Dalit venture capital fund of Rs 500 crore to be setup to support Dalit Entrepreneurs

Pune based Dalit Indian Chamber of Commerce & Industry (DICCI) is setting up India's first Venture Capital fund aimed at Dalit entrepreneurs. Milind Kamble, Chairman, DICCI announced this during the DICCI trade fair in Mumbai. The Chamber operates with a three-fold mandate: Bring together all Dalit entrepreneurs under one umbrella, Become a one-stop Resource Center for existing and aspiring Dalit entrepreneurs and Promote entrepreneurship among Dalits as a solution to their socio-economic problems.They are in the process of getting clearances from concerned authorities. Companies with new and innovative ideas will be funded through the fund. Adi Godrej, Chairman of the Godrej Group supported the move and said that free enterprise rather than reservations will increase dalit participation in the private sector.

We had written about LGBT Capital which invests in Lesbian Gay Bisexual and Transgender startups. Entrepreneurship can be a powerful tool for empowering marginalized communities. Do let us know your thoughts by commenting below.