2nd edition of the Atal New India Challenge (ANIC 2.0)

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Last Updated02/05/2022

Atal Innovation Mission has launched the phase 1 of the 2nd edition of the Atal New India Challenge (ANIC 2.0) recently.

It is a flagship program of Atal Innovation Mission, NITI Aayog.
It aims to seek, select, support and nurture technology-based innovations that solve sectoral challenges of national importance and societal relevance.
One of the primary goals of the ANIC program is to support innovations in areas critical to India’s development and growth – Education, Health, Water and Sanitation, Agriculture, Food Processing, Housing, Energy, Mobility, Space Application etc.
The challenge addresses the second Commercialization Valley of Death – supporting innovators scale over the risks associated with access to resources for testing, piloting and market creation.
Funding: The challenge supports selected start-ups through the commercialization stage over a course of 12 – 18 months with a funding of up to INR 1 crore along with other associated support from the AIM’s innovation ecosystem.

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It is an expression used by Venture Capitalists(VCs) to describe the critical initial phase of a startup company.
During this period, startup companies operate without any existing revenue, relying on their initial invested capital.
Surviving the Death Valley curve means beginning to generate sufficient revenue to become self-sustainable before the initial invested capital runs dry.
This is a significant milestone for startup companies.

Prelims Takeaway