MHRD’s Innovation Cell (MIC) organized the first Annual Innovation Festival in coordination with AICTE. During this festival, Innovation cell showcased more than 70 top students’ innovations from across India. Union Minister for Human Resource also launched the Smart India Hackathon 2020, Atal Ranking of Institutions on Innovation Achievements (ARIIA) 2020, and Institution’s Innovation Council 2.0. RACE IAS www.raceias.com Page 18 of 62 About Atal Ranking of Institutions on Innovation Achievements (ARIIA): ARIIA considers all major indicators which are commonly used globally to rank most innovative education institutions/ universities in the world. More than quantity, ARIIA will focus on quality of innovations and will try to measure the real impact created by these innovations nationally and internationally. ARIIA will primarily focus on 5 main parameters: 1. Budget Expenses and Revenue generated through Innovation and entrepreneurship development. 2. Facilitating access to advance centres / facilities and entrepreneurial support system. 3. Idea to Entrepreneurship. 4. Development of Innovation Ecosystems Supported through Teaching & Learning. 5. Best innovative solutions Developed In-house for Improving Governance of Your Institution. Significance of ARIIA: ● Inspire Indian institutions to reorient their mind-set and build ecosystems to encourage high quality research, innovation and entrepreneurship. ● Set the tone and direction for institutions for future development for making them globally competitive and in forefront of innovation. The MHRD, last year initiated the separate Innovation cell with support from AICTE to foster a culture of innovation in all educational institutions of India. As India aspires to be 5 trillion-dollar economy by 2024, India needs to emerge as global innovation, entrepreneurship and startup hub. Considering India’s current demography, youngsters need to be in the forefront of this innovative movement and Indian higher education institutes need to play a key role and emerge as centers of excellence producing global quality research and innovation. MHRD’s Innovation Cell with the support of AICTE has undertaken multiple initiatives to ensure that innovation becomes the primary fulcrum of our technical education. All India Council for Technical Education, in its endeavor to bring quality revolution in the standard of technical education of India has undertaken a plethora of activities which includes various schemes, policies, programs and regulations that have evolved to shape the educational domain of India as the ultimate in every sphere and has come forward as emerging giants of global technological warriors. AICTE and MIC are promoting start-ups and innovation culture which will eventually result in society of job creators instead of job seekers. AICTE and MHRD innovation Cell have taken up several path breaking initiatives to bring the desired tectonic shift in quality of education and many new initiatives are being launched by AICTE and MIC. MHRD has also come up with National Start-up policy framework for students and faculty members who are keen to become entrepreneurs. He appealed to MIC and AICTE to work actively with education departments of all state governments to ensure that this Start-up policy is implemented in all major educational institutions and a regular feedback mechanism should be established to understand emerging challenges and steps should be taken to ensure that a robust entrepreneurial ecosystem is developed in educational institutions.