The government’s Atal Innovation Mission (AIM), operating under NITI Aayog, has launched an assessment framework for startup incubation centres. Developed in partnership with IIT Delhi and the World Bank, the framework comprises 23 key performance indicators categorized into inputs, processes, and outputs.
Comprehensive Evaluation of Incubators’ Performances
The inputs category encompasses funding and resources, while governance factors focus on management and decision-making. Processes address the operational aspects of the incubator, and outputs concentrate on the economic impact of the startups supported by the incubators. With the implementation of this assessment framework, Atal Innovation Mission aims to establish a comprehensive and streamlined approach to evaluate and benchmark the performances of incubators.
Ensuring Consistency and Effective Comparison
The assessment framework will not only ensure consistency in evaluations but also enable effective comparisons among different incubators. By standardizing the evaluation process, the government can better gauge the contributions of each incubator to the startup ecosystem.
Also Read: Piyush Goyal meets senior Tesla executives to discuss manufacturing plant plans
Atal Innovation Mission Previous Initiatives to Foster Innovation
Atal Innovation Mission was launched by the Indian government in 2016. To promote a culture of innovation and entrepreneurship in the country. Under its Atal Incubation Centres (AIC), the initiative has already operationalized 69 incubators across eight states and three union territories, providing support to over 2,900 startups and creating more than 30,000 jobs.
Government’s Broad Support for Startups
Apart from the recent assessment framework, the Indian government has introduced several other initiatives to support startups in the country. These include the SIDBI Fund of Funds, Startup India Investor Connect, Startup India Seed Fund Scheme, Ebiz Portal, Atmanirbhar Bharat App Innovation Challenge, and more. The government’s commitment to fostering innovation and entrepreneurship continues to drive the growth and success of the Indian startup ecosystem.
