startup fund

National Institution for Transforming India (NITI) or Niti Aayog, a policy think tank of the Government of India, will soon seek applications for Atal New India Challenge under which it will provide grants of upto Rs 1 crore will be given.

Speaking elaborately, for Atal New India Challenge Niti Aayog will soon open applications from prospective innovators/MSMEs/start-ups to design market-ready products, using cutting edge technologies or prototypes across 17 identified focus areas. Under the challenge, grants of upto Rs 1 crore will be given along with mentorship to the winning ideas.

“Under the Atal New India Challenge, which shall be run in collaboration with five ministries, AIM will invite prospective innovators/MSMEs/start-ups to design market-ready products, using cutting edge technologies or prototypes across 17 identified focus areas such as Climate Smart Agriculture, Smart Mobility, Predictive Maintenance of Rolling Stock, Waste Management etc,” the Aaoyog said in a release.

The Atal Innovation Mission (AIM) under the NITI Aayog is launching the Atal New India Challenge tomorrow on April 26, 2018.

Applicants showing capability, intent and potential to productize technologies will be awarded grants up to Rs. One crore. This grant will be further supplemented by mentoring, handholding, incubating and other support as needed at various stages of commercialisation, while generating wider deployment for the product.

The event will see presence of Rajiv Kumar, Vice-Chairman, NITI Aayog, Nitin Gadkari, Union Minister for Road Transport & Highways, Shipping and Water Resources, River Development & Ganga Rejuvenation, Radha Mohan Singh, Union Minister of Agriculture & Farmers Welfare, Hardeep Singh Puri, Union Minister of State (Independent Charge), Housing and Urban Affairs, SS Ahluwalia, Minister of State, Ministry of Drinking Water & Sanitation, Amitabh Kant, CEO, NITI Aayog and Ramanathan Ramanan, Mission Director, AIM.

RELATED READING  Indian Govt to Mandate Cab Firms like Uber, Ola to Electrify 40% of their Fleet by 2026

The above news was first reported in Business Standard.

To know more about on how to submit application for Atal New India Challenge, Apply Here. The last date of application is 10th June 2018.

Speaking about grants for startups and entrepreneur, last month Karnataka government announced a new entrepreneurship scheme, under which Rs 30,000 per month would be provided to any entrepreneur for a year while they incubate their idea with Karnataka’s startup cell.

To recall, in February last year, Niti Aayog gave Rs.10 crore each to two Bangalore-based incubators — the bioincubator at the Centre for Cellular And Molecular Platforms (C-CAMP), and the NS Raghavan Centre for Entrepreneurial Learning at the Indian Institute of Management, Bangalore (IIM-B).

To recall, few days back Niti Aayog has also signed a non-binding agreement with New York-based blockchain startup Consensys, which is founded by Joseph Lubin, who is the co-founder of the Ethereum.

Like this content? Sign up for our daily newsletter to get latest updates.



This site uses Akismet to reduce spam. Learn how your comment data is processed.

You may also like