Background

Hon’ble Finance Minister in his Budget Speech for FY 2014-15, in February 2014, announced the setting up of a Venture Capital Fund under the head Social Sector Initiatives vide para 38, which is reproduced below:

“In order to promote entrepreneurship among the scheduled castes and to provide concessional finance to them, IFCI will set up a Venture Capital Fund for Scheduled Castes. I propose to provide an initial capital of Rs. 200 Crore, which can be supplemented every year”

The said allocation was under Social Sector Initiatives in order to promote entrepreneurship among the scheduled castes and to provide concessional finance to them.

BENEFICIARIES UNDER VCF-SC

(Beneficiaries launching their products / Brands and Commercializing)

20th March Ventures Pvt. Ltd., Pune launching their product.

20th March Ventures Pvt. Ltd., Pune launching their product.

TGN Infotech, Nagpur launching their IT setup.

MGM Infra Pvt. Ltd. Punjab, inaugurating their Fly Ash brick manufacturing facility.

MGM Infra Pvt. Ltd. Punjab, inaugurating their Fly Ash brick manufacturing facility.