Atal Incubation Centres

 

Atal Incubation Centres

One of the main objectives of the Atal Innovative Mission (AIM) is to establish several incubation centres in India which will be called the Atal Incubation Centres. AIM will provide financial support to people in India, for them to establish incubation centers across the country. The main objective of the mission is to support and motivate start-ups and to help them become successful businesses.

Atal Incubation Centres

Goal of Atal Incubation Centres

The Atal Incubation Centres (AICs) is a mission that supports the Stand Up India scheme, where start-ups and growing entrepreneurs are given financial help to grow their business. AIC will provide whatever assistance and support that is required by people in starting and growing a business. Under the supervision of the AIC, start-ups will be taken through the right path of establishment.

Features of Atal Incubation Centre

  • The Atal Incubation Centres will work as a support system for the start-ups and aspiring entrepreneurs. These centres will work under the guideline of AIM, and will provide the infrastructure that is required by start-ups.
  • AICs will be established based on different areas of requirements. The kinds of AICs to be established will include water and sanitation manufacturing, transport, energy, health, education, agriculture, etc. From these mentioned areas, each of the AIC will have to choose one specific area for the establishment of AIC.
  • An AIC can be established in a privately funded, publicly funded, or in a partnership funded institution. Other kinds of tech parks, research and development units, and individuals can also apply for setting up an AIC unit.
  • For setting up the AIC, fund will be given to the applicant in the form of a grant with a time duration of five years. In this five years the start-up has to become a self-dependent company.

Eligibility criteria for applying Atal Incubation Centre

  • The AIC has to be established in a private mode, public mode, or in a public partnership mode.
  • An AIC can be established by higher educational institutes or research and development companies. This will be termed as academic establishments.
  • Apart from the above, industrial parks, corporate companies, tech parks, or a group of individuals belonging to the above mentioned sectors can apply for establishing an AIC.

Application procedure and application form

The individuals or the groups who fulfil the eligibility guidelines can follow the following procedure to apply for setting up an AIC.

The eligible applicant needs to submit an application form that is available online.  One needs to visit the online website of NITI which is niti.gov.in in order to get the application form. In the portal there will be a tab which reads ‘apply for setting up AIC’. The application needs to click on the tab and choose from the two option of industrial applicant and academic applicant. After this some basic information needs to be filled. Once the form is filled, submit the form online itself.

All application must be filled and submitted on or before 20th July 2016. Any application for setting up an AIC will not be accepted after 20th July.

Financial support details

Here are the details about the financial support given by the government for setting AIC-

Fund details Explanation
Type of financial aid given The fund will be given in the form of a grant. The grant will be paid for 5 years, within which the enterprise is supposed to establish and become self-sufficient. As soon the application is accepted, grant will be given for AIC.
Amount to be given by the government The maximum amount given to the applicant for establishing AIC would be Rs.10 crore. The amount will include the capital amount and operational cost. The grant will be given based in the need of the establishment. The applicant has to submit a plan along with the application form. Based on which the money will be given.
Financial coverage for the project A maximum 50% of the cost of the project will be given to the applicants. This will be given only after the application has been approved.

Other factors to remember when applying

  • The applicants will be able to apply only through online application form that is available in the official website. The application forms are not available offline.
  • When applying, one should have an area of 10000 square feet for a tenure of 15 years, for the establishment of AIC. Smaller area will not be approved for the establishment of AIC.
  • The whole authority of accepting or rejecting a plan or an application is in the hands of AIMs. They are authorized to make the final decision. At any point of the process, AIMs will hold the authority to accept or reject an applicant. They will take care of the whole process of selection, from the time of application submission to the time of releasing fund.

This project is sure to benefit many start-up companies and business owners who can now take help from those Centres. Government will provide complete support to the people who will show interest in setting up an AIC.

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