Govt to brainstorm on fast-tracking innovations, start-ups

Prime Minister Narendra Modi will brainstorm with chief ministers to generate greater synergy between Centre and states to fast-track two of his most ambitious ventures — Atal Innovation Mission (AIM) and Start-Up India — during the meeting of Niti Aayog’s governing council, scheduled for July 30.

According to highly-placed sources, the governing council, which will be meeting more than a year after its last meeting on July 18, 2015, will hold detailed deliberations on how better to channelise the two schemes aimed at encouraging innovative ideas by students and providing financial support to budding start-ups across the country.

Mr Modi, who is the chairman of the government’s think tank, is keen to ensure that states come on board and in the true spirit of cooperative federalism, help in promoting the two schemes at their levels also, sources said.

Niti Aayog CEO Amitabh Kant is expected to make presentations on both AIM and Start-Up India during the meeting.

This newspaper has already reported that the Prime Minister will also be reviewing the 12th Five Year Plan — which is ending on March 31, 2017 — during the meeting. He will seek action taken reports from states on initiatives like Swachch Bharat Abhiyan, rationalising of centrally sponsored schemes and setting up of smart cities.

Both AIM and Start-Up India were launched earlier this year. While the former is aimed at encouraging innovative ideas of students from the school level, the second scheme is aimed at providing a slew of tax benefits to budding start-up ventures.

With many states having their respective start-up initiatives, discussions on the need to synchronise efforts in promoting these schemes will be held at the meeting.

Under AIM, the government plans to set up incubation centres to be known as Atal Incubation Centres (AICs) across India by providing them with financial support. AICs would further support and encourage start-ups to become successful enterprises. They will provide necessary and adequate infrastructure along with high quality assistance or services to start-ups in their early stages of growth.

AICs would be established in subject specific areas such as manufacturing, transport, energy, health, education, agriculture, water, sanitation etc. Each AIC would be required to choose at least one area for specialisation.

July 20 was the last date set by Niti Aayog for inviting applications from companies, higher education institutions and R&D centres for setting up AICs in their campuses.

Similarly Niti Aayog had sought applications by the aforementioned deadline from schools for setting up Atal Tinkering Laboratories (ATLs) to nurture young innovators.

Under Start-Up India, the Centre intends to build a strong eco-system for nurturing innovation and startups in the country that will drive sustainable economic growth and generate large scale employment opportunities.

According to official sources, the government using this initiative aims to empower startups to grow through innovation and design in tier-II and tier-III cities, by offering them several tax incentives and holidays.