Institutions that help to develop a primary stage startup business are called incubation centres. Atal Incubation Centres with world-class facilities have been established through Atal Incubation Mission (AIM).
These institutions generally provide facilities like business and technical facilities, mentoring, seed funding, network, and connections, co-working space, labs, and consultancy services to the startups. Out of all the recognized incubators across the country, more than 50 are covered under the Startup India scheme, some examples are SIDBI Innovation and Incubation Centre, IIT Kanpur, TBI, BITS Pilani, ICA (Advertising) com-cubator, MICA Ahmedabad; Rural Technology Business Incubator (RTBI), IIT Madras, etc. In this article we’ll discuss all about Atal Incubation Centre.
Atal Innovation Mission
Atal Innovation Mission (AIM) is an endeavor of the Government of India to promote a culture of innovation and entrepreneurship. It aims to act as a platform for promoting world-class innovation hubs, grand challenges, start-up businesses, and other self-employment activities, especially in technology-driven areas.
Atal Incubation centres
Atal Incubation Centres with world-class facilities have been established through Atal Incubation Mission (AIM). World-class physical infrastructure, as well as other facilities, are available at all the Atal Incubation Centers spread across the country.
Atal Incubation Centre is India’s first and probably the largest women-centric business incubator that supports entirely women-led startups.
Also Read – Top Incubation Centres for Startups in Rajasthan
These centers are well supported by the Ministry of MSME, Ministry of Electronics and IT (MeitY), Department of Science and Technology, and DPIIT Startup India, through which it provides seed funding support to startups.
It is an initiative by AIM to promote the culture of innovation and entrepreneurship in India. It is an umbrella structure that is imperative to foster innovation and revolutionize the entrepreneurial ecosystem in the country.
AIC’s new initiative will provide new opportunities to talented youth and researchers from across the country including aspirational districts, Tier-II and Tier-III cities, Jammu & Kashmir, and North Eastern states with a special focus on 484 least developed districts of the country.
It develops new policies and programs to promote innovation in various sectors of the economy and provides forum and collaboration opportunities to various stakeholders in the field of entrepreneurship.
In order to create an ever-evolving ecosystem of startups and entrepreneurs, AIM is setting up a world-class incubator called Atal Incubation Centre (AIC) in universities, institutions, and corporates.
There are around 68 AICs established in many states of India, by which more than 2200 startups have been supported. There are 625 women startups out of these startups, which are supported by AICs. More than 30200 jobs have been created by these startups and more than 1000 programs have been organized.
This is the list of Some names of AICs located across the country –
- AIC@36INCSociety (Raipur)
- AIC Aartech Solonics Pvt Ltd ( Raisen, MP)
- AIC AAU Incubator (Assam)
- AIC Ambedkar UniversityDelhi Foundation ( Delhi)
- AIC ADT Baramati Foundation ( Maharashtra)
- AIC Banasthali Vidyapith ( Rajasthan)
- AIC NITTE Incubation Center ( Karnataka)
Objectives of the AICs
These incubation centres aim to foster and support world-class innovation, and dynamic entrepreneurs who aspire to build scalable and sustainable enterprises. In addition, most of the AICs set up will be sector-specific in areas like manufacturing, transportation, energy, health, education, agriculture, water, sanitation, Internet of Things, cyber security, etc. to foster unprecedented technological innovation in these areas.
Functions of AICs
- Helping Incubates Build a Sustainable, Scalable, and Profitable Business Model
- It provides physical infrastructure and value-added support services.
- Build a strong network of mentors providing field-specific knowledge and real-world practical guidance.
- It conducts events and inspirational programs.
- It provides training and mentorship to entrepreneurs.
- Build partnerships and networks with academia, industry, funding sources, existing incubators, and more to leverage startups.
- It enables access to prototyping facilities, testbeds, markets, and pilot implementations for products/services.
- It builds a strong team with ample knowledge and experience in guiding start-ups, formulation of business plans, facilitating investments, building networks, etc.
Academic institutions such as higher educational institutions, R&D institutions, etc. as well as non-educational institutions like corporate sector enterprises, alternative investment funds registered with SEBI, business accelerators, individuals and groups of individuals, etc. are eligible to apply.
AIM will provide grant-in-aid up to Rs. 10 crores for a maximum period of 5 years to cover the capital and operating expenses for setting up the proposed AIC.
Requirements of Infrastructure
The applicant entity shall provide at least 10,000 square feet of ready-to-use, built-up space for the exclusive use of the proposed AIC.
Frequently asked questions (FAQs)
What is an incubation centre?
Incubation is a unique and highly flexible combination of business development processes, infrastructure, and people, designed to help new and small businesses grow and develop in the early stages of growth and change.
What is the aim of an incubator?
Incubators are institutions that help entrepreneurs to grow their businesses, especially in the early stages. These institutions are designed to accelerate the growth and success of start-ups and early-stage companies.
Who established Atal incubation Centre?
AIC is a not-for-profit company established by CODISSIA in Coimbatore, Tamil Nadu in 2019 and is supported by Atal Innovation Mission (AIM), NITI Aayog, and the Ministry of Defence, Government of India.