Why is it in the news?

• The Rapid Innovation and Startup Expansion (RISE) Accelerator Program is a joint initiative of India and Australia.

More about the Program

• The program aims to provide support to startups and small to mid-sized enterprises (SMEs) engaged in developing circular economy technologies and solutions in both India and Australia.
• It is a collaborative effort between CSIRO, which is Australia’s National Science Agency, and India’s Atal Innovation Mission (AIM).
• The program focuses on four key themes: Climate Smart Agriculture, Clean Economy, Waste and Circular Economy, and Climate Smart Mobility.
• Benefits for Startups: Startups can participate in the program without incurring any charges. Participating startups may also become eligible for non-equity grants of up to INR 40 lakhs.
• Significance: The program aims to address common challenges in the areas of environmental and climate technology. It has the potential to create job opportunities and contribute to waste reduction. Additionally, it strengthens diplomatic ties and collaboration between India and Australia.