Cabinet Approves INR 2,750 Cr Atal Innovation Mission 2.0

Fintech Startups Saw 500% Growth In Last 10 Years, Raised Over $31 Bn Funding: PM Modi

SUMMARY

Union cabinet has approved the continuation of the Atal Innovation Mission (AIM) under NITI Aayog with an expanded scope and a budget of INR 2,750 Cr

The initiative will also focus on deeptech through the launch of a research sandbox, Deeptech Reactor

Notably, under its Atal Incubation Centres (AIC), the initiative has operationalised 69 incubators across eight states and three union territories

The union cabinet has approved the continuation of the Atal Innovation Mission (AIM) under NITI Aayog with an expanded scope and a budget of INR 2,750 Cr until March 2028.

The initiative aims to strengthen India’s innovation and entrepreneurship ecosystem, focusing on job creation, improving startup success rates, and delivering better-quality outcomes.

“With India at rank 39 on the Global Innovation Index and home to world’s third-largest startup ecosystem, the next phase of Atal Innovation Mission (AIM 2.0) is expected to further enhance India’s global competitiveness,” the government said in a statement.

AIM 2.0 will also have several new programmes to address gaps in the startup ecosystem.

For instance, the Language Inclusive Programme of Innovation (LIPI) will establish 30 vernacular innovation centres to support non-English-speaking innovators, while the frontier program will create 2,500 new Atal Tinkering Labs in regions like Jammu and Kashmir, North Eastern states, and aspirational districts.

The initiative will also focus on deeptech through the launch of a research sandbox, Deeptech Reactor. Besides, 10 industry accelerators will be set up in critical sectors through public-private partnerships.

Further, state governments will receive support under the State Innovation Mission to build regional hubs, and international collaborations will promote India’s innovation models globally through programmes like the Global Tinkering Olympiad and bilateral partnerships.

Building on AIM’s first phase, which established over 10,000 Atal Tinkering Labs and multiple incubation centers, AIM 2.0 will prioritise scaling proven models, fostering regional innovation, and deepening industry participation to boost India’s position as a global innovation leader.

The Indian government launched AIM in 2016 to promote a culture of innovation and entrepreneurship. Since then, under its Atal Incubation Centres (AIC), the initiative has operationalised 69 incubators across eight states and three union territories.

In 2020, AIM also collaborated with NASSCOM to launch an AI-based educational module for school students. The programme was launched to reach about 2.5 Mn students associated with Atal Tinkering Labs (ATL), which aims to impart technical knowledge and skills to the students.