Banasthali one among the top 10 institutions selected by NITI Aayog for Atal Incubation Centre

Women are 1.17 times more likely than men to create social ventures rather than only economic ventures, and 1.23 times more likely to pursue environmental ventures than economic-focused ventures, according to Global Women's Entrepreneurship Research.

Banasthali, Rajasthan, July 6, 2017 /India PRwire/ -- India is home to the third largest number of technology driven startups in the world, with the US and the UK occupying the top two positions. Economists and academics agree women entrepreneurs are an under-tapped force that can rekindle economic expansion. Research confirms women make better entrepreneurs. Women entrepreneurs are articulate, tenacious and ambitious. Women are proving themselves to be more than capable as they are confident believe in themselves and have drive and urgency to take on the best in the business.

Atal Innovation Mission of National Institution for Transforming India NITI Aayog is Government of India's endeavor to promote a culture of innovation and entrepreneurship. The Innovation promotion for generation of new ideas involves a three pronged strategy of setting up of Atal Tinkering Labs (ATLs) at School level, Atal Incubation Centres (AICs) at higher education institutions & R&D Laboratories etc and Scale up support to established incubation centres (EICs)

Atal Incubation Centres (AICs) that would nurture innovative start-up businesses in their pursuit to become scalable and sustainable enterprises. The AICs would create world class incubation facilities across various parts of India with suitable physical infrastructure in terms of capital equipment and operating facilities, coupled with the availability of sectoral experts for mentoring the start-ups, business planning support, access to seed capital, industry partners, trainings and other relevant components required for encouraging innovative start-ups.

3,658 institutions of which 1719 were academic which included both government and non government competed to host the incubation centre. The four stage selection process included screening for checking eligibility and proposal strength, data cleaning to remove invalid duplicate applications, evaluation based on scores against multiple criteria, followed by presentation by short listed applicants and site visit.

Based on strong research and innovation ecosystem, forward plan for AIC, quality of proposed team in terms of qualifications and experience, sector focus, rural area location, overall infrastructure, capability to support startups, number of patents etc, its indeed a matter of great pride that Banasthali has been chosen in the first list of 10 institutions for hosting the 10-crore Atal Incubation Centre. Other institutions in the list include ISB Indian School of Business and CSIR CCMB Cenre for Cellular and Molecular Biology. The Incubation Centre at Banasthali would identify promising start-ups and create facilities to guide women to succeed in entrepreneurship and also serve as a platform for promotion of world-class Innovation Hubs, Grand Challenges, Start-up businesses and other self-employment activities, particularly in technology driven areas.

Apart from NITI Aayog AIC, the existing tie-up of Banasthali with SBBJ (SBI) and International Crop Research Institute for Semi Arid Tropics ICRISAT apart from ongoing discussions with Rajivika Rajasthan Grameen Aajivika Vikas Parishad and Jaipur Rugs Foundation are all set to fuel the entrepreneurship and innovation flame among women and keep the nation's flag flying always high.

For more details about Banasthali see http://www.banasthali.org

Notes to Editor

About Banasthali

The Institution which is also the largest fully residential women's university in the world has played a big role in revolutionizing women's education in the country for the last eight decades with a belief that there is a tremendous role of higher education in empowering the women. Banasthali has scripted numerous success stories in a wide range of fields, and stands tall among the citadels of learning in India today. Team Banasthali with Vice Chancellor J C Bose Memorial Award for eminent scientist recipient Prof Aditya Shastri a highly acclaimed alumnus of BITS Pilani, SUNY State University of New York Stony Brook and MIT USA is indeed racing forward to be the very best among global women universities. Proud to be Banasthali alumni who call themselves as Banasthalites can be found in all latitudes, longitudes and altitudes in all walks of life across the globe.

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One among the top ranking Institution in India today which is also the largest fully residential women's university in the world, Banasthali alumni can be found in all latitudes, longitudes and altitudes in all walks of life across the globe.