Deadline: 7 January 2024
Applications are now open for science-backed startups and SMEs from India and Australia who are ready to RISE.
The India Australia Rapid Innovation and Startup Expansion (RISE) Accelerator provides support to startups and small-to-mid sized enterprises (SMEs) who are working on innovative technology and are considering overseas expansion between India and Australia.
The nine-month accelerator program enables Australian and India innovators and industry partners to tackle shared national and global challenges. The program focusses on environment and climate technologies.
The first round will focus on startups and SMEs with an innovative business model, technology, and/or resource ingenuity that will support India’s and Australia’s transition to a circular economy.
They’ll help you navigate early steps in a new region, validate and adapt technology and research overseas, fast-track connections to the right partners, customers and talent, and build credibility to succeed in international markets.
The RISE Accelerator is delivered through a powerful partnership between:
- CSIRO – Australia’s national science agency
- Atal Innovation Mission (AIM), NITI Aayog – the Government of India’s flagship initiative to promote a culture of innovation and entrepreneurship in the country.
RISE Accelerator challenge statements
- Can you close the loop?
- Technology and solutions that retain material inputs at their highest possible value, in production and consumption systems by, for example:
- innovative circular business models
- promoting B2B and/or B2C circularity across supply and value chains
- enabling circular consumption patterns
- collaborations on waste reduction, reuse, recycling
- product life extension.
- Technology and solutions that retain material inputs at their highest possible value, in production and consumption systems by, for example:
- Does your design eliminate waste and pollution?
- Technology and solutions that extract, design and use energy materials, biological materials, and/or technical materials within a circular economy framework, for example:
- reimagined products, designs, and production processes that eliminate or minimise waste and pollution
- circular material replacements
- advanced material design, engineering and manufacturing
- digital and or data driven innovations that reduce inputs
- production processes and technologies that enable easier material reuse.
- Technology and solutions that extract, design and use energy materials, biological materials, and/or technical materials within a circular economy framework, for example:
- Can you build a circular economy mindset?
- What transformative technology and solutions can help achieve a world where cities, buildings, transportation systems, food and energy provisions, clothing, health care, and education are all sculpted with a circular economy mindset? Innovations focussed on supporting transition at scale and system change will be required to achieve a successful transition to a circular economy.
- What did they miss?
- Any technology and solutions embedded with the circular economy design philosophy, and/or that will measurably impact India’s and Australia’s transition to a circular economy are welcome to apply.
Eligibility Criteria
- Participants must:
- be headquartered or domiciled in Australia or India (the home country)
- have been incorporated for less than 10 years
- be registered for GST in your country of incorporation
- have, or be actively developing, a technology or solution that aligns with one or more of the RISE Accelerator challenge statements
- have a solution at TRL 7 or higher. They may consider solutions at TRL 5-6 that have clear potential to rapidly advance through expansion into India or Australia.
- Indian startups and SMEs
- be an Indian organisation with a DPIIT registration number or Ministry of MSME registration number
- have not had revenue of more than or INR 100 Cr. in any of the last three financial years.
- Australian startups and SMEs
- be incorporated in Australia with ABN and ACN or an incorporated trustee applying on behalf of a trust
- have not had revenue of more than A$20 million or equivalent in any of the last three financial years.
- Other considerations
- They support and value applications with gender, cultural and regional diversity. They encourage applications from female and regional applicants and, in Australia, First Nations and migrant founded businesses.
Who is not suitable?
The RISE Accelerator program is not suitable for startups and SMEs who:
- are not considering expanding into Australia or India
- are already actively exporting
- have a solution at TRL 4 or lower.
For more information, visit Rapid Innovation and Startup Expansion (RISE).