On the recommendations in the presentation of the Group of Secretaries (GoS) on education and social development made before the Hon’ble Prime Minister under the head ‘Affirmative Action’ on 13.01.2017 and subsequent decision in the EFC meeting held on 12.05.2021 for the introduction of the Scheme of Venture Capital Fund for Scheduled Tribes (VCF-ST), the scheme for Venture Capital Fund for Scheduled Tribes (VCF-ST) was introduced.
VCF-ST will have the following objectives:
a) To promote entrepreneurship among the Scheduled Tribes through provision of concessional finance to them
b) To support innovative ideas through the Technology Business Incubators (TBIs) set up by Department of Science and Technology and other Departments/Ministries/Institutions.
c) To support, promote, hand-hold the start-up ideas till they reach commercial stage by providing equity and/or credit support.
d) To promote financial inclusion amongst ST entrepreneurs and to motivate them for further growth of the ST communities.