PIB Press Releases

Atal Innovation Mission inaugurates ACIC-CBIT Research and Entrepreneurship Foundation in Hyderabad

Dr Chintan Vaishanv, Mission Director, Atal Innovation Mission, NITI Aayog inaugurated the ACIC-CBIT centre on Tuesday, January 31st 2023 in Hyderabad. The AIM team visited the centre to understand the different lab setups, technology and infrastructure for incubatees. Along with the inauguration of the centre, ACIC-CBIT hosted the first Startup 20X event in the form of talks from four startup founders working in different areas ranging from infrastructural development, millet manufacturing, mental health and upskilling rural innovators. These startups are working to bring about change for the betterment of the community and the nation at large.

Speaking during the event Dr Chintan said; “Communities play a very important role in our lives and motivating innovators from the grassroots is an essential part of building an inclusive startup ecosystem across the country which is possible through the support of on-ground institutions like ACICs working closely to transform this idea into action”.

Speaking at the first-ever Startup 20X event, he quoted; “Startup Policy Forum called Startup 20X has been conceptualized to democratize the basis of startups and startup ecosystems around the world to have a say in the Global Startup Policymaking. This forum will provide a platform for startups to voice their story and talk about the work they do on-ground.”

Principal CBIT and Director of ACIC CBIT, Prof. P. Ravinder Reddy also shared his vision of the startup ecosystem around the CBIT and how they can be nurtured through their support. During the event, MoUs with partners were also exchanged to build a collaborative startup and innovation ecosystem in the region. The event witnessed enthusiastic entrepreneurs showcasing their products and work targeting sustainable development goals. It was encouraging to see the young budding entrepreneurs showcase the energy and motivation to do good for their community.

Atal Innovation Mission inaugurates ACIC-CBIT Research and Entrepreneurship Foundation in Hyderabad
Photo credit-Press release by PIB



ACIC-CBIT has been established with the aim to build a community innovation and entrepreneurship ecosystem to nurture innovators and startups in unserved and underserved regions. ACIC believes in and mandates the creation of a strong community innovation ecosystem to include expert mentors; access to infrastructural support such as maker space; funding facilitation; building capacities through training and mentoring.

ACIC CBIT Foundation Sectoral Areas and Targeted SDGs:

 Sectoral Focus Areas:

–          Health-tech

–          AI/ML/IoT Based Smart Engineering Products

–          Renewable Energy & Environmental Sustainability

  Targeted SDGs:

  • Good Health & Well-being (Goal 03 in UN SDGs)
  • Industry Innovation & Infrastructure (Goal 09 in UN SDGs)            
  • Sustainable Cities and Communities (Goal 11 in UN SDGs)

Startups and Innovators supported to date by ACIC-CBIT

  • 37 innovators supported
  •  Out of 37 start-ups supported, 12 are female-led

About Atal Innovation Mission (AIM):

AIM is the Government of India’s endeavour to promote a culture of innovation and entrepreneurship. Its objective is to serve as a platform for the promotion of world-class innovation hubs, grand challenges, start-up businesses, and other self-employment activities, particularly in technology-driven areas.

Disclaimer: This is an official press release by PIB.

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