News Update

Atal Innovation Mission Introduces Assessment Framework for Startup Incubation Centers

• ByStartupStory     |    August 4, 2023

The Atal Innovation Mission (AIM), which operates under NITI Aayog, has introduced an assessment framework for evaluating startup incubation centers to ensure consistency and effective evaluation. Developed in collaboration with IIT Delhi and the World Bank, the framework comprises 23 key performance indicators (KPIs) divided into three categories: inputs, processes, and outputs or outcomes.

The input category focuses on financial, governance, and human factors related to the incubator’s funding, management, and team capabilities. The process category assesses the operational aspects, including the services and support provided to startups. The output or outcome category measures the economic impact generated by the startups supported by the incubator.

Of this, around Rs 1,500 crore is from public resources, while private funding accounts for approximately Rs 400 crore. The remaining funds have been sourced through corporate social responsibility (CSR) initiatives.  The primary objective of the framework is to offer a comprehensive approach for evaluating and benchmarking incubators, providing guidance to ministries and grantee organizations in India and around the world,” Chintan Vaishnav, mission director, AIM, said.

“The framework aims to establish a standardized approach for assessing and benchmarking the performance of these incubators,” AIM said in the framework released on Thursday.  The framework was piloted across the Atal Incubation Centers (AICs) in India, and AIM feels that the framework will promote transparency and accountability in the incubator ecosystem.

“By utilizing the standardized approach, ministries, grantee organizations, and other stakeholders can make informed decisions, identify areas for improvement, and foster the growth of high-performing and impactful incubators,” Vaishnav added.

India has over 700 active incubators, with approximately 450 of them receiving support exceeding Rs 2,100 crore from various ministries and departments under central or state government schemes. The funding sources include public resources (around Rs 1,500 crore), private funding (approximately Rs 400 crore), and corporate social responsibility (CSR) initiatives.

 

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