The Union Cabinet has given its approval to continue the Atal Innovation Mission, a flagship initiative of NITI Aayog, which is a crucial step in India’s development, to promote and strengthen the innovation and startup ecosystem in India. This step of the government provides a lot of help to small startups, middle class startups and big startups.
The government has now expanded its scope and approved a budget of ₹2,750 crore. AIM aims to develop policies and provide opportunities for collaboration to promote innovation in various sectors of the economy.
What is Atal Innovation Mission?
The Indian government recently launched the Atal Innovation Mission 2.0, which could prove to be a significant step for Indian startups and innovators. The Atal Innovation Mission (AIM) aims to encourage innovation and startups in India. This mission is especially for those startups which are working to promote new ideas, innovation in technology and business.
Under this mission, the government aims to provide startups with better infrastructure, funding, and technical support, enabling them to compete globally. This will further encourage startups.
Activities undertaken by Atal Innovation Mission
Various types of activities are included under Atal Innovation Mission.
- Atal Tinkering Labs (ATLs)
- Atal Incubation Centres (AICs)
- Atal New India Challenges (ANIC)
- Mentor India Campaign
- Atal Community Innovation Centres (ACIC)
Additional focus areas of ANIC
- Alternate fuel-based transportation
- Cleaning of sewer and septic tanks
- Climate-smart agriculture
- Digital and Grey water management
- Fog vision system for road and rail
- Garbage composition devices
- Instant portable water quality testing
- Mixing blades for composting
- Predictive maintenance of Rolling Stock
- Sustaining drinking water sources
- Systems to identify, predict and recognize rail failure, using technologies
- Waste in public spaces
What are its benefits for startups?
The Atal Innovation Mission offers significant support to startup startups. Most importantly, it provides a platform for business parties and offers opportunities for collaboration.
Innovation Hubs and Learning Platforms
Under AIM 2.0, various innovation hubs and learning platforms will be created for startups, where people will have the opportunity to better develop their ideas and bring them to market.
Funding and investment
AIM 2.0 will help startups access the necessary funding. The government plans to connect multiple investors with startups to help them grow. With this, startups will not have to struggle to raise funds and they will be able to focus better on their startup.
Promote entrepreneurship
AIM 2.0 will further foster the spirit of entrepreneurship among Indian youth by helping them establish their own businesses and providing them with the necessary resources. The Atal Innovation Mission was launched specifically with startups in mind. It will be a significant help to those starting a business.
Currently, AIM is promoting innovation initiatives across the nation with the help of various industries. AIM’s objective is to develop new programmes and policies for fostering innovation in different sectors of the economy.