NITI Aayog, UNDP, AIM launch youth lab prog for entrepreneurs to accelerate innovation

In a latest initiative to recognize young people as critical drivers of sustainable development, Atal Innovation Mission (AIM), NITI Aayog and United Nations Development Programme (UNDP) India on Friday launched Youth Co:Lab, a youth lab programme which aims at accelerating social entrepreneurship and innovation in young India.

To mark the launch, a Letter of Intent (LOI) was signed between AIM, NITI Aayog and UNDP India.

About Youth Co:Lab

1. Through Youth Co:Lab, young entrepreneurs and innovators will get a chance to connect with governments, mentors, incubators and investors, who will help equip them with entrepreneurial skills.

2. The initiative will also convene a series of youth dialogues across several cities such as New Delhi, Hyderabad, Bangalore and Mumbai to promote entrepreneurship across India.

3. AIM and UNDP, as part of UNSDF signed between NITI Aayog and UN India, are collaborating to spread awareness about different issues pertaining to youth, the future of work and the Sustainable Development Goals (SDG) through Youth Co:Lab.

#Innovation & talent in India comes from not just urban areas but rural areas as well. With #Youthcolab, we are going to encourage all start-ups to see how we can make social outcomes more relevant & impactful: R. Ramanan, Mission Director, #AimToInnovate, @NITIAayog pic.twitter.com/l5YIdvM2Go UNDP India (@UNDP_India) October 4, 2019

First phase of Youth Co:Lab

The first phase of Youth Co:Lab will focus on six SDGs:

• SDG 5 (Gender Equality)
• SDG 6 (Clean Water and Sanitation)
• SDG 7 (Affordable and Clean Energy)
• SDG 8 (Decent Work and Economic Growth)
• SDG 12 (Sustainable Consumption and Production)
• SDG 13 (Climate Action)

Critical for India to create robust employment ecosystem: Mission Director

Sharing his views on the significance of youth-led entrepreneurship, Mission Director Ramanan Ramanathan said that "youth entrepreneurship has immense potential benefits and the most significant one is that it creates huge employment opportunities in the country."

In a quest to achieve #SDGs through leadership, social #innovation & #entrepreneurship, AIM @NITIAayog is proud to join hands with @UNDP_India for Youth Co:Lab India. #YouthColabIndia #AIMtoInnovate

Apply now - https://t.co/kRhiTRzDzo
For more info- https://t.co/C9gU0mQHgG pic.twitter.com/987oQhM0un AIM (@AIMtoInnovate) October 4, 2019

Youth to get chance to showcase ideas at national/sub-national level

Targeted at supporting young people overcome challenges, UNDP and AIM, NITI Aayog will empower young people through innovative development ideas.

In this regard, Youth Co:Lab will convene social innovation challenges at the national and sub-national level, which will invite young people in the age group of 18-29 years and start-ups to showcase their proposed ideas and solutions to tackle some of the region’s biggest social challenges.

They will also get the opportunity to pitch their ideas at UNDP’s regional centre in 2020.

Here's how to apply:

Aspiring entrepreneurs or nascent entrepreneurs (with less than three years of experience) can submit their ideas at http://aimapp2.aim.gov.in/youthcolab2019/entry.php before November 4, 2019.

Selected applicants will be invited for a national innovation challenge, where each winning start-up will get an opportunity to incubate and strengthen their ideas at the Atal Incubation Centres.

Read | How entrepreneurship education can help make job creators: 3 ways B-schools can help

Read | India needs to move away from the Anglo-Saxon system of education: Niti Aayog CEO Amitabh Kant

Read | Unicef, Niti Aayog tie up for children empowerment