New Delhi [India]November 21 (ANI): In a strategic move to boost collaboration and innovation between India and Australia, Atal Innovation Mission (AIM) under NITI Aayog has unveiled the Rapid Innovation and Start-up Expansion (RISE) Accelerator .
This visionary accelerator program is dedicated to supporting start-ups and small to medium-sized enterprises (SMEs) specializing in circular economy technologies and solutions.
Developed in partnership with Australia’s national science agency, the Commonwealth Scientific and Industrial Research Organization (CSIRO), the India Australia Rise Accelerator aims to create a dynamic platform for start-ups, exploring opportunities and encouraging cross-border partnerships.
The event is a testament to the strong diplomatic ties and shared values between the two countries, said India’s High Commissioner to Australia Manpreet Vohra.
Dr. Chintan Vaishnav, Mission Director, Atal Innovation Mission – NITI Aayog, emphasized the importance of RISE Accelerator in addressing shared challenges with a special focus on environment and climate technology.
This multi-year bilateral initiative provides start-ups the opportunity to find solutions beyond global challenges.
Tamara Ogilvie, Program Director of CSIRO’s RISE Accelerator, outlined its objectives, which emphasized support for start-ups and SMEs with mature technologies and facilitating their expansion between India and Australia.
Over the nine-month programme, participants will explore the early stages of entry into new sectors, establish relationships with partners and customers and build credibility to thrive in international markets.
AIM’s RISE Accelerator Lead Pramit Dash highlighted the potential for Australian and Indian start-ups to validate and adapt their technologies and research overseas.
This collaborative effort provides a unique opportunity for start-ups to work with industry and researchers in their target markets while fostering meaningful bilateral collaborations.
The inaugural round of the program is in line with CSIRO’s Mission for Circular Economy initiative, which focuses on waste innovation for a sustainable future.
CSIRO’s Mission Lead for Circular Economy Heinz Schandl stressed the need to design products with a zero-waste mindset to accelerate economies, create jobs and reduce waste.
Importantly, the RISE Accelerator program will be delivered virtually, with travel opportunities between Australia and India. Participating start-ups will benefit from non-equity grants of up to ₹40,00,000.
The application window for this groundbreaking program is open until January 7, 2024, signaling an exciting phase for circular economy start-ups in both India and Australia. (ANI)