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Innovation Level

Delhi 

The Department of Science & Technology has launched a new programme National Initiative for Developing & Harnessing Innovations (NIDHI) last year which covers the entire value chain of innovations starting from idea to commercialization. .

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To promote innovation focused start-ups some of the key initiatives taken by the government are: .

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1. National Institution for Transforming India (NITI) Aayog is implementing Atal Innovation Mission (AIM) for promoting Incubators and Tinkering Labs. .

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2. Ministry of Human Resource Development (MHRD) and Department of Science and Technology (DST) have joined hands to promote Research Parks in the country. .

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3. Department of Industrial Policy and Promotion (DIPP) in association with Small Industries Development Bank of India (SIDBI) has set up a Rs.10,000 crore Fund to invest in Venture Capital Funds to promote innovations and start-ups. .

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4. Ministry of Micro Small and Medium Industries has a programme to setup incubators in the Agriculture sector, under the ASPIRE (A Scheme For Promoting Innovation, Rural Industry & Entrepreneurship) programme. .

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5. Department of Bio-Technology has a programme to promote incubators in the Bio-tech sector under the Biotechnology Industry Research Assistance Council (BIRAC) programme. .

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6. MHRD has also launched a Smart India Hackathon for involving Engineering students to provide solutions to problems faced by Government Departments. .

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In short there is a concerted effort by the government to promote innovation for addressing the problems and challenges faced by the country. .

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This information was given by Minister of State for Ministry of Science & Technology and Ministry of Earth Sciences Shri Y.S.Chowdary in a written reply to a question in Lok Sabha today. .

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 26 2017. 00:21 IST