A new accelerator program, the Rapid Innovation and Startup Expansion (RISE), has been launched by AIM, NITI Aayog, focusing on enhancing collaboration between Indian and Australian startups and small to mid-sized companies (SMEs) in the circular economy sector. Developed in partnership with the Australian national science agency, CSIRO, and India’s Atal Innovation Mission (AIM), the RISE Accelerator aims to assist circular economy entrepreneurs from both nations.
Tamara Ogilvie, Director of CSIRO, highlighted the program’s emphasis on startups and SMEs with established technologies seeking expansion across Australia and India. The RISE Accelerator aims to facilitate early steps in new regions, expedite connections to partners, customers, and talent, and establish credibility for success in international markets.
India’s High Commissioner to Australia, Manpreet Vohra, emphasized the strategic partnership between the two countries and the potential for cooperative initiatives across various fields facilitated by the RISE Accelerator. The program is not only anticipated to strengthen diplomatic ties but also foster meaningful collaborations in industry and research.
Pramit Dash, AIM’s RISE Accelerator lead, sees the initiative as a valuable opportunity for startups to collaborate, build industry connections, and enhance cultural literacy in their target markets. The program aligns with CSIRO’s Circular Economy for Missions project, focusing on waste innovation for a sustainable future.
The virtual RISE Accelerator program, open for applications until January 7, 2024, offers participating startups opportunities for travel between Australia and India at no cost. Additionally, eligible businesses may qualify for non-equity incentives of up to Rs. 40,00,000 (US$ 47,986), providing further support for their collaborative efforts.
