proposals For more details about eigibility refer page 8 of the below link http://www.ifciventure.com/pages/by4hm8ur/90/Download-Boucher-of-VENTURE-CAPITAL-FUND-FOR-Scheduled-CASTES-in-English.pdf
Benefit Description
To promote entrepreneurship among the Scheduled Caste (SC) population in India by providing concessional finance
Application process
Not Known
Other Details
Conditions if Any
- Investment under the fund will be categorised as follows:
- Financial assistance up to Rs 5 Crore - Investment under this category shall be funded maximum up to 75% of the project cost and the balance 25% of the project cost will be funded by the promoters;
- Financial assistance above Rs.5 Crore ? Investment under this category shall be funded maximum up to 50% of the project cost. At least 25% of the project cost has to be financed by bank/other institutions. Balance 25% of the project cost will be funded by the promoters.
- The proposals forwarded by Banks or other financial institutions with sanction of 25% of the total project shall be considered. In this case, the projects shall have to be compulsorily appraised by the Banks or other financial institutions.