India and Australia announce the launch of the RISE Accelerator, an initiative designed to accelerate science backed technology startups and small to medium sized enterprises (SMEs).
This nine-month program, facilitated through a robust partnership between Australia’s national science agency CSIRO and India’s Atal Innovation Mission (AIM), aims to foster innovation and address global challenges in environment and climate technologies.
Program Overview
The RISE Accelerator is tailored to support startups and SMEs from both countries that are focused on advancing technologies in key challenge areas such as circular economy, clean energy, and climate smart agriculture.
This initiative is uniquely structured to provide comprehensive support across two distinct phases:
Discovery Phase
- E-Learning and In-Person Travel: Participants will engage in an extensive e-learning curriculum complemented by funded in-person travel within Australia and India.
- Knowledge and Networking: The Discovery Phase includes practical sessions with guest speakers, entrepreneurs, and investors, as well as opportunities for domestic and international networking.
- Expert Guidance: Each participant will receive tailored support from dedicated Expert-in-Residence and Domain Experts, facilitating connections with potential partners and investors.
Pilot Phase
- Technology Testing: Startups will have the opportunity to test and demonstrate their technologies in their target market, supported by connections with industry partners and research organizations.
- Market Research: Participants will conduct in-country market research and further develop their technology or solution in collaboration with local entities.
Key Benefits
- Learning and Development: The accelerator provides a targeted curriculum to help navigate new markets, adapt technology, and build credibility.
- Non-Equity Grants: Non-equity grants of up to A$75,000 for Australian organizations and INR 4.5 million for Indian organizations are available, subject to achievement of program milestones throughout the program.
- Networking Opportunities: Participants will be connected with potential customers, industry partners, and investors, enhancing their growth prospects.
- Expert Assistance: Access to a network of experts and mentors for personalized guidance and practical support.
Application Process
Startups and SMEs interested in joining the RISE Accelerator must meet specific eligibility criteria and complete an online application.
Detailed program guidelines and participation agreements are available for both Australian and Indian applicants.
The RISE Accelerator represents a significant step forward in fostering cross-border innovation and collaboration.
By leveraging the strengths of both Indian and Australian ecosystems, this program aims to drive impactful technological advancements and sustainable solutions for global challenges.
