Context:
The RISE Accelerator Program, a joint initiative by NITI Aayog’s Atal Innovation Mission (AIM) and the Commonwealth Scientific and Industrial Research Organisation (CSIRO), aims to foster innovation and growth in Climate Smart Agritech.
More on the news
This partnership has invited applications from startups and MSMEs for the Climate Smart Agritech cohort under the Rapid Innovation and Startup Expansion (RISE) Accelerator program.
- AIM: 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 and was set up in 2016.
- CSIRO: In 1916, the Australian Government established the Advisory Council of Science and Industry as the first step towards a ‘national laboratory’. By 1920, this had evolved into the Institute for Science and Industry under an Act of the Federal Parliament. In 1926, this Act was revised to form the Council for Scientific and Industrial Research (CSIR).
Rapid Innovation and Startup Expansion (RISE) Accelerator program
- Focus: The RISE Accelerator program was launched in 2023 and it has been instrumental in supporting start-ups and MSMEs in validating, adapting, and piloting their technologies for new markets.
- Goal: It is a purpose-built program to support and accelerate Indian and Australian start-ups.
Structure: It is a 9-month program split into two phases: the discovery phase and the pilot phase
- Discovery phase: e-learning and funded in-person travel within Australia and India
- Pilot phase: test and or demonstrate your technology or solution in your target market
The first round of the program is focused on the circular economy.
Significance of the program
- Over the course of the nine months of the accelerator program, the selected start-ups and MSMEs will benefit from a blend of self-paced online learning and in-person sessions, including immersion weeks in both India and Australia.
- This cohort will enable participants to achieve product market fit in diverse markets, and rapidly scale their solutions to meet global demands.