Atal Innovation Mission: Functions, Activities, Achievements, ARISE

The Atal Innovation Mission supports the development of a proper scientific ecosystem. Read on to know everything about Atal Innovation Mission at IIFL finance.

29 Nov,2022 10:13 IST 16 Views
Atal Innovation Mission: Functions, Activities, Achievements, ARISE

The National Institution of Transforming India (NITI Aayog) launched the Atal Innovation Mission in 2016, a flagship initiative to promote entrepreneurship and innovation across all sectors. The initial capital provided by the Indian government to the NITI Aayog was INR 150 crores. This capital aims to provide academicians, researchers, and entrepreneurs with the financial calibre to bring innovation to their respective fields to ensure development in India.

The Atal Innovation Mission supports the development of a proper scientific ecosystem at various levels, such as SMEs, MSMEs, schools, corporates, NGOs, and science and engineering institutions.

The Atal Innovation Mission: Functions

The Indian government entrusted the NITI Aayog to develop the extensive functions for the Atal Innovation Mission to ensure prompt execution with the following two core functions:

• Entrepreneurship Promotion:

The first function of the Atal Innovation Mission is to promote entrepreneurship in India through talent utilisation and self-employment. The mission supports entrepreneurs with enough capital and technology to achieve success.

• Innovative Platform:

The second function of the Atal Mission Innovation is to create and maintain a platform for entrepreneurs to come together and discover the needed support. The platform also allows entrepreneurs to generate innovative ideas for developing the Indian sectors.

Atal Innovation Mission: Activities

The Atal Mission Innovation supports academicians, researchers, and entrepreneurs through the following five activities.

1. Atal Tinkering Labs (ATLs)

Atal Tinkering Labs are innovative laboratories set up in various schools across India. The primary aim of these labs is to infuse creativity and imagination into young school students studying in schools.

The labs have dedicated spaces equipped with advanced technology to enhance the student's skill set in related fields such as computation thoughts, physical computing, design, and adaptive learning. ATLs provide such services through advanced equipment and software such as robotics, sensors, the internet of things, 3D printers, etc. The Indian government granted Rs 20 lakh to schools to set up ATLs.

2. Atal Incubation Centers (AICs)

Atal Incubation Centers help university students with people working in NGOs, SMEs, and the corporate sector to promote their entrepreneurial skills. Such labs allow individuals to incubate their startup ideas and find the needed support to execute them. The Indian government provides successful applications with a grant of Rs 10 lakhs to promote at least 5-10 startups in every Indian state.

3. Atal New India Challenges or Atal Grand Challenges (Focus Areas)

The Atal New India Challenge is an entrepreneurship challenge focused on technology-driven innovations and helping startups willing to create a social impact. Companies working in energy, hygiene, water, health, and housing areas organise this challenge. The successful applicant receives a government grant of Rs 1 crore, which can go up to Rs 30 crore based on the idea of the startup and the resulting operations.

4. Mentor Program

The program is a mentor network created by the Indian government that comprises industry experts and professionals. It guides students included in the Atal Tinkering Labs and Atal Incubation Centers to ensure they are on the right path. There are more than 10,000 registered mentors, and the Indian government works with countries such as the USA, Germany, etc., for collaboration.

5. Atal Community Innovation Centre (ACIC)

The Atal Community Centre focuses on India’s underserved areas of tier-1, 2, and 3 metro cities, aspirational districts, N-E States, and tribal and rural areas to ensure growth through community innovation. The central aim of the innovation center is to provide financial support to unique ideas and solutions to ensure the development of such innovations among students, researchers, etc.

About The Atal Innovation Mission: Achievements

Here are the achievements of the Atal Mission:

• Of the 102 shortlisted incubated startups across 23 states, 47 secured funding.
• Over 600 startups have started operations through the mission’s support.
• The mission has organised 350 training programs and 900 events to support entrepreneurship and innovation.
• The mission secured more than 350 collaborative partnerships for the mentor program.

Atal Research and Innovation For Small Enterprises (ARISE)

ARISE is an initiative by the Indian government to facilitate research and development and innovation to furnish sustainable solutions to various sector-related development programs. Various Indian ministries and departments purchased the idea for the finder under the ARISE program. The ideal motive is to instil research culture to benefit areas such as exports and import substitution and to find indigenous solutions to domestic problems. The focus areas under the mission include education, railways, health, agriculture, green energy, water, etc.

Avail Of An Ideal Business Loan From IIFL Finance

Apart from the Atal Mission, you can take a business loan from IIFL Finance if you have a great business idea. Through IIFL Finance business loan, you can get instant funds up to Rs 30 lakh with a quick disbursal process online and minimal paperwork. The loan’s interest rate is attractive and affordable to ensure the repayment doesn’t create a financial burden.

FAQs:

Q.1: What roles do mentors play in ATLs?
Ans: Mentors support and review projects and teach students about entrepreneurship and innovation. They also conduct workshops and remedy seminars.

Q.2: Can any school start an ATL?
Ans: Yes, any school can apply and start an Atal Tinkering Lab free of cost to avail of all the benefits.

Q.3: Can I take a business loan from IIFL Finance to start a business?
Ans: You can raise immediate funds of up to Rs 30 lakh from IIFL Finance to start a business.

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