NITI Aayog to support 50-youth led social startups, applications open

Interested startups can submit their application under the themes namely: Agriculture Fintech and Insurtech for small and marginal farmers, Innovative solutions for Indigenous groups, tribal communities and Assistive technology and solutions. Some of the startups will also be supported with seed grants.

Speaking at the launch, Resident Representative a.i. of UNDP (United Nations Development Programme) India Isabelle Tschan said, "India, with its significant youth population, enjoys the advantage of a demographic dividend, with nearly 40% aged between 13 to 35 years. However, to unlock the innovative potential of our youth, we must create opportunities and appropriate support mechanisms. At UNDP, we are committed to enhancing youth's access to opportunities, in partnership with the government, the private sector, and Civil society organizations."

Dedicated young entrepreneurs offering solutions that address tangible issues or foster meaningful co-innovation opportunities aged 18-29 are invited to apply. Selected winners and finalists will have the opportunity to participate in an online Springboard Programme to enhance their entrepreneurial and leadership skills. The teams that produce the best results in the programme will be able to showcase their business ideas at the Regional Youth Co:Lab Summit 2024, to be held in June, stated an official press release by NITI Aayog.

Speaking at the event Dr. Chintan Vaishnav, Mission Director of Atal Innovation Mission, NITI Aayog said "India has 700 million people under 30 yrs of age, and one in five workers across the globe will be Indian in the next twenty years. I see an infectious energy in the Youth Co:Lab's Innovation dialogue and its initiatives which is creating a space for young and ambitious people to come together and form networks dedicated to global welfare through the platform. All the three themes of this year's Youth Co:Lab have seen significant advancements over the past few years in India. AIM is also working with the Ministry of Agriculture and Farmers Welfare for creating a platform to support agri based start-ups. Similarly we are on the way to having many affordable and unique solutions in the Assistive Technology space. We in Atal Innovation Mission are helping in building India's first Assistive Tech Incubator in Bengaluru. I firmly believe that some of the major solutions to our sustainable development aspirations will come from communities and Youth Co:Lab is a great initiative towards that objective."

Co-created in 2017 by the United Nations Development Programme (UNDP) and Citi Foundation, Youth Co: Lab aims to establish a common agenda for countries in the Asia-Pacific region to empower and invest in youth so that they can accelerate the implementation of the Sustainable Development Goals (SDGs) through leadership, social innovation, and entrepreneurship.