Union Cabinet supports foundation of Atal Innovation Mission and SETU in NITI Aayog

Union Cabinet supports foundation of Atal Innovation Mission and SETU in NITI Aayog

  • The Union Cabinet as given its endorsement for foundation of Atal Innovation Mission (AIM) and Self Employment and Talent Utilization (SETU) in NITI Aayog.
  • Union Cabinet chaired by the Prime Minister Narendra Modi on 24 February 2016 gave its nod for a proposal to establish Atal Innovation Mission (AIM) and Self Employment and Talent Utilisation (SETU) in NITI Aayog with appropriate manpower.
  • It was observed that AIM is a mission and SETU is an approach to encourage innovation ecosystem and entrepreneurship.
  • The proposed Mission activities will be implemented in a focused manner with the establishment of AIM and AIM Directorate.

Features of the Mission

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  • Mission High Level Committee (MHLC) would guide the Mission to take all decisions relating to approval of requisite guidelines which include Grand Challenge areas, prize money and implementation of various elements of AIM and SETU.
  • Mission Director and other appropriate manpower will be hired by NITI Aayog.
  • They will be established with an initial sum of 500 crore rupees and 1000 crore rupees respectively.
  • New Delhi will be headquarters to the Mission.