Circular Challenge: AIM Calls Aussie Startups To Expand in India

The Atal Innovation Mission (AIM) has opened its doors to Australian science-based startups looking to expand their horizons in India. The India-Australia RISE Accelerator Programme, a collaborative effort between AIM and Australia's national science agency, CSIRO, is the focal point of this invitation. The program zeroes in on environment and climate technologies, presenting a unique opportunity for startups with a circular economy focus.

Australian organizations can receive up to A$75,000, while the Indian organizations are eligible for Rs 4 million under the programme.

In a social media post, AIM, inviting the Australian science-based startups engaged in the circular economy, wrote, "Turn your dreams into reality with the RISE Accelerator program in India. Apply now and let your innovation shine globally! Applications are open until January 7, 2024."

Calling all Australian science-based startups in the circular economy - turn your dreams into reality with the RISE Accelerator programme in India. Apply now - https://t.co/MTvu4KkegK and let your innovation shine globally! 🌏Unwrap the gift of opportunity this holiday season! 🎁 pic.twitter.com/u7Gr9WhcFj

— Atal Innovation Mission Official (@AIMtoInnovate) December 14, 2023

What is RISE Accelerator Programme?

The India Australia Rapid Innovation and Startup Expansion (RISE) Accelerator aims to provide comprehensive support to startups and small-to-mid-sized enterprises (SMEs) involved in innovative technology, contemplating overseas expansion between India and Australia. The nine-month accelerator program is designed to empower Australian and Indian innovators and industry partners in addressing shared national and global challenges, with a specific focus on environment and climate technologies.

How Does the Program Works?

The RISE Accelerator programme spans nine months and is divided into two phases: the Accelerate Phase and the Pilot Phase.

Accelerate Phase (18 weeks)

E-learning and funded in-person travel within Australia and India.

Pilot Phase (18 weeks)

Testing and/or demonstrating technology or solutions in the target market.

Financial Support, Mentorship and Connections

The programme offers financial support in the form of grants, contingent on the achievement of program milestones. Australian organizations can receive up to A$75,000, while Indian organizations are eligible for Rs 4 million.

Participants in the RISE Accelerator programme benefit from dedicated mentorship through an Expert-in-Residence and subject matter experts. This guidance spans cross-border planning and activities, providing valuable network connections.

Addressing Shared Challenges and the Circular Economy Opportunity

Focus on Circular Economy

The first round of the RISE Accelerator program will concentrate on startups and SMEs with innovative business models, technologies, and resource ingenuity that contribute to India's and Australia's transition to a circular economy. The program offers assistance in navigating new regions, validating and adapting technology for overseas markets, expediting connections to partners, customers, and talent, and building credibility in international markets.

The RISE Accelerator focuses on shared national challenges, initially honing in on waste and the circular economy. Future rounds will tailor challenges to areas such as climate-smart agriculture, clean energy, and climate-smart mobility.

Emphasizing the importance of a circular economy, the program aims to rethink design processes to minimize waste, reuse materials, and add value throughout the supply chain. The circular economy model offers a triple dividend of economic growth, employment, and waste reduction.

What Challenges Do The Startups Have?

The RISE Accelerator presents four challenge statements addressing crucial aspects of a circular economy transition:

Can you close the loop?

• Innovative circular business models.
• Promotion of B2B and/or B2C circularity.
• Collaboration on waste reduction and recycling.

Does your design eliminate waste and pollution?

• Reimagined products, designs, and production processes.
• Circular material replacements.
• Digital and data-driven innovations.

Can you build a circular economy mindset?

Transformative technology and solutions supporting a circular mindset.

What did we miss?

Open call for any technology and solutions embedded with the circular economy design philosophy.

How to Apply for RISE Accelerator Programme?

Interested startups can submit their applications at https://riseaccelerator.org before the deadline on January 7, 2024.

Recognizing the complexity of innovation, the RISE Accelerator program adopts a whole-of-ecosystem approach by collaborating with stakeholders across Indian and Australian innovation ecosystems.

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