TAG: GS 3: ECONOMY
THE CONTEXT: India Australia RISE Accelerator calls for Start-ups and MSMEs in Climate Smart Agritech.
EXPLANATION:
- The Atal Innovation Mission – in partnership with CSIRO, Australia – is inviting applications from start-ups and MSMEs from India and Australia for the Climate Smart Agritech cohort of the India Australia Rapid Innovation and Start-up Expansion (RISE) Accelerator.
- It is a program designed to support businesses aiming for international expansion between the two countries.
- This marks a significant milestone in fostering innovations that address India and Australia’s most pressing shared challenges in the agriculture sector.
- Commencing in October 2024, the Climate Smart Agritech cohort of the RISE Accelerator will focus on
- start-ups and MSMEs with technologies and solutions that enhance agricultural productivity and resilience in the face of growing climate variability, resource scarcity and food insecurity.
- The program is particularly interested in start-ups and MSMEs with solutions that prioritise farmer needs, priorities, and on-farm practices.
- The RISE Accelerator program – launched in 2023 – has been instrumental in supporting start-ups and MSMEs in validating, adapting, and piloting their technologies for new markets.
Climate Smart Agritech cohort
- With the introduction of the Climate Smart Agritech cohort, the focus is now on agritech start-ups and MSMEs with solutions that enhance agricultural productivity and resilience in the face of growing environmental challenges.
- 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.
- These sessions will offer deep market insights, one-on-one coaching, and mentorship from subject matter experts and industry professionals.
- The program is designed to facilitate connections with potential partners and customers, boosting the chances of success in new markets.
- The program will also involve field trials and technology pilot in the latter half.
- The program’s latest round seeks novel solutions to tackle critical agricultural challenges, including boosting productivity, reducing emissions and optimising natural resource use.
RISE Accelerator:
- The India Australia Rapid Innovation and Start-up Expansion (RISE) Accelerator is a bilateral program led by CSIRO and the Atal Innovation Mission (AIM), NITI Aayog.
- The RISE Accelerator addresses India and Australia’s shared challenges with a focus on environment and climate issues by supporting the expansion of innovative agritech solutions across borders.
- The India Australia Rapid Innovation and Startup Expansion (RISE) Accelerator provides support to startups and small- to medium-sized enterprises (SMEs) who are working on innovative technology and are considering overseas expansion between India and Australia.
- The nine-month accelerator program enables Australian and Indian innovators and industry partners to tackle shared national and global challenges. The program focusses on environment and climate technologies.
- In each round, a new cohort of startups and SMEs tackles specific challenge areas, from circular economy opportunities to clean energy and climate smart agriculture.