NITI Aayog’s Atal Innovation Mission (AIM) in partnership with the Commonwealth Scientific and Industrial Research Organisation (CSIRO), an arm of the Australian government, has invited applications from startups and MSMEs for the Climate Smart Agritech cohort under the Rapid Innovation and Startup Expansion (RISE) Accelerator program.
This program is designed to support businesses aiming for international expansion between the two countries, NITI Aayog said in a statement on Monday.
Startups working in India and Australia will be eligible to receive benefits under the accelerator program. The cohort will provide support to startups and MSMEs working with technologies and solutions that enhance agricultural productivity and resilience.
The program will focus on startups and MSMEs that provide solutions to farmers’ needs, priorities, and on-farm practices. 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 a technology pilot in the latter half.
Applications for the RISE Accelerator close on 15 September 2024.
There is no charge for start-ups and SMEs to participate in the program, and there are several opportunities to travel between Australia and India. Selected start-ups and SMEs may also be eligible for up to Rs 45 lakhs in non-equity grants, as per NITI Aayog’s statement.
The RISE Accelerator program was launched in 2023. It has been instrumental in supporting startups and MSMEs in validating, adapting, and piloting their technologies for new markets.
With the introduction of the Climate Smart Agritech cohort, the focus is now on agritech startups and MSMEs with solutions that enhance agricultural productivity and resilience in the face of growing environmental challenges, NITI Aayog said.
Tamara Ogilvie, Program Director, CSIRO said, “India and Australia share common agricultural challenges, but the scale and diversity of our farming operations are unique. This cohort will enable participants to achieve product-market fit in diverse markets, and rapidly scale their solutions to meet global demands.”