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बेसिक इंग्लिश का दूसरा सत्र (कक्षा प्रारंभ : 22 अक्तूबर, शाम 3:30 से 5:30)
Panel Suggests Rs. 30 Crore Reward for Innovative Entrepreneurs
Oct 29, 2015

A cash prize of up to Rs. 30 crore for innovative entrepreneurs and setting aside 1 per cent of corporate profits to encourage out-of-the-box thinking are some of the proposals suggested by the panel formed under NITI Aayog.

Key Recommendations

  • The panel was led by noted academician Tarun Khanna to suggest ways to promote innovation and build an entrepreneur-friendly ecosystem to drive job growth.

  • The panel is set to give detailed recommendations for promoting innovation and entrepreneurship and contours of Atal Innovation Mission (AIM) and Self-Employment & Talent Utilisation (SETU).

  • The panel has also given its detailed suggestions on structure of AIM and SETU explaining about the scope of role those will play in future.

  • The panel has said AIM will seek inputs from ministries concerned, including Science and Technology, to vet the decision to run specific Grand Challenges (Award).

  • According to the panel, each challenge (award) should carry a prize of Rs 10-30 cr for achieving a specific target in a time-bound manner.

  • It also suggested that AIM should mark a portion of the prize money to place orders for products and services of the winners as it would help create a market for those products, bringing the innovations to life.

  • The panel is high on research and development, which it says can be financed by harnessing corporate funds.

  • Making out a case for linkages between large corporates and research bodies in universities to promote innovation, the committee suggested that one per cent of corporate profit be directed towards research labs in universities or industry-university collaborative research.

  • Providing tax sops to boost such investments by corporates, the panel thinks, can be one of the ways to transform universities into a breeding ground for new technology and ideas.

  • To boost the spirit of collaboration, it has mooted a Make in Universities programme which would involve setting up 500 tinkering labs with one 3D printer per institute and trained people to operate the same.

Atal Innovation Mission: In the General Budget for 2015-16 Finance Minister Arun Jaitley announced to establish the ATAL Innovation Mission (AIM) in NITI Aayog. AIM is an Innovation Promotion Platform involving academics, entrepreneurs and researchers and draw upon national and international experiences to foster a culture of innovation, R&D and scientific research in India. The platform will also promote a network of world-class innovation hubs and Grand Challenges for India. Initially a sum of Rs.150 crore is earmarked for this purpose.

Self-Employment & Talent Utilisation (SETU): The Government has established a mechanism to be known as SETU (Self-Employment and Talent Utilisation) under NITI Aayog. SETU will be a Techno-Financial, Incubation and Facilitation Programme to support all aspects of start-up businesses, and other self-employment activities, particularly in technology-driven areas.


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