Beneficiary of Venture Capital Fund scheme for Scheduled Caste (SC) Entrepreneurs launches his product

5 Dariya News

New Delhi 11-Oct-2016

Shripad Yesso Naik, Minister of State (I/C) for AYUSH launched “Elixir for Life”,  an Ayurvedic Proprietary Medicine at a function here today. Shri Giriraj Singh, Minister of State for Micro, Small and Medium Enterprises was the Special Guest.  This product has been produced by a beneficiary of the Venture Capital Fund Scheme for Scheduled Caste (SC) Entrepreneurs launched by Ministry of Social Justice & Empowerment in 2014-2015. The beneficiary M/s Mallur Flora & Hospitality Ltd. No. 11, RBI Colony, Bengaluru has been financed by Ministry of Social Justice & Empowerment, Government of India (IFCI) and Department of Welfare Govt. of Karnataka (KFSC).The Ministry of Social Justice & Empowerment launched the Venture Capital Fund Scheme for Scheduled Caste (SC) Entrepreneurs in 2014-2015. 50 SC entrepreneurs have till now benefitted from the scheme. The Scheme has helped the entrepreneurs in achieving economic empowerment.

The objective of the Venture Capital Fund Scheme for Scheduled Caste are as follow:-

1.    It is a Social Sector initiative to be implemented nationally in order to promote entrepreneurship among the scheduled caste population in India.

2.    Promote entrepreneurship amongst the Scheduled Caste who are oriented towards innovation and growth technologies.

3.    To provide concessional finance to the scheduled caste entrepreneurs, who will create wealth and value for society and at the same time will promote          profitable businesses. The assets so created will also create forward/ backward linkage. It will create chain effect in the locality.

4.    To increase financial inclusion for SC entrepreneurs and to motivate them for further growth of SC communities.

5.    To develop SC entrepreneurs economically.