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Source: The post is based on the article “RISE Accelerator: AIM– NITI Aayog launches it to support Australian and Indian circular economy startups” published in “PIB” on 21st November 2023
Why in the News?
The Atal Innovation Mission (AIM) under NITI Aayog has launched a new accelerator program called Rapid Innovation and Startup Expansion (RISE).
What is the RISE accelerator Program?
| Specifications | Details |
| Launched by | India and Australia |
| Aim | To support startups and small to mid-sized enterprises (SMEs) working on circular economy technologies and solutions in India and Australia |
| Partnership between | CSIRO, Australia’s National Science Agency and Atal Innovation Mission (AIM). |
| Focus themes | 1) Climate Smart Agriculture 2) Clean Economy 3) Waste and Circular Economy 4) Climate Smart Mobility |
| Benefits given | 1) There is no charge for startups to participate in the program. 2) Participating startups may also be eligible for up to INR 40 lakhs in non-equity grants. |
| Significance | 1) It will help in addressing common challenges in environment and climate technology areas. 2) It will help create jobs and reduce waste. 3) Strengthen diplomatic ties between the two countries. |
UPSC Syllabus: Environment/International Relations
