Startups and small to mid-sized enterprises (SMEs) in India and Australia working on circular economy technologies and solutions will benefit from a new accelerator program designed to open new doors to explore opportunities between the two countries.
The India Australia Rapid Innovation and Startup Expansion (RISE) Accelerator is delivered in partnership between CSIRO, Australia’s national science agency, and Atal Innovation Mission (AIM), the Government of India’s flagship initiative to promote a culture of innovation and entrepreneurship.
Tamara Ogilvie, CSIRO’s RISE Accelerator program director said the program focusses on startups and SMEs that have mature technologies and a desire to expand between India and Australia.
“Over the nine-month RISE Accelerator program, we’ll help startups 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,” Ms Ogilvie said.
“For the first round of RISE Accelerator, we’re calling for startups and SMEs developing innovative business models, technologies, and or resource ingenuity to support India’s and Australia’s transition to a circular economy.”
Pramit Dash, AIM’s RISE Accelerator lead said the Australian and Indian startups would be well supported to validate and adapt their technology and research overseas.
“This is a real opportunity for startups from Australia and India to work with industry and researchers in their target market,” Mr 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.
Heinz Schandl, CSIRO’s Circular Economy for Missions Lead said that we need to design materials and products 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,” Dr 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 startups to participate in the program, with a number of opportunities to travel between Australia and India. Participating startups may also be eligible for up to A$75,000 in non-equity grants.
Applications for the RISE Accelerator program are open now, and will close Sunday 7 January 2024.