Australia’s national science agency, CSIRO, is calling on startups and small- to medium-sized enterprises (SMEs) with innovative agritech solutions to apply for the India Australia Rapid Innovation Startup Expansion (RISE) Accelerator.
This program is specifically designed to support businesses seeking to expand their operations between the two nations.
Starting in October, the Climate Smart Agritech cohort of the RISE Accelerator will concentrate on businesses developing technologies and solutions that improve agricultural productivity and resilience in response to increasing climate variability, resource scarcity, and food insecurity.
The program is particularly keen to engage startups and SMEs offering solutions that address the needs, priorities, and practices of farmers.
Launched in 2023, the RISE Accelerator aids startups and SMEs by helping them validate, adapt, and pilot their technologies in new markets. It also facilitates connections with potential partners and customers, increasing their chances of success.
Tamara Ogilvie, Director of CSIRO’s RISE Accelerator program, noted that participants will be chosen based on the scalability, deployability, and innovation of their agritech solutions for the target country.
“Our agricultural contexts share some commonalities, but the scale of farming operations and farmer livelihoods are very unique,” Ogilvie said.
“Through this program, participants can quickly integrate into overseas innovation ecosystems they might not otherwise access, helping them achieve product-market fit for their technologies.”
Over the course of nine months, participants will benefit from both self-paced online and in-person learning sessions, including in-country travel to gain deeper market insights. Additionally, they will 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 of the RISE program, emphasized the value of the program’s Immersion Weeks, which involve one week of intensive learning, site visits, and networking in Australia, followed by another in 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 said.
The RISE Accelerator, established under the Australian Government’s India Economic Strategy 2022, is focused on addressing global challenges, particularly climate and environmental issues.
The program’s latest round seeks innovative solutions to critical agricultural challenges, including enhancing productivity, reducing emissions, and optimizing natural resource use.
Dr Rose Roche, Lead of CSIRO’s Ag2050 Program, emphasised the importance of continuous innovation in ensuring profitable, productive, and sustainable farming systems for 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.
“Collaboration and supporting startups and SMEs in accelerating their solutions are critical, as their agility and creativity often lead to groundbreaking innovations.”
Applications for the RISE Accelerator program close on Sunday, 15 September 2024.
Participation in the program is free for startups, with several opportunities to travel between Australia and India. Additionally, participating startups may be eligible for non-equity grants of up to A$75,000.
The India Australia Rapid Innovation and Startup Expansion (RISE) Accelerator is a partnership between CSIRO and the Atal Innovation Mission (AIM), NITI Aayog India’s flagship initiative to promote innovation and entrepreneurship.
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