The Atal Innovation Mission (AIM) and Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO) have announced the launch of the India-Australia Rapid Innovation and Start-up Expansion (RISE) accelerator, inviting applications from startups and MSMEs in the agritech sector. This bilateral initiative aims to foster innovation and facilitate the cross-border expansion of agritech solutions between India and Australia.
The RISE accelerator, a joint effort by AIM and CSIRO, is designed to address pressing environmental and climate challenges by supporting innovative agritech businesses. The upcoming climate-smart agritech cohort, which will commence in October, seeks to engage startups and MSMEs with technologies that enhance agricultural productivity, focus on farmer needs, and adapt to climate variability, resource scarcity, and food insecurity.
Pramit Dash, Program Lead at AIM, emphasized the programme’s role in advancing agricultural practices. "By fostering innovation and providing a platform for startups 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".
Tamara Ogilvie, Programme Director at CSIRO, highlighted the unique benefits of the programme. "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".
Launched in 2023, the RISE accelerator has played a crucial role in helping startups and MSMEs validate, adapt, and pilot their technologies for new markets. The programme offers a comprehensive support structure, including up to Rs 45 lakhs in non-equity grants, opportunities for travel between India and Australia, and a combination of online learning and in-person sessions over nine months.
Participants will benefit from deep market insights, one-on-one coaching, and mentorship from industry experts. The programme is designed to connect participants with potential partners and customers, increasing their chances of success in new markets. Additionally, the programme will involve field trials and technology pilots to further validate and refine solutions.
The RISE accelerator seeks innovative solutions to critical agricultural challenges, such as enhancing productivity, reducing emissions, and optimizing natural resource use. Applications for the climate-smart agritech cohort are open until September 15, with selected teams set to embark on a transformative journey in October.