Australia’s national science agency, CSIRO, has announced an exciting opportunity for startups and small- to medium-sized enterprises (SMEs) involved in agritech. The India Australia Rapid Innovation Startup Expansion (RISE) Accelerator is now open for applications, targeting businesses with innovative solutions that can enhance agricultural productivity and resilience. The latest cohort, commencing in October, will focus specifically on climate-smart agritech solutions—technologies that address the pressing issues of climate variability, resource scarcity, and food insecurity.
This initiative is particularly significant as it seeks to foster collaboration between Australia and India, two countries with distinct agricultural landscapes but shared challenges. The RISE Accelerator program, launched in 2023, is designed to help startups and SMEs validate, adapt, and pilot their technologies in new markets. By facilitating connections with potential partners and customers, the program aims to boost the chances of success for these businesses in unfamiliar territories.
Tamara Ogilvie, CSIRO’s RISE Accelerator program director, emphasized the competitive selection process for participants, focusing on how scalable, deployable, and innovative their solutions are for the alternate country. “Our agricultural contexts share some commonalities, but the scale of farming operations and farmer livelihoods are very unique,” Ogilvie said. The program aims to provide participants with the opportunity to integrate rapidly into overseas innovation ecosystems, thereby achieving product-market fit for their technologies.
Participants in the nine-month program will benefit from a blend of self-paced online and in-person learning sessions, including in-country travel to gain deeper market insights. They will also receive one-on-one coaching and mentorship from industry professionals. Naomi Vowels, co-founder of givvable and a participant in the current circular economy cohort, highlighted the value of the program’s Immersion Weeks, which include intensive learning, site visits, and networking opportunities in both Australia and India. “Travelling to India has reinforced the immense value of face-to-face interactions. It’s a fantastic way for us, as an Australian business, to understand our market and connect with our customers,” Vowels noted.
The RISE Accelerator is part of the Australian Government’s India Economic Strategy 2022, which aims to address global challenges with a focus on climate and environmental issues. The latest round of the program seeks novel solutions to critical agricultural challenges, including boosting productivity, reducing emissions, and optimizing natural resource use. Dr. Rose Roche, CSIRO’s Ag2050 Program Lead, stressed the importance of continuous innovation for ensuring profitable, productive, and sustainable farming systems in the future. “To support national economies and farmer livelihoods, we need to develop and scale innovative solutions in land use and food security that are suited to our changing climate and growing global population,” Roche said.
For agritech companies and investors, the RISE Accelerator presents a unique opportunity. Startups can gain invaluable insights and connections that could accelerate their entry into new markets, while investors can identify promising technologies and businesses with proven potential for scalability and impact. The program’s provision of up to A$75,000 in non-equity grants, along with opportunities for travel and in-depth market immersion, adds significant value for participating startups.
Applications for the RISE Accelerator program close on Sunday, 15 September 2024. There is no charge for startups to participate, making it an accessible and attractive option for agritech innovators looking to expand their horizons and make a tangible impact on global agriculture.
