NITI Aayog started second phase for setting up a Startup Cradle Center

NITI Aayog‘s Atal Innovation Mission (AIM) on Monday launched the second phase of its initiative to set up a Startup Cradle Centre. Under this, applications have been sought for setting up Atal Palna Kendra (Atal Incubation Center) and Atal Community Innovation Center (Atal Community Innovation Center) for the entrepreneurs of the country.

The goal of these projects, according to the official statement, is to construct international standard institutions in the nation and foster an atmosphere for creativity. The nation’s aspiring businesspeople will gain from this.

According to Parameswaran Iyer, CEO of NITI Aayog, social entrepreneurship and inclusive growth are what spur innovation in India. He claimed that the Atal Innovation Mission’s distinctive initiatives, the Atal Incubation Center (AIC) and the Atal Community Innovation Centre (ACIC), will improve India’s expanding startup ecosystem.

The mission of Atal Palna Kendra, according to the statement, is to support the entrepreneurial and innovative spirit while fostering a supportive environment for new businesses and entrepreneurs across the nation.

According to the statement, grants totaling up to Rs 10 crore are awarded to each AIC over a five-year period.

Since 2016, 68 Atal Palna Kendras have been established by the Atal Innovation Mission in 18 states and three union territories. With this, 2,700 startups have received aid.

The Atal Community Innovation Center aims to encourage entrepreneurship and innovation in underserved regions of the nation.