● The Union Cabinet has approved the continuation of the Atal Innovation Mission (AIM), till March 2023. The Union Cabinet was chaired by the Prime Minister of India.
● The Union Cabinet also approved the targets of setting up 10,000 Atal Tinkering Labs (ATLs) as well as 101 Atal Incubation Centers (AICs).
● For the extension of the scheme, a fund of Rs 2,000+ crore has been allocated.
● Currently, programmes run under AIM cover all 34 states and Union Territories of the country and are inspiring others to join the innovation ecosystem.
● The objectives of the AIM are to create and promote an ecosystem of innovation and entrepreneurship across the country via educational institutions.
● Atal Innovation Mission (AIM) was established by the NITI Aayog.
● It is a flagship initiative launched in 2016.