The SETU scheme’s resources would be devoted to strengthening incubators and setting up ‘tinkering labs’ where ideas can be shaped into prototypes before they are ripe for funding.
- The government can finally start deploying funds from the Self-Employment and Talent Utilisation (SETU) scheme and the Atal Innovation Mission (AIM).
- To promote startups and scientific research, after over 10 months of spadework.
- AIM would focus on inviting aspiring entrepreneurs to solve India’s contemporary socio-economic problems via ‘grand challenges’.
- That offer substantial awards to incubate and scale up winning ideas.
- An overarching supervisory body with about 10 members is being formed to oversee the allocation of funds under the schemes to line ministries.