In news : NITI Aayog’s Atal Innovation Mission & Commonwealth Scientific and Industrial Research Organisation kick-start the India-Australia Circular Economy (I-ACE) Hackathon, 2021
About the India-Australia Circular Economy (I-ACE) Hackathon, 2021
Goal: To enable talented innovative students and start-ups from Australia and India to address common national issues through innovative technology solutions
Origin of the I-ACE Hackathon:The concept of I-ACE joint Hackathon originated in the virtual bilateral summit between the Hon. Prime Minister of India and the Hon. Prime Minister of Australia, held on June 4th, 2020 where they committed to joint circular economy innovation initiatives between the two countries.
Supported by: I-ACE is supported by the Australian Department of Industry, Science, Energy and Resources (DISER), AIM Atal Incubation Centre network, and various domain experts.
How does it work?
Under this hackathon, students and startups of both the nations will work together on Innovative ways of boosting Circular Economy in priority themes viz.
- Innovation in packaging reducing packaging waste
- Innovation in food supply chains avoiding waste
- Creating opportunities for plastics waste reduction, and
- Recycling critical energy metals and e-waste.
What is a circular economy?
- It is an economic system aimed at eliminating waste; and the continual use of resources.
- It is a system of resources utilization where reduction, reuse and recycling of elements prevail.
- Circular systems promote reuse, sharing, repair, refurbishment, remanufacturing and recycling to create a closed system, minimizing the use of resource input and the creation of waste, pollution and emissions.
- It is an alternative to a traditional linear economy.
About Atal Innovation Mission (AIM)
The Atal Innovation Mission (AIM), NITI Aayog, is the Government of India’s flagship initiative to promote a culture of innovation and entrepreneurship in the country. Towards this end, AIM has rolled out a holistic set of programs supporting innovation across various stages of the innovation lifecycle catering to various stakeholders.
About Commonwealth Scientific and Industrial Research Organisation (CSIRO)
The Commonwealth Scientific and Industrial Research Organisation (CSIRO) is Australia’s national science agency and innovation catalyst, solving the greatest challenges through innovative science and technology.