CSIRO accelerator to offer up to $75,000 for Australian and Indian circular economy startups

The CSIRO and Atal Innovation Mission (AIM) have unveiled a joint initiative to support startups and SMEs in India and Australia, with the India Australia Rapid Innovation and Startup Expansion (RISE) accelerator program to focus on circular economy technologies and facilitate opportunities for business expansion and collaboration between the two countries.

The initiative promises to bring together the best of both countries in a bid to promote sustainable and innovative business practices. It also aims to assist startups in navigating new regional markets, expediting connections with suitable partners, customers, and talent, as well as building credibility in the international arena.

According to Tamara Ogilvie, the RISE Accelerator program director at CSIRO, the nine-month program is particularly geared towards startups and SMEs with mature technologies and an ambition to expand their footprint in the Indian and Australian markets.

“For the first round of RISE Accelerator, we’re calling for startups and SMEs developing innovative business models, technologies, and or resource ingenuity to support India’s and Australia’s transition to a circular economy,” Ogilvie said.

Pramit Dash, the RISE accelerator lead from AIM, underscored the support Australian and Indian startups will receive in adapting their technology and research for overseas markets.

“As well as developing cultural literacy, participants will develop meaningful bilateral industry and research collaborations,” Dash said.

Aligned with CSIRO’s Circular Economy for Missions initiative, the program resonates with the need for sustainable future practices. Dr. Heinz Schandl, CSIRO’s lead on this initiative, emphasised the importance of designing materials and products with a zero-waste mindset, integral to a circular economy.

“A circular economy means products are designed in such a way that they can be used again, or even multiple times, to maximise their value,” Dr Schandl said.

“We hope this program will help to accelerate technologies and solutions to grow economies, create jobs and reduce waste.”

There is no participation fee for startups in the program, which will give founders opportunities to travel between Australia and India and potential eligibility for up to $75,000 in non-equity grants.

Applications for the RISE Accelerator program are currently open and will close on Sunday, January 7, 2024.

This news comes after the CSIRO recently lifted the threshold on its Kick-Starts Grants program, opening up that program to thousands more Australian SMEs.