August 20, 2024
India and Australia have partnered to launch the Climate Smart Agritech cohort under the RISE Accelerator, starting in October 2024
The program targets start-ups and MSMEs focusing on innovative agricultural technologies to enhance productivity and resilience amid climate challenges
Participants will benefit from a nine-month online learning program, in-person sessions in both countries and industry mentorship
The initiative aims to help businesses achieve product-market fit and scale their solutions for global markets, especially in agritech
In a major collaboration between India and Australia, the Atal Innovation Mission (AIM) and Australia’s CSIRO are calling for applications from start-ups and MSMEs for the Climate Smart Agritech cohort of the India-Australia Rapid Innovation and Start-up Expansion (RISE) Accelerator. Starting in October 2024, this initiative is designed to support businesses aiming for international expansion by addressing key agricultural challenges.
The program specifically targets technologies that boost agricultural productivity and resilience in the face of climate variability, resource scarcity, and food insecurity. It strongly emphasises solutions that cater to farmers’ needs and optimise on-farm practices. The initiative also addresses issues like sugar inventory management and the high carry-over stock anticipated at the end of the current season due to government restrictions.
Tamara Ogilvie, Program Director at CSIRO, highlighted the shared agricultural challenges between India and Australia, noting that this cohort will help participants achieve product-market fit in diverse markets and scale their solutions rapidly to meet global demands. Launched in 2023, the RISE Accelerator has already played a crucial role in supporting start-ups and MSMEs to adapt their technologies for new markets. With the introduction of the Climate Smart Agritech cohort, the focus is now sharper on agritech innovations that tackle environmental challenges.
The nine-month program will combine online learning with in-person sessions, including immersion weeks in India and Australia. These sessions are designed to provide deep market insights, coaching, and mentorship from industry experts. The latter half of the program will also include field trials and technology pilots, increasing participants’ chances of success in new markets. Pramit Dash, Program Lead at AIM, underlined the significance of innovation in agriculture, emphasising that the RISE Accelerator addresses immediate agricultural challenges and ensures that farmers can access and adopt resilient practices tailored to their needs.
Applications for this transformative initiative will close on September 15, 2024. The program is free for start-ups and SMEs, with extensive opportunities for travel and collaboration between Australia and India. Additionally, selected participants may be eligible for non-equity grant funding of up to INR 45 lakhs, significantly boosting promising agritech innovations.
Source: Economic Times