aim-launches-indiaaustralia-circular-economy-hackathoni-ace

Context: AIM (Atal Innovation Mission), in association with Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO), is organizing a ‘India–Australia Circular Economy Hackathon (I-ACE)’.

About

  • The idea of I-ACE was mooted during a virtual summit between the Indian and Australian prime ministers, exploring innovative ways to boost the circular economy in India and Australia.
  • I-ACE will focus on development of innovative technology solutions by startups and MSMEs of both nations.

The four key themes for the hackathon are as follows:

  1. Innovation in packaging reducing packaging waste
  2. Innovation in food supply chains avoiding waste
  3. Creating opportunities for plastic waste reduction
  4. Recycling critical energy metals and e-waste

Significance:

  • R&D partnership: By coming together, India and Australia can align research and developmental efforts to achieve more.
  • Circular economy: In the long run a circular economy model will provide more jobs and higher economic growth. 
    • It will also reduce cost, drive innovation and have significant environmental benefits.
    • This is a very important initiative to make our economy less resource intensive and ensure our economic growth is ecologically compatible.

Atal Innovation Mission

The Atal Innovation Mission (AIM) is a flagship initiative set up by the NITI Aayog:

  • To promote innovation and entrepreneurship across the length and breadth of the country, based on a detailed study and deliberations on innovation and entrepreneurial needs of India in the years ahead.
  • AIM is also envisaged as an umbrella innovation organization that would play an instrumental role 
    • In alignment of innovation policies between central, state and sectoral innovation schemes 
    • Incentivizing the establishment and promotion of an ecosystem of innovation and entrepreneurship at various levels - higher secondary schools, science, engineering and higher academic institutions, and SME/MSME industry, corporate and NGO levels.

AIM has adopted a holistic framework in the achievement of its objectives.

  1. Atal Tinkering Labs – to promote creative, innovative mindset in schools.
  2. Atal Incubators – to promote entrepreneurship in universities and industry.
  3. Atal New India Challenges and Atal Grand Challenges - to promote specific product innovations with social / economic impact.
  4. Mentors of Change – to mentor students at ATL and AIC Incubators / Startups.

Image source: Wikipedia