Centre to launch fund to support SC entrepreneurs

Each entrepreneur from Scheduled Castes can borrow from the fund a minimum of Rs 50 lakh and a maximum of Rs 15 crore. The money will be equity linked debt in the business.

Realising that the number of entrepreneurs from the category is low, the ministry estimates around 50 beneficiaries in the first year. Meanwhile, the IFCI will explore the option of getting other agencies to contribute to the kitty and expand the fund’s beneficiary base.
“Traditionally, the Scheduled Castes have not seen too many business owners emerging from within its community. It could be because of lack of opportunities or because they mostly prefer getting employed rather than becoming employers,” said a senior government official. “The idea behind the fund is to influence a change in that,” he added.

The fund will also be open to promising startups, especially in the technology sectors. In the private sector, new collective entities like Dalit Chamber of Commerce have been seeking greater government support to SC communities in nurturing entrepreneurship.