In recent times, innovation has become one of the key drivers of economy across the world. Technology has permeated all spheres of work and innovation is invariably driven by technology in one way or the other. New-age emerging technologies like IoT, Block Chain, Artificial Intelligence, Data Analytics etc. are changing the paradigm & ways the world stores, analyses & processes information.
Innovation is driven by start-ups & entrepreneurs. Government of India has a special emphasis on start-ups & entrepreneurship. Accordingly, the Start-up India initiative was announced by Indian Prime Minister, Shri Narendra Modi during his independence day address in 2015. Subsequently, the action plan was taken-up on 16th January 2016. This initiative is based on three pillars: Simplifications & Handholding, Funding Support & Incentives and Industry-Academia Partnership & Incubation centers.
In order to support start-ups & entrepreneurship in domains of Healthcare, E-Commerce, ICT & Electronics and IoT, STPI in joint collaboration with Atal Innovation Mission, NITI Aayog is setting-up an Atal Incubation Centre at Bengaluru. Further, to build leadership and to build next wave of budding entrepreneurs across India and across emerging tech sectors Internet of things (IoT), Block Chain, FinTech, Artificial Intelligence (AI), Augmented & Virtual Reality (AR/VR), ESDM, Data Science & Analytics, Medical Electronics & Healthcare, Gaming & Animation, Machine Learning, Cyber Security etc., Government of India recently made announcement for setting up of CoEs by STPI in specific domains spread across India.