A new accelerator program designed by CSIRO and the Indian government’s initiative, Atal Innovation Mission (AIM), is set to explore opportunities for the two countries to work together on circular economy technologies and solutions.
The India Australia Rapid Innovation and Startup Expansion (RISE) Accelerator will be delivered in partnership. AIM is India’s flagship program to promote innovation and entrepreneurship.
CSIRO’s RISE Accelerator program director, Tamara Ogilvie, said RISE would focus on start-ups and SMEs with mature technologies and a desire to expand between the two countries.
“Over the nine-month RISE Accelerator program, we’ll help start-ups navigate early steps in a new region, fast-track connections to the right partners, customers and talent, and build credibility to succeed in international markets,” Ogilvie said.
“For the first round of RISE Accelerator, we’re calling for start-ups and SMEs developing innovative business models, technologies, and or resource ingenuity to support India’s and Australia’s transition to a circular economy.”
AIM’s RISE Accelerator lead, Pramit Dash, said the Australian and Indian start-ups would be well supported to validate and adapt their technology and research overseas.
“This is a real opportunity for start-ups from Australia and India to work with industry and researchers in their target market,” Dash said.
“As well as developing cultural literacy, participants will develop meaningful bilateral industry and research collaborations.”
The first round of the program aligns with CSIRO’s Circular Economy for Missions initiative, which is focused on creating a sustainable future built on waste innovation.
CSIRO Circular Economy for Missions lead, Heinz Schandl, said materials and products need to be designed with a zero-waste mindset.
“A circular economy means products are designed in such a way that they can be used again, or even multiple times, to maximise their value,” Schandl said.
“We hope this program will help to accelerate technologies and solutions to grow economies, create jobs and reduce waste.”
There is no charge for start-ups to participate in the program, with a number of opportunities to travel between Australia and India. Participating start-ups may also be eligible for up to $75,000 in non-equity grants.
Applications for the RISE Accelerator program are now open, and close Sunday 7 January 2024.
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