New Delhi, Aug 19 : The Atal Innovation Mission and Australia's CSIRO are inviting applications from start-ups and MSMEs for the India Australia Rapid Innovation and Start-up Expansion (RISE) accelerator -- a programme designed to support businesses looking to expand between the two countries, the NITI Aayog said on Monday.

RISE accelerator is a bilateral programme led by CSIRO and the Atal Innovation Mission (AIM), NITI Aayog. It addresses the countries' shared challenges with a focus on environmental and climate issues by supporting the expansion of innovative agritech solutions across borders.

The new applications are for the climate-smart agritech cohort of the RISE accelerator, which is slated to commence in October.

The new cohort will focus on start-ups and MSMEs with technologies and solutions that enhance agricultural productivity, prioritises farmer needs, priorities, and on-farm practices; and also has resilience amid the growing climate variability, resource scarcity, and food insecurity.

'By fostering innovation and providing a platform for start-ups to scale their solutions, the RISE accelerator programme not only addresses the immediate challenges in the agriculture sector but also ensures that farmers can access and adopt resilient practices tailored to their specific needs,' said Pramit Dash, Program Lead, AIM.

'India and Australia share common agricultural challenges, but the scale and diversity of our farming operations are unique. This cohort will enable participants to achieve product-market fit in diverse markets, and rapidly scale their solutions to meet global demands,' added Tamara Ogilvie, Programme Director, CSIRO.

Launched in 2023, the RISE accelerator programme has been instrumental in supporting start-ups and MSMEs in validating, adapting, and piloting their technologies for new markets.

Participation in the programme is free of cost. The selected teams will be eligible for up to Rs 45 lakhs in non-equity grants and will have several opportunities to travel between Australia and India.

Over nine months they will get a blend of self-paced online learning and in-person sessions, which will offer deep market insights, one-on-one coaching, and mentorship from subject matter experts and industry professionals.

The programme is designed to facilitate connections with potential partners and customers, boosting the chances of success in new markets. It will also involve field trials and technology pilots in the latter half.

It also seeks novel solutions to tackle critical agricultural challenges, including boosting productivity, reducing emissions, and optimising natural resource use.

Applications for the RISE accelerator close on September 15, NITI Aayog said.

/IANS