NITI Aayog launches Atal New India Challenge that to provide grants of up to how much amount to innovative products and solutions

On April 26, the Atal Innovation Mission (AIM) of the NITI Aayog has launched the Atal New India Challenge, which aims to support innovators to create products/solutions based on advanced technologies in areas of national importance and social relevance through a grant-based mechanism. Under the challenge, grants of up to Rs 1 crore and mentorship will be given to the winning ideas. AIM will invite prospective innovators, MSMEs and start-ups to design market-ready products, using cutting-edge technologies or prototypes. The focus areas include climate-smart agriculture, smart mobility, predictive maintenance of rolling stock, and waste management. Applicants showing capability, intent and potential to productize technologies will be awarded grants up to Rs 1 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.

Month: Current Affairs - April, 2018