2nd edition of the Atal New India Challenge (ANIC 2.0)
- Atal Innovation Mission has launched the phase 1 of the 2nd edition of the Atal New India Challenge (ANIC 2.0) recently.
Atal New India Challenge
- 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.
Valley of Death
- 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.
- Valley of Death
- Venture Capitalists(VCs)
- Atal Innovation Mission
- NITI Aayog