India's Innovation Boost: AIM 2.0 Set to Transform Ecosystem

The Union Cabinet has approved a budget of Rs 2,750 crore for the Atal Innovation Mission (AIM), extending it to March 2028. AIM 2.0 aims to fortify India's innovation ecosystem, enhancing global competitiveness and jobs by scaling successful initiatives across industries and communities.

The Union Cabinet has greenlit the continuation of its flagship initiative, the Atal Innovation Mission (AIM), with a substantial budget allocation of Rs 2,750 crore until March 31, 2028.

This decision aligns with the goal of 'Viksit Bharat,' focusing on expanding and deepening India's dynamic innovation and entrepreneurial landscape. As of now, India stands at 39 on the Global Innovation Index and hosts the third-largest start-up ecosystem globally. AIM 2.0 is anticipated to solidify India's global standing further, fostering better jobs, innovative products, and impactful services across various sectors.

Building on the foundation of AIM 1.0, which established innovation infrastructure like Atal Tinkering Labs and Atal Incubation Centres, AIM 2.0 represents a qualitative evolution in its policy approach. It plans to pilot new initiatives to bridge gaps in the ecosystem while scaling successful programs through collaboration with central and state governments, industry leaders, academia, and community stakeholders.

(With inputs from agencies.)