Cabinet Extends Atal Innovation Mission

Cabinet Extends Atal Innovation Mission

Cabinet Extends Atal Innovation Mission Updates: The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has authorized the extension of the Atal Innovation Mission (AIM) till March 2023. The AIM will focus on its stated goal of promoting a culture of innovation and an entrepreneurial environment in the country. AIM will do this through its many initiatives.

AIM intends to achieve the following objectives:

  • Creating 10,000 Atal Tinkering Labs (ATLs),
  • 101 Atal Incubation Centers will be established (AICs),
  • 50 Atal Community Innovation Centers (ACICs) will be established.
  • The Atal New India Challenges are assisting 200 entrepreneurs.

A total projected cost of more than Rs.2000 crore would be expended on the establishment and supporting the beneficiaries.

In accordance with the Hon’ble Finance Minister’s declaration in the 2015 Budget Speech, the Mission has been established under the NITI Aayog. The AIM’s goals are to establish and support an ecosystem of innovation and entrepreneurship across the country through interventions at the school, university, research, MSME, and industry levels. The AIM has emphasized infrastructural development as well as institution building. As demonstrated by these instances, the AIM has strived to integrate the innovation ecosystem on a national and global scale:

The AIM has established bilateral relationships with a number of international organizations in order to promote synergistic collaboration in the areas of innovation and entrepreneurship, such as the AIM – SIRIUS Student Innovation exchange program with Russia, the AIM – ICDK (Innovation Centre Denmark) Water Challenge with Denmark, and the IACE (India Australian Circular Economy Hackathon) with Australia.

The AIMs were critical to the success of InSpreneur, an Innovation Startup Summit co-hosted by India and Singapore. The AIM collaborated with the Ministry of Defence to establish the Defence Innovation Organization, which promotes both innovation and procurement in the defense industry.

The AIM has strived throughout the years to develop an institutional platform for integrating innovation initiatives across the country. Innovation to lakhs of schoolchildren through its programs. AIM-supported firms have secured nearly $2 billion in funding from government and private equity investors, resulting in the creation of thousands of jobs. The AIM has also completed a number of innovation challenges on themes of national importance. AIM’s programs cover 34 states and union territories, with the purpose of capitalizing on India’s demographic dividend by encouraging increased engagement in the innovation ecosystem.

With the cabinet’s approval to continue, AIM now has even more responsibility to build an inclusive innovation environment that encourages innovation and entrepreneurship.

Learn More 

Link: Download Current Affairs | India Australia Virtual Summit

Source: PIB


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