What is the News?
Atal Innovation Mission has launched the phase 1 of the 2nd edition of the Atal New India Challenge (ANIC 2.0)
What is Atal New India Challenge?
Atal New India Challenge is a flagship program of Atal Innovation Mission, NITI Aayog.
Aim: To seek, select, support and nurture technology-based innovations that solve sectoral challenges of national importance and societal relevance.
Goal: To support innovations in areas critical to India’s development and growth – Education, Health, Water and Sanitation, Housing, Energy, Mobility, and Space Application among others.
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.
What does Valley of Death mean?
The Valley of death 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.
Source: The post is based on the article “Atal New India Challenge 2.0 (ANIC 2.0) Launch” published in PIB on 29th April 2022.