SSSCSTSSSU

The scheme aims to provide opportunities for Scheduled Caste/Scheduled Tribe students to design, launch, and run their own business or startup after formal education is completed or during their final year of education. The scheme provides a limited one-time financial assistance of ₹20,00,000/-.

The scheme "Samriddhi – Scheme for Scheduled Caste/Scheduled Tribe Students for Setting Start-Ups" was launched by the All India Council for Technical Education. The scheme aims to provide opportunities for Scheduled Caste/Scheduled Tribe students to design, launch, and run their own business or startup after formal education is completed or during their final year of education. The scheme provides a limited one-time financial assistance of ₹20,00,000/- (of which ₹1,00,000/- per year is a recurring grant) to the institute, which then selects nine registered startups of Scheduled Caste/Scheduled Tribe students and provides ₹2,00,000/- seed money to each startup.

• The applicant must be an All India Council for Technical Education (AICTE) approved institute or an All India Council for Technical Education approved University Department.
• The applicant (Institute/University Department) must have been in existence for a period of at least 10 years.
• The applicant (Institution) must possess a good incubation center.
• The incubation center's activities must have been happening for at least 5 years.
• The applicant (Institute) must have a minimum of 50 Scheduled Caste/Scheduled Tribe students enrolled on average during the last 3 years.
• The applicant (Institute) must comply with the guidelines of the Tribal Sub Plan and the Scheduled Caste Sub Plan of the Government of India.
• Student Eligibility (For selection by the Institute)
• The applicant (Student) must be in the final year of their degree or diploma course.
• The applicant (Student) must have a registered company or startup in their name.

• Total funding provided is ₹20,00,000/-.
• Limited one-time financial assistance of ₹20,00,000/- is provided to the Institute.
• Seed money of ₹2,00,000/- per startup will be given, and this amount is non-refundable.
• Funding is allocated for nine startups of Scheduled Caste/Scheduled Tribe students.
• ₹2,00,000/- will be given to the institute specifically for meeting the expenditure associated with the selection procedure.
• ₹1,00,000/- per year shall constitute a recurring grant portion of the total funding.

> Other Details

• The total duration of the Scheme shall be for a period of 2 years.
• 100% of non-recurring funds are released at the time of the award of the scheme.
• ₹1,00,000/- each is released as recurring funding for two consecutive years.
• The seed money is provided to passed out or present students for starting their own enterprise after completion of the formal education from the same institute.

> Conditions

• The Institute must set up a committee to select nine already registered startups of Scheduled Caste/Scheduled Tribe students.
• It is essential that the center has dedicated faculty serving as the Principal Coordinator and dedicated support staff to ensure smooth functioning and effective meeting of its objectives.
• The Institute must devise a feedback mechanism to assess the importance of the program.
• Feedback shall be obtained after each program from each of the beneficiaries.
• If deemed necessary based on feedback, the Institute can update its curriculum for these programs.
• Exclusions from Benefit
• Startup beneficiaries who are already receiving benefits from other schemes of the All India Council for Technical Education or the Government of India will not be entitled to this scheme.