Atal Innovation Mission and SETU - Highlights

Atal Innovation Mission and SETU - Highlights

  • Launch date: February 2016
  • Launch by: Prime Minister Shri Narendra Modi

Aim:

  • Give a substantial boost to the innovation ecosystem
  • Catalyze the entrepreneurial spirit in the country

Background:

  • In the budget 2015- 16, Finance Minister announced the Government's intention to establish the Atal Innovation Mission (AIM) and a mechanism to be known as SETU in NITI.
  • Initial sum for this mission is Rs. 500 crore and Rs. 1000 crore respectively.

Feature:

  • To implement this mission AIM and AIM Directorate will be established in a focused manner and the headquarters will be in New Delhi.
  • Mission High-Level Committee (MHLC) will not only guide the Mission but also take all decisions related to approval of requisite guidelines and implementation.
  • NITI Aayog constituted an Expert Committee under the Chairmanship of Prof. Tarun Khanna, Director, South Asia Institute, Harvard University, USA, on Innovation and Entrepreneurship to work out detailed contours of AIM and SETU.
  • Also, recommended the need to establish clear systems to monitor the implementation, execution, and impact.
  • Mission is AIM and approach is SETU. So, there should be one umbrella scheme titled as 'AIM' having two sub-components – 
    • Innovation
    • SETU (where the innovators would be supported and mentored as successful entrepreneurs).

Name of the mission Atal Innovation Mission (AIM) and Self Employment and Talent Utilisation (SETU)
Launch date February 2016
Launch by PM Shri Narendra Modi
Organised by NITI Aayog
Headquarter of the Mission New Delhi
Aim Boost innovation ecosystem
Budget cost Rs. 500 crore and Rs. 1000 crore respectively.

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