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APPLICATIONS FOR ATAL INCUBATION CENTRE AND ATAL COMMUNITY INNOVATION CENTRE

APPLICATIONS FOR ATAL INCUBATION CENTRE AND ATAL COMMUNITY INNOVATION CENTRE

Why in News?

Recently, Atal Innovation Mission (AIM), NITI Aayog launched Call for Applications for its two leading programs Atal Incubation Centre (AIC) and Atal Community Innovation Centre (ACIC).

About

AIM is a flagship initiative to promote the culture of innovation and entrepreneurship in India. It is an umbrella structure that has been mandated to promote innovation and revolutionize the entrepreneurial ecosystem in the country. It develops new policies and programmes for fostering innovation in different sectors of the economy and provides platform and collaboration opportunities to various stakeholders in the entrepreneurial space.

Eligibility

Academic institutions such as higher educational institutes, R&D institutes, etc. as well as non-academic institutions such as corporate sector enterprises, alternative investment funds registered with SEBI, business accelerators, groups of individuals, and individuals, etc. are eligible to apply.

Financial Support

AIM will provide a grant-in-aid of up to Rs. 10 crores for a maximum period of 5 years to cover the capital and operational expenditures to establish the proposed AIC.

ATAL COMMUNITY INNOVATION CENTERS

Atal Community Innovation Centers have been launched to encourage a spirit of entrepreneurship in the underserved/unserved regions of India by providing enabling infrastructure and facilitating environment for innovation.

• ACIC is envisaged to serve the unserved/underserved areas of the country with respect to the start-up and innovation ecosystem.
• Each ACIC is supported with a grant of up to INR 2.5 crores over a period of 5 years.
• AIM has established 14 Atal Community Innovation Centres across the country.