UP Chief Minister interacts with National Statistical Commission (See 'Corp Brief') Chouhan visits 'Samanyu Honey' Beekeeping Centre in Punjab (See 'Corp Brief') India strengthens Global Leadership in Spice Standards at 8th Codex Committee (See 'Corp Brief') IBC - Speculative participants driven purely by profit motives can't be permitted to misuse insolvency & bankruptcy code, which is remedial framework conceived for revival and protection of companies: SC (See 'Legal Desk') CCI okays acquisition of Cloud4C Services by Capgemini SE (See 'Corp Brief') DTNBWED and UPBOCWWB join hands to empower Construction Workers through Skill Development (See 'Corp Brief') IBC - IBC has a rehabilitative intent; companies revived through a resolution plan cannot be arbitrarily excluded from government tenders: HC (See 'Legal Desk') Ministry of Labour joins hands with Zomato to strengthen Gig Economy (See 'Corp Brief') Give preference to 'Made in India' products': Chouhan (See 'Corp Brief') A&C - In large-scale infrastructure projects, quantification of actual loss resulting from time overruns is often impracticable, and law does not mandate proof of precise loss if parties have agreed to mechanism of reasonable compensation: HC (See 'Legal Desk') Vaishnaw announces Enhanced Technological Upgrades and New Training Initiatives for RPF (See 'Corp Brief') Ministry of Minority Affairs establishes Centres of Excellence to Promote Heritage and Classical Languages (See 'Corp Brief') Mentorship cum acceleration sessions are arranged for 18 Start-ups (See 'Corp Brief') Joshi to preside over World Standards Day 2025 Celebrations (See 'Corp Brief') A&C - Award granted by arbitral tribunal for interest can't be challenged, just because in agreement between parties, there is no stipulation for awarding interest: HC (See 'Legal Desk') DoPPW to conduct Nationwide Digital Life Certificate Campaign 4.0 (See 'Corp Brief') Kharif sowing area increases by 6.51 lakh hectares: Chouhan (See 'Corp Brief') PM GatiShakti marks 4 years with launch of transformative Initiatives: Goyal (See 'Corp Brief') PC Act - Economic offences require different approach when considering bail, especially where offence involves deep-rooted conspiracy, fraudulent documentation, and abuse of fiduciary positions: HC (See 'Legal Desk') ANRF Executive Council okays move for operationalization of RDI Fund (See 'Corp Brief') MoS participates in 'Recognition Ceremony of Forest Rangers' in Abu Dhabi (See 'Corp Brief') MoS holds interaction on governance innovations with representatives from 19 countries (See 'Corp Brief') Arbitration & Conciliation Act - provisions of Rule 11 of 2021 Rules & Section 18(3) of 2006 Act facilitate arbitration as a means of dispute resolution & merely adopting different routes does not render either process illegal or ultra vires: HC (See 'Legal Desk') Roadmap unveiled for development of 100 GW Nuclear Capacity by 2047 (See 'Corp Brief') CCL launches Special Cover Dedicated to Coal Warriors and Coal India's Legacy (See 'Corp Brief') PMLA - In money laundering case, modus operandi often involves circuitous and opaque ftnancial transactions, making direct evidence inherently difficult to obtain: HC (See 'Legal Desk') From Bharat to Belem: Delhi Declaration Sets Stage for COP30 (See 'Corp Brief') Competition Act - Appropriate application u/s 33 can be sought seeking interim orders in line with interim order previously passed by Competition Commission: HC (See 'Legal Desk') NeGD to join hands with Bharat Taxi (See 'Corp Brief') IPR - Threshold for invoking Sec 48(a) of Patents Act that grants patentee exclusive right to prevent third parties from selling or offering for sale patented product without patentee's consent, is merely 'offer for sale' and not necessarily actual sale: HC (See 'Legal Desk') India, UK commit £24 Million to Drive Research, Innovation, and Global Standards in Telecommunications (See 'Corp Brief') Misc - It is not mandatory for Appellate Court to impose condition for deposit of amount in dispute for grant of stay of execution under Order XLI Rule 5 of CPC: SC (See 'Legal Desk') Yadav chairs High-level Review Meeting on Air Pollution in Delhi NCR (See 'Corp Brief') PMLA - If no case was made out for quashing cognizance order or ED's complaint, appropriate course was to allow statutory process to reach its conclusion through mechanism provided under PMLA: SC (See 'Legal Desk') Union MoS Dr. Pemmasani Chandra Sekhar felicitates IMC award winners (See 'Corp Brief') SARFAESI - Apprehension of urgency or adverse impact on rights of parties due to delay in enforcement does not automatically warrant grant of interim relief or exemption from procedural mandates such as pre-institution mediation u/s 12A: HC (See 'Legal Desk')

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MoS advocates early industry linkage for Start-Up Sustainability

Published: Jan 09, 2025

By TIOLCorplaws News Service

NEW DELHI, JAN 09, 2025: UNION Minister of State (Independent Charge) for Science and Technology; Earth Sciences and Minister of State for PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, Dr. Jitendra Singh, yesterday called for early industry linkage to ensure sustainable of StartUps, advocating for a collaborative funding approach that fosters accountability and shared responsibility in innovation. "A joint investment model, where industry and government work hand-in-hand, guarantees mutual commitment and nurtures an innovation ecosystem built on cooperation and shared stakes," he emphasized.

The Minister emphasized the need for a robust and inclusive innovation ecosystem during the Atal Innovation Mission (AIM) High-Level Committee Meeting at NITI Aayog today. He highlighted AIM 2.0 as a pivotal step towards fostering entrepreneurship, enhancing public-private partnerships (PPP), and integrating industry linkages to sustain start-ups and drive India's innovation agenda forward.

Lauding the efforts under AIM 1.0, Dr. Jitendra Singh attributed its success to the enabling policies introduced post-2014 under the leadership of Prime Minister Narendra Modi. "While we have always had the talent, the transformation has been catalyzed by the visionary policies of the Prime Minister, enabling initiatives like AIM to flourish," he remarked.

Acknowledging concerns about AIM 2.0's transition into a ministerial framework, the Minister called for a structure that retains the mission's intellectual and creative independence. "We need a model that supplements efforts without stifling innovation," he stated, suggesting a hybrid framework similar to those adopted in other sectors like space and biotechnology.

The Minister also addressed the need for an aspirational framework to rate start-ups based on key indices such as publication impact, start-up viability, and livelihood generation. "Our innovation ecosystem must ultimately contribute to creating livelihoods; otherwise, its impact remains limited," he observed.

Dr. Jitendra Singh highlighted India's scientific achievements, pointing to recent breakthroughs such as gene therapy trials published in prestigious journals like the New England Journal of Medicine. He emphasized the importance of global recognition through high-standard publications, urging Indian researchers to aim for international benchmarks to bolster confidence and credibility.

In a call for inclusivity, the Minister advocated for a language-neutral approach to innovation, with a focus on equitable opportunities across India's diverse linguistic landscape. He urged stakeholders to address translation challenges that could inadvertently disadvantage regional participants.

Concluding his remarks, Dr. Jitendra Singh expressed optimism about AIM's future, envisioning a progressive trajectory towards AIM 3.0 and beyond. "Our journey of innovation is far from over. With strengthened partnerships and an expanded ecosystem, we aim to position India as a global leader in innovation," he declared.

The AIM High-Level Committee Meeting brought together policymakers, industry leaders and academic experts to deliberate on the roadmap for AIM 2.0, with a shared commitment to fostering a vibrant and sustainable innovation ecosystem in India.

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