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

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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

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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.

Exam Track

Prelims Takeaway

  • Valley of Death
  • Venture Capitalists(VCs)
  • Atal Innovation Mission
  • NITI Aayog