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Government to invest Rs. 200 Cr for scaling up existing incubators

10 applicants to be selected, each to produce Rs 20 crore!

About NITI Aayog

To replace the Planning Commission, NITI Aayog or the National Institution for Transforming India is a Government of India policy think-tank established by Narendra Modi government.

The Recent Announcement in Startup India’s state conference

Recently, NITI Aayog’s CEO Mr. Amitabh Kant said that the Government is going to identify 10 best incubators out of the existing 200. It will subsequently invest Rs. 200 crore on scaling up their capacity.NITI Aayog says that they have received 120 applications for the same. But they will select only 10 applicants and produce Rs. 20 crore to each of them.

NITI Aayog’s CEO, Mr. Kant further added that the government will invest Rs 20 lakh to support existing tinkering labs. He also said that the government is going to set up 100 new incubation centres this year. But, they have received 3,000 applications for it.

Contest aimed to solve problems in India

As per reports, the government is soon going to start a contest to find out solution for problems in India.Similarly, it will try it’s best to provide solutions to those problems. The challenge will include developing solution for farming to help farmers decide which seed should be sown in a particular season depending on soil and weather condition to get maximum output.

At the same time, the government will look at finding solution for sewage problem and solving water crisis as part of the contest.
“Grand challenge will be launched shortly. There is huge opportunity,” Kant said.

Do you this step by the Government will make a difference? Share your views in our comment box below.

Takeaways:-

  • Founded in 2015, NITI Aayogis a Government of India policy think-tank established by the Narendra Modi government.
  • Recently, NITI Aayog said that the Government is going to identify 10 incubators out of the 200 incubation centres already existing. Subsequently, it will invest Rs 200 crore on scaling up their capacity.
  • The selected 10 applicants are bound to produce Rs 20 crore each.

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