Lok Sabha Question No. 1441 (UNSTARRED), answered on 2020-09-20
Subject: Venture Capital Fund for SCs
Ministry: SOCIAL JUSTICE AND EMPOWERMENT
Asked by: Amol Ramsing Kolhe, DNV Senthilkumar. S.

## GOVERNMENT OF INDIA MINISTRY OF SOCIAL JUSTICE AND EMPOWERMENT LOK SABHA

## UNSTARRED QUESTION NO.1441 TO BE ANSWERED ON. 20.09.2020

## VENTURE CAPITAL FUND FOR SCs

## 1441. DR: AMOL RAMSING KOLHE:

## Will the Minister of SOCIAL JUSTICE AND EMPOWERMENT he pleased to state:

(a) whether the Government is aware that many Of the Scheduled Caste (SC) entrepreneurs have not availed Venture Capital Fund for Scheduled Castes due to less awareness if so. the details thereof and the corrective steps taken in this regard:

(b) the details of challenges encountered in the utilization of Venture Capital Fund and the measures taken to address the same. State-wise especially Maharashtra and Tamil Nadu: being being

(c) the number of projects assisted under the Scheme of Venture Capital Fund for Scheduled Castes (SCs) the last three years; and during

(d) the details of the asset management companies involved in this initiative along with the details of revenue and/or profits generated under this initiative?

## ANSWER

## MINISTER OF STATE FOR SOCIAL JUSTICE AND EMPOWERMENT (SHRI RATTAN LAL KATARIA)

(a): Yes  Sir: In order to create awareness about the scheme. the following steps have been taken: Meetings have been conducted across various states in locations. (ii) Conferences/exhibitions organized by Associations/Institutions Industry Associations. (iii) Presence in S. Composite Credit Fairs. etc\_ (iv) Advertisements  in Newspapers Use of   social media   platforms   spreading awareness (vi) Exclusive website (www.vcfsc.in) vii) Promotion of scheme through state SC development Finance corporations industry associations IIMs and HITs across the country. Expo Camps Camps:

(b): The challenges are: (i) Delays in arranging clearances and approvals (ii) Arranging required Funds from Banks (iii) Risks in executions (iv) ability to overcome cost overrun; scattered and un-organized target and (vi) guidance. The measures taken to address the same are: () Creation Of awareness (ii) dissemination Of information, and (iii) Supporting and Hand-holding: being

- (c): Information is given aS per Annexure

(d): The Venture Capital Fund for Scheduled Castes (VCF-SC) is managed by IFCI Venture Nehru Place. New Delhi-19. Phone: 011-417325 07/81/90/70/67/18/76.) For managing & as Investment Manager of the Fund, IFCI Venture a fee acting gets

## STATEMENT OF REPLY FOR LOK SABHA UNSTARRED QUESTION NO. 1441 TO BE ANSWERED ON 20.09.2020

(VENTURE CAPITAL FUND FOR SCs)

The number of projects assisted under the scheme of Venture Capital Fund for Scheduled Castes (SCs) during the last three years are as below:

| Financial Yearl   |   No. of Companies Sanctioned Funds |   Total Sanctioned Funds (Rupees in erore) |
|-------------------|-------------------------------------|--------------------------------------------|
|                   |                                  26 |                                      92.15 |
| 2019-20           |                                  20 |                                      88.59 |
| 2020-21           |                                  12 |                                      46.84 |

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