India is home to more "unicorns" startups valued at $1 billion or morethan any other country in the world, and the government wants to make sure that doesn't change.
Per the Times of India, the country's Ministry of Education has set a goal of having 100 " unicorns" by 2024, defined as startups worth $1 billion or more.
The government hopes these so-called "start-ups" will spur innovation and entrepreneurship in higher education, boost the country's economy, and create millions of jobs, per the Times of India.
"We have seen an exponential increase in the number of recognized start-ups from over 300 in 2016 to over 1.19 lakh start-ups and more than 100 unicorns in 2024," says TGaram, chairman of the All India Council of Technical Education.
"It is vital to cultivate a culture of innovation within our academic institutions."
To that end, the AICTE has set up "atal Tinkering Labs" in schools, where students can tinker with innovative projects, per the Times.
The government also plans to set up " Innovation Centers" in higher education institutions, where faculty members will work with students to come up with solutions to real-world problems, per the AICTE.
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