In collaboration with the Indian Space Research Organisation (ISRO) & four other ministries, the government of India launched ARISE – Atal New India Challenges programme in order to support the small businesses and MSMEs. The step is in alignment with the vision of making India Aatmanirbhar and less dependent on the imports and products of foreign companies. The aim is to build and promote businesses in India that are innovative, based on problem-solving, technology-driven, and are more towards Research & Development (R&D).
NITI Aayog announced 15 challenges so that the Indian startups and MSMEs could go for a grant of Rs.50 lakhs each, which will be given in 3 portions. There are 3 challenges across 5 industries and there will be 2 winners, the criteria also specifies that the candidates at a high stage of R&D level or with initial prototypes will be nominated.
The 5 industries proposing the challenges are the ISRO, Ministry of Housing and Urban Affairs, Ministry of Health and Family Welfare, Ministry of Defence, and Ministry of Food Processing Industries. The challenges under each industry focus on what they operate in. The decision-making process for the initiative can be completed within 15-20 days through a digitized system.
MSME is one of the fastest-growing sectors in the Indian economy, this initiative is to boost the identified innovations in the sector and to motivate the culture of entrepreneurship in the country. Click here if you want to apply for the challenges with your startup or business.
For more details on the challenges of each ministry, read the article here.