Accelerator

India-Australia RISE Accelerator Programme Invites Agritech Startups and MSMEs

• ByStartupStory     |    August 20, 2024

The India-Australia Rapid Innovation and Startup Expansion (RISE) Accelerator, a bilateral initiative led by Australia’s national science agency CSIRO and India’s Atal Innovation Mission (AIM) under NITI Aayog, has opened its doors to applications from startups and Micro, Small, and Medium Enterprises (MSMEs) from both nations. The programme, launched on Monday, is specifically designed to support enterprises that are developing innovative solutions to enhance agricultural productivity and resilience in the face of escalating climate and environmental challenges.

The nine-month accelerator programme will be entirely free of cost and is focused on startups and MSMEs that prioritize the needs of farmers, their priorities, and on-farm practices. Participants will receive comprehensive support, including deep market insights, one-on-one coaching, and mentorship from subject matter experts and industry professionals. Additionally, the programme will facilitate valuable connections with potential partners and customers.

The RISE Accelerator will combine online learning with in-person sessions and immersion weeks in both India and Australia, providing participants with a unique opportunity to gain a deep understanding of diverse markets and scale their solutions globally.

“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,” said Tamara Ogilvie, Program Director at CSIRO.

The programme aims to select 12-18 companies, with six to nine enterprises from each country. These selected enterprises may also be eligible for a non-equity grant of up to Rs 45 lakh, providing additional support for their innovative efforts.

Highlighting the importance of the accelerator, Pramit Dash, Program Lead at AIM, stated, “By fostering innovation and providing a platform for startups to scale their solutions, the RISE Accelerator program 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.”

This initiative is part of a broader effort by both governments to promote sustainable agricultural practices. Last year, the Indian government launched the National Mission on Natural Farming (NMNF) as an independent scheme starting from 2023-24. The mission is aimed at helping farmers adopt chemical-free farming methods and expanding the reach of natural farming across the country.

According to data presented in the Lok Sabha earlier this year by former Minister of Tribal Affairs & Agriculture and Farmer Welfare Arjun Munda, as of February 6, 2024, a total of 4.09 lakh hectares of land had been sanctioned, and Rs 70.13 crore had been released for natural or chemical-free farming under the Bharatiya Prakritik Krishi Paddhati scheme in eight states.

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