In a groundbreaking initiative under the Australian Government’s India Economic Strategy 2022, the India Australia Rapid Innovation and Startup Expansion (RISE) Accelerator is driving the future of climate technology by bridging the gap between Indian and Australian startups.
Partnering with India’s Atal Innovation Mission (AIM), the program launched in 2023 and has already begun to reshape the landscape for small-to-medium enterprises (SMEs) focused on science-backed climate and environmental solutions.
A unique bilateral cooperation model
The RISE Accelerator program is not just a conventional accelerator; it’s a unique model of bilateral cooperation offering tailored support, one-on-one coaching, and critical in-country connections. This initiative aims to empower startups and SMEs by providing them with the tools and guidance necessary to expand their innovative technologies on an international scale.
Pramit Dash, the AIM director of the RISE Program, emphasised the importance of building trust and confidence in service delivery. “We focus on creating opportunities that our startups can manage – challenging but achievable. Once they build trust in our relationship and confidence in their service delivery, we explore the next steps together,” Pramit said.
Key benefits identified by RISE participants
Strategic planning for market expansion
Expanding into new markets can be fraught with challenges, but RISE’s network of experienced facilitators and coaches ensures that startups stay on track. They help participants identify key opportunities and potential hurdles early on, adapting innovations to fit local market needs.
Dr Lucie Semenec, co-founder and CEO of Newera Bio, a natural dyeing startup, highlighted the importance of refining their value proposition before venturing into India. “By refining our message, we effectively communicated our value proposition to stakeholders during RISE Immersion Week,” she said. This preparation was crucial for demonstrating value to customers, independent of price competitiveness with fossil fuel dyes.
Invaluable in-country insights
One of the standout features of the RISE Accelerator is the in-country visits, which provide participants with firsthand knowledge of the local manufacturing processes. Tina Funder, founder of Alt. Leather, gained significant insights by observing the footwear and accessories production process in India.
“Observing traditional leather being utilised on the production line in India provided insights that no amount of desktop research could provide,” Tina said. This experience allowed her to understand how their material would withstand Indian production processes, leading to necessary refinements.
In addition to site visits, RISE participants have access to nearly 70 Atal Incubation Centres across India. For instance, Newera Bio connected with AIC-NIFT TEA, an incubation centre for textiles and apparel, to collaborate on natural dyeing technologies.
Peer-to-peer collaboration and support
The camaraderie and collaboration among program participants are invaluable. Startups exchange perspectives on business models, seek guidance on local business development, and sometimes even join forces.
For example, Australian startups Sustainable Oil Recovery and Remediation (SORR) and Circular Seed found complementary synergies in waste and pollution remediation. Their collaboration focuses on Goa’s coastal region, aiming to implement mobile recycling units and sustainable oil recovery technologies.
Ryan Grove, co-founder of Circular Seed, spoke about the importance of peer support. “Being a startup founder, even a co-founder, can be a stressful and solitary path. Participating in the RISE cohort has been uplifting – it diminishes the sense of isolation, working alongside others dedicated to sustainability challenges,” Ryan said.
Overall, RISE assists startups in creating customised pilot projects to test and validate their market strategies. These pilots help startups build confidence and establish credibility with potential customers in new markets.
An example of this is CarbonCraft, a Bangalore-based company that designs and produces tiles from upcycled carbon. Through the RISE Accelerator, they have partnered with the Australian firm Viewco.
Tejas Sindal, the founder of CarbonCraft, mentioned that this collaboration will enable CarbonCraft to introduce its products to the Australian market for the first time.
“We’re delighted to have been introduced to a trusted partner who understands our philosophy, with meaningful insights and understanding for positioning our products in Australia. It’s a true collaboration, with exciting prospects for our partnership development,” Tejas remarked.
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