Rapid Innovation and Startup Expansion (RISE)

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Overview:

Recently, AIM, NITI Aayog launched a new accelerator called Rapid Innovation and Startup Expansion (RISE) to support Australian and Indian circular economy startups.

About Rapid Innovation and Startup Expansion (RISE)

  • The India Australia RISE Accelerator is delivered in partnership between CSIRO, Australia’s national science agency, and Atal Innovation Mission (AIM), the Government of India’s flagship initiative to promote a culture of innovation and entrepreneurship.
  • This initiative focuses on startups and small to mid-sized enterprises (SMEs) in India and Australia working on circular economy technologies and solutions.
  • Focus Themes: With a focus on Environment and Climate Technology, the program will be tailored to accelerate start-ups working on a range of areas:
    • Climate Smart Agriculture
    • Clean Energy
    • Circular Economy and Waste Management
    • Climate Smart Mobility
  • Over the nine-month RISE Accelerator program will help startups navigate early steps in a new region, fast-track connections to the right partners, customers and talent, and build credibility to succeed in international markets.
  • The accelerator, in its first round, will focus on supporting startups and SMEs working on technologies and solutions for the waste and circular economy
  • Participating startups may also be eligible for up to INR 40,00,000 in non-equity grants.
  • The future rounds of the accelerator will focus on climate smart agriculture, clean energy and climate smart mobility. 

What is a circular economy?

  • A circular economy means products are designed in such a way that they can be used again, or even multiple times, to maximise their value.

Q1) What is Atal Innovation Mission?

It is the Government of India’s flagship initiative to promote a culture of innovation and entrepreneurship in the country and was set up in 2016. To create and promote an ecosystem of innovation and entrepreneurship across the country at school, university, research institutions, MSME and industry levels.

Source: AIM– NITI Aayog launches new accelerator to support Australian and Indian circular economy startups to rise.