Innovation Current Affairs

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Startup and Innovation policy of Tamil Nadu

The government of Tamil Nadu has released Startup and Innovation policy 2018-2023 with a mission of providing an enabling and innovative ecosystem for startups registered in the State and to make Tamil Nadu a ‘Global Innovation hub for startups’ by 2023.

Objectives of the Policy

The core objectives of the Startup and Innovation policy 2018-2023 are:

  • Creation of at least 5000 technology startups of which at least 10 global high growth startups in social impact sectors.
  • Infrastructure support to strengthen existing mechanism in areas like the Internet of Things (IoT), Artificial Intelligence (AI), Machine Learning (ML) and Software as a Service (SAAS)

Components of the Policy

The important components of the Startup and Innovation policy 2018-2023 are:

  • The policy aims to collaborate with educational institutions to promote entrepreneurial spirit, reduce existing regulatory and tax burden on startups in the field of labour, pollution and building norms.
  • The policy aims to partner with reputed investors across the globe to bring investment to the Tamil Nadu startups.
  • The policy envisages nurturing aspiring entity or individuals (defined as ‘Start Steps’) who develops a potentially scalable business model that can generate wealth and employment.
  • Entrepreneurship Development Institute of India (EDII) will act as a nodal agency to promote and facilitate startups.
  • Tamil Nadu Startup and InnovaTN Mission (TANSIM) headed by a full-time officer will advocate and oversee policies and programmes for promoting startups.
  • Tamil Nadu Startup Seed Grant Fund (TNSSGF) of Rs 50 crore with an allotment of Rs 5 crore in the first year in partnership with financial institutions and universities for supporting early-stage financing requirements of the startups in the form of grants to fill the gap in fund requirement for research & innovations.

Implementation of the Policy

The government of Tamil Nadu has set a 5-point action plan for implementing the policies. It includes:

  • Creating ecosystems for encouraging innovations.
  • Ensuring resources availability to Startup ecosystem.
  • Enabling skill development and job creation.
  • Supporting social entrepreneurship.
  • Establishing global accessibility and partnerships.

Definition of the Start-up

The policy lists the following criterions to be recognised as the start-up in Tamil Nadu:

  • Registration under Tamil Nadu Startup and InnovaTN Mission (TANSIM).
  • Date of incorporation less than 7 years (less than 10 years in case of biotechnology, AI and ML startups).
  • Registration and turnover less than Rs 25 crore in any of the financial years.

The policy aims for a minimum of 1,00,000 high skilled job creation, direct and indirect, in the Startup Ecosystem.

Month: Categories: States Current Affairs - 2018UPSC Current Affairs - 2019

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Atal Tinkering Lab Handbook Released

The Atal Tinkering Lab Handbook Nayee Dishayen, Naye Nirman, Naya Bharat was released by the NITI Aayog’s Atal Innovation Mission.

During the occasion an announcement of 10 Month Student Entrepreneurship Programme to help the top six innovations across six crucial themes having broader social impact, namely, Clean Energy, Waste Management, Agritech, Healthcare, Smart Mobility and Water Resources under the Atal Tinkering Marathon 2017 to transform these innovative prototypes into functioning, scaled and Go-to-Market products was made.

Atal Tinkering Lab Handbook Nayee Dishayen, Naye Nirman, Naya Bharat

The Atal Tinkering Lab Handbook together with capturing the experiences of the young innovators of the country with the Atal Tinkering Lab, provides for a compendium of guidelines, resources, methodologies, key learning, case studies of the ATL ecosystem.

The handbook showcases the outcome and impact that is being created by the Atal Tinkering Labs has been showcased, including some case examples of celebrating and rewarding innovation, over the last two years.

The Handbook also serves as an action plan to provide for a smooth scale-up approach for the Atal Tinkering Lab initiative, via the public-private-partnership and Centre-State cooperation.

Atal Innovation Mission

Atal Innovation Mission (AIM) is the Government of India’s flagship initiative to promote a culture of innovation and entrepreneurship in the country.

AIM aims to create an umbrella structure to oversee innovation ecosystem of the country and revolutionize the innovation eco-system by touching upon the entire innovation life cycle through various programs.

While the Atal Tinkering Laboratories under the Atal Innovation Mission aims to create innovators and the Atal Incubation Centres would provide support to these innovations to scale up to market and helps to create enterprises around these innovations.

Month: Categories: India Current Affairs 2018UPSC Current Affairs - 2019

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