In a significant move to bolster entrepreneurial growth and foster international collaboration, India and Australia have jointly invited applications from start-ups and micro, small, and medium enterprises (MSMEs) in both countries. The Atal Innovation Mission (AIM), in partnership with Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO), is spearheading this initiative. They are calling for applications to join the Climate Smart Agritech cohort of the India Australia Rapid Innovation and Start-up Expansion (RISE) Accelerator.
The RISE Accelerator is a unique programme designed to support businesses aiming for international expansion between India and Australia. This latest initiative marks a pivotal milestone in nurturing innovations that address some of the most pressing agricultural challenges shared by both nations. Set to commence in October 2024, the Climate Smart Agritech cohort will specifically target start-ups and MSMEs with technologies and solutions that enhance agricultural productivity and resilience amidst increasing climate variability, resource scarcity, and food insecurity.
The programme is particularly interested in solutions that prioritise farmer needs, priorities, and on-farm practices. This focus ensures that the innovations developed are not only technologically advanced but also practically applicable and beneficial to farmers on the ground.
Tamara Ogilvie, Program Director at CSIRO, highlighted the shared agricultural challenges faced by India and Australia. “India and Australia share common agricultural challenges, but the scale and diversity of our farming operations are unique,” she said. “This cohort will enable participants to achieve product-market fit in diverse markets and rapidly scale their solutions to meet global demands.”
The RISE Accelerator programme is structured to include field trials and technology pilots in its latter half. This practical approach will allow participants to test and refine their innovations in real-world settings, ensuring they are robust and effective. The programme is actively seeking novel solutions to critical agricultural challenges, including boosting productivity, reducing emissions, and optimising natural resource use.
Pramit Dash, Program Lead at AIM, underscored the importance of fostering innovation and providing a platform for start-ups to scale their solutions. “By fostering innovation and providing a platform for start-ups to scale their solutions, the RISE Accelerator programme not only addresses the immediate challenges in the agriculture sector but also ensures that farmers can access and adopt resilient practices tailored to their specific needs,” Dash stated.
Applications for the RISE Accelerator are open until 15 September 2024. There is no charge for start-ups or MSMEs to participate in the programme, and there are numerous opportunities for participants to travel between Australia and India. Selected start-ups and MSMEs may also be eligible for up to Rs 45 lakh in non-equity grants, providing a significant financial boost to help them scale their innovations.
This initiative not only promises to drive agricultural innovation but also strengthens the ties between India and Australia, fostering a collaborative environment where shared challenges can be addressed through joint efforts. As the world grapples with climate change and its impact on agriculture, programmes like the RISE Accelerator are crucial in developing sustainable and resilient agricultural practices that can be adopted globally.
