ANSWER: Only 1
Explanation:
- A panel on innovation under Chairmanship of Prof. Tarun Khanna was appointed to work out the detailed contours of Atal Innovation Mission (AIM).
- AIM would have 4 working groups: Idea and Networks, Angel Funds, Governance and Innovation and Missions.
Recommendations of a panel on innovation lead by Prof. Tarun Khanna:
- Improved tax benefits for investments equivalent to a percentage of corporate profits in research labs in universities and startups.
- All contracts with foreign defence companies above $5 billion should include a clause for five per cent of contract value to be directed to establish research-centric universities with strong emphasis on its core product areas in particular and broadly focused on the related areas in general.
- “Grand Prizes” approach to finding ultra-low-cost solutions to India’ s most intractable problems.
- Increase in investment in business incubators with up to Rs.200 crore public spending per year and roping in the private sector for the purpose.
- Establishing a ‘fund-of-funds (FOF)’ by the government to seed other early stage venture funds with a corpus of Rs.5,000 crore.
