Atal Innovation Mission (AIM)

 

Atal Innovation Mission (AIM)

Atal Innovation Mission (AIM) is a government of India initiative to promote the idea of entrepreneurship and to seed the concept of innovation among the youngsters across the country. Atal Innovation Mission will provide a platform for the people to showcase their business ideas and to set up new enterprises.

Atal Innovation Mission

Objective of Atal Innovation Mission

The main objective of AIMs is to encourage and support innovative start-up plans, challenging entrepreneurship ideas, self-employment activities, and technology driven ideas for businesses. The whole idea of AIMs is to have an India that is full of start-ups, and a country that has more people who are self-employed, thus improving the economy of the country.

Details of AIMs

  • Promote the concept of entrepreneurship by encouraging self-employment ideas. The people who are willing to invest in new ideas and start a business will be supported financial and will be assisted in becoming successful business owners.
  • Provide opportunities where people can come up with innovative ideas.

Under this mission two prominent schemes have been launched in order to improve the quality and the number of incubation centres in India.

Two scheme under the mission Atal Incubation Centres Scale-up Support
What is the scheme about? Under the Atal Incubation Centre scheme new incubation centres will be opened across the country for the purpose of helping the new entrepreneurs grow and establish their businesses. Under the Scale-up Support scheme, the already existing Incubation centres will be improved in terms of quality and productivity.
How will they help? These new incubation centres will be able to provide adequate help and support to the new enterprises and start-ups. The existing incubation centres will be provided funds to improve their standards and equip latest infrastructure and technology.

Over all, AIMs will try and enhance the whole system of start-ups in India by providing them with more number of incubation centres and improving the existing incubation centres. Government will be providing sufficient funds under both the scheme in order to improve the incubation centres and to launch new incubation centres.

Benefits from the schemes

With the advanced incubation centres available, the start-up companies and entrepreneurs will be able to get the required support and training. Along with the new incubation centres, the adequately developed incubation centres will be able to support and develop new ideas of businesses.

Key features of AIMs

  • The main mission of AIMs is to provide complete support to the start-ups by providing the facility of incubation centres. Under this mission financial help will be given to establish new incubation centres and improve and enhance the existing incubation centres.
  • In this scheme the people who want to establish an incubation centre or want to re-develop an incubation centre, a maximum amount of Rs.10 crore will be given. This amount will be given in two installments.
  • The scheme benefit will be provided to all kinds of incubation centres including centres of manufacturing, water, health, energy, sanitation, etc.
  • The fund will be given for a period of 6 years under this scheme, in the form of a grant. Within this period, the incubation centres should be properly established or re-developed.

Eligibility for applying under AIMs for scale-up support

  • For applying for AIMS, the applicant has to be a legally registered private enterprise, public enterprise or a private and public partnership enterprise in India. Only the above mentioned kinds of applicants are eligible for either applying or re-applying for AIMs.
  • The legal entity that is applying or re-applying for scale-up support, has to be running that particular incubation centre for a period of 10 years in India. Incubation centres running less than 10 years are not eligible for scale-up support scheme.

Application for AIMs

The people who want to apply for either of the schemes have to do it online. Application forms are available in the official website of NITI Aayog. You have to fill in some details and then submit your application form online along with a budget plan of your project. The last date for applying is 20th July, 2016. Application after this date will not be accepted.

Some other important facts about AIMs and scale-up support

  • Under this scheme a maximum of Rs.10 crore will be given to the recognized incubators for them to enhance and upgrade. The amount will be given in to instalments, after the application has been approved.
  • The application has to be done only by online mode. Offline forms are not available, and any forms after the last date will not be considered.
  • The selection of the eligible applicant will be made on the basis of the past performance of the incubation centre. Also the enhancement plan of the applicant is an important factor of selection.
  • Application by one applicant for one incubator must be done only once. Double application will be rejected completely. Also, all institutions except for the public funded incubators, will have to submit a bond on a non-judicial stamp paper.
  • AIMs will have the whole authority of accepting or rejecting an application.

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