India-Australia RISE Initiative Targets Agri-Tech Start-Ups With Grants And Mentorship
Date
8/20/2024 2:32:52 PM
(MENAFN- KNN India)
New Delhi, Aug 20 (KNN)
The India Australia Rapid Innovation and Start-up Expansion (RISE) Accelerator, a joint initiative between Australia's CSIRO and India's Atal Innovation Mission, has opened applications for its inaugural cohort.
The program aims to support start-ups and MSMEs developing solutions for agricultural resilience and productivity in the face of climate challenges.
The nine-month accelerator will select 12-18 companies, evenly split between India and Australia, offering free mentorship, market insights, and networking opportunities.
Participants will engage in a blend of online and in-person sessions, including immersion weeks in both countries.
Tamara Ogilvie, Program Director, CSIRO, highlighted the shared agricultural challenges between India and Australia, emphasising the program's goal to help participants achieve product-market fit across diverse markets.
The accelerator will prioritise enterprises focusing on farmer needs and on-farm practices.
Selected companies may be eligible for non-equity grants of up to Rs 45 Lakhs.
Pramit Dash fr0m the Atal Innovation Mission stressed the accelerator's role in addressing immediate agricultural challenges while promoting resilient practices tailored to specific farmer needs.
This initiative aligns with India's recent efforts to promote sustainable agriculture.
In 2023, the government launched the National Mission on Natural Farming to support chemical-free farming practices.
As of February 2024, the program had sanctioned 409,000 hectares and released Rs 70.13 crore for natural farming initiatives across eight states.
The RISE Accelerator represents a significant step in bilateral cooperation between India and Australia in the agricultural technology sector, aiming to foster innovation and sustainable farming practices in both nations.
(KNN Bureau)
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