NITI Aayog launches accelerator to support Australian and Indian circular economy startups

NITI Aayog launches accelerator to support Australian and Indian circular economy startups

A new accelerator program, the Rapid Innovation and Startup Expansion (RISE) Accelerator, has been launched to foster collaboration and growth among circular economy startups in India and Australia. This joint initiative between CSIRO, Australia’s national science agency, and Atal Innovation Mission (AIM), the Government of India’s flagship innovation initiative, aims to address shared environmental challenges and promote sustainable practices.

The RISE Accelerator will offer startups a comprehensive support system, including funding, mentorship, and networking opportunities, to help them navigate the intricacies of cross-border expansion. The program will focus on startups with mature technologies that demonstrate the potential to significantly impact the circular economy landscape in both India and Australia.

The first round of the program aligns with CSIRO’s Circular Economy for Missions initiative, emphasizing the development of innovative waste management and resource optimization solutions. By promoting circular economy principles, the program seeks to create a more sustainable future for both nations.

Startups interested in participating in the RISE Accelerator can apply online until January 7, 2024. The program will be conducted virtually, with travel opportunities between India and Australia for selected participants. Eligible startups may also receive non-equity grants of up to INR 40,00,000.

The RISE Accelerator marks a significant step towards strengthening the India-Australia partnership and fostering innovation in the circular economy sector. By supporting startups in both countries, the program aims to drive sustainable growth and environmental progress.