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Cabinet gives approval to extension of AIM till March Next year

The Union Cabinet approved the continuation of the Atal Innovation Mission (AIM) until March 2023. AIM’s stated goals include developing 10,000 Atal Tinkering Labs (ATLs), 101 Atal Incubation Centres (AICs), and sponsoring 200 entrepreneurs through the Atal New India Challenges, according to the statement.

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Key Points:

  • A total budgeted expenditure of Rs 2,000 crore plus will be incurred in the establishment and support of the beneficiaries.
  • According to the finance minister’s proclamation in the 2015 Budget speech, the mission will be run by the NITI Aayog.
  • The AIM’s goals are to foster an ecosystem of innovation and entrepreneurship across the country through interventions at the school, university, research, MSME, and industry levels.
  • The AIM has concentrated on both infrastructural development and institution formation, according to the statement.

According to the announcement, AIM-supported businesses have received over Rs 2,000 crores from the government and private equity investors, in addition to creating thousands of jobs. The AIM programmes, which span 34 states and union territories, are aimed at maximising India’s demographic dividend by encouraging more engagement in the innovation ecosystem.

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