RISE Accelerator for Circular Economy Startups

• 23 Nov 2023

On 21^st Nov, in a strategic move to foster collaboration between India and Australia, the Atal Innovation Mission (AIM), under NITI Aayog, has introduced a groundbreaking accelerator program, Rapid Innovation and Startup Expansion (RISE).

• This initiative aims to provide support to startups and SMEs in both countries, focusing on circular economy technologies and solutions.

Key Points

• A Bilateral Endeavour: The RISE Accelerator, a multi-year bilateral program, is a joint venture between CSIRO, Australia’s national science agency, and AIM, the Indian Government’s flagship initiative for innovation and entrepreneurship.
• Diplomacy and Collaboration: High Commissioner of India to Australia, sees the RISE Accelerator as a catalyst not only for strengthening diplomatic ties but also for fostering collaborative efforts across various domains.
• Nine-Month Accelerator Journey: The RISE Accelerator program spans nine months, providing startups the guidance to navigate a new region, establish connections, and build credibility for success in international markets.
• Opportunity for Circular Economy Innovation: The program's first round aligns with CSIRO’s Circular Economy for Missions initiative, seeking startups and SMEs developing innovative business models and technologies to support the transition to a circular economy.
• Program Details and Benefits: Startups can participate at no cost, with virtual delivery and potential travel opportunities between Australia and India. Participants may be eligible for up to INR 40,00,000 in non-equity grants.