Samiridhi Scheme for SC/ST Students for Setting Start-Ups (2023)

All India Council for Technical Education (AICTE) invites online applications from AICTE-approved institutes / Universities / Departments eligible for assistance under the following schemes of quality improvement during the academic year 2022-23.

Employment has become increasingly poor these days, especially for freshers. They do have a degree in the end, but many students still remain jobless. Some of the students either end up having a low-paying job or a business.

That is why it is mandatory to have the provision of business and enterprise opportunities for SC/ST students. The Samridhi scheme has thus been introduced to encourage financially backward students to make the future bright and full of opportunities.

The primary aim of the Samiridhi scheme for SC/ST students for setting up start-ups is to be a helping hand to those SC/ST students who are jobless. Under this scheme, the students will learn many things such as designing their business, launching their enterprise, running it successfully, and further support with respect to business.

This scheme will also provide them with a variety of training to start up their own business and enterprise. This scheme will be provided to the students who are either studying or passed out from their colleges.

Samiridhi Scheme Details:

Eligibility Criteria:

• Applicant must be in SC/ST caste.
• The candidate should be studying/passed out from an AICTE-approved institute or university.
• There should be a better incubation center in the institute or university.
• The institute or university should at least be in existence for a minimum of 5 years.
• There should be a minimum of 50 minimum candidates under the SC/ST category of caste.
• Applicant must be there at the Institute for the past 3 years.
• Institutions or universities should be following the guidelines of the scheduled caste sub-plan or tribal sub-plan of the Indian government.

Eligible and Not Eligible Institutes:

AICTE Approved Courses:

Engineering, MCA, Architecture, Management (MBA/PGDM), Pharmacy, Hotel Management & Catering Technologies, Applied Arts & Crafts. AICTE approved Diploma / Post Diploma / Degree / Post Graduate Degree / Post Graduate Diploma Level Courses.

Not Eligible Institutes:

Institutes / Deemed Universities / State Universities / Constituent Colleges of Universities not approved by AICTE.

Funding Limit:

The policy states that there would be an amount of 20 lakh rupees maximum to be given to the respective institute or university. About 1 lakh will be granted on a per-year basis.

Fund Disbursement:

The release of this funding should take place at the awarding time of this scholarship scheme.

Methodology and Processing:

• There should be a proposal for this scholarship scheme by the institute or the university. The committee of experts will be taking care of the assessment of the proposal.
• The experts should be having at least an associate professor rank in their profession.
• There should be at least 3 such associate professors for assessing the scheme proposal.

Duration:

According to this scholarship scheme, the program duration should be at least 2 years.

Terms and Conditions:

• The amount would be no more than 20 lakhs for financial assistance.
• The total number of startups for SC/ST students would be 9 maximum.
• Those students should have their registration done.
• According to this scheme, the seed money should be provided further to the students belonging to the SC/ST caste and they should be passed out/still studying.
• After the students have completed their education at an institute or university, they should be able to jump-start their business. For this reason, they should be given proper training, workshop, development sessions, and support from a recognized institute or university.
• There should be a feedback system should be there for students after each program from every individual SC/ST student.
• Applicants who are getting the benefit of the startup scheme under other GOI or AICTE schemes are too eligible for this scheme.

How to Apply for Samiridhi Scheme Online?

Interested and eligible students may visit the official website www.aicte-india.org to apply for the Samiridhi scheme for SC/ST students for setting up start-ups online.

Important links: