Why in news? Atal Innovation Mission and UNDP India launch 5th edition of Youth Co:Lab for Young Entrepreneurs

Highlights

• It is Asia Pacific’s largest youth innovation movement
• Launched by Atal Innovation Mission (AIM), NITI Aayog and UNDP India
• Aims: Establish a common agenda for Asia-Pacific countries to invest in and empower youth to accelerate implementation of the Sustainable Development Goals (SDGs) through leadership, social innovation, and entrepreneurship.
• The 5 focus thematic areas for Youth Colab 2022-23 are:

1. Digital and Financial Literacy for Youth
2. Gender Equality and Women Economic Empowerment
3. Developing FinTech Solutions focused on Biodiversity Conservation
4. Promoting Biodiversity-friendly Lifestyles through Technological Solutions in Finance
5. Accelerating Circular Economy through Upcycling Innovations
6. Behavioural Nudges for LiFE ( Lifestyle For Environment)

About Youth Co:lab

• Co-created in 2017 by UNDP and the Citi Foundation
• It is a multi-dimensional and multi-level response to tackle the challenges young people face by positioning youth at the forefront in finding solutions to global challenges tackling Sustainable Development Goals (SDGs).
• Has supported 28 countries and territories across Asia and the Pacific.

About Atal Innovation Mission (AIM):

• Started by Niti Aayog
• It is the Government of India’s endeavour to promote a culture of innovation and entrepreneurship
• 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.