India-Russia Joint Technology Assessment and Accelerated Commercialization Program

Program connects Indian & Russian Science & Technology led SMEs and Start-ups

• The Department of Science and Technology has launched the India-Russia
  Joint Technology Assessment and Accelerated Commercialization Program
• It is in partnership with the Federation of Indian Chambers of Commerce and
  Industry (FICCI) and Foundation for Assistance to Small Innovative Enterprises
  (FASIE) of the Russian Federation
• The program will connect Indian, and Russian Science & Technology (S&T) led
  SMEs and Start-ups for joint R&D for technology development and for crosscountry technology adaptation

Significance of the Program

• It is a history of scientific cooperation between the countries, and with this
  initiative
• The launch of the India-Russia Joint Technology Assessment and Accelerated
  Commercialization Program is another step towards strengthening the Science,
  Technology and Innovation ties between the two countries
• On behalf of DST, FICCI will implement the program in India
• This initiative is very timely, wherein we can leverage joint intellectual and
  financial resources to develop technologies that would provide the solutions for
  tomorrow
• This initiative will create an ecosystem for Indian and Russian S&T-led SMEs
  and startups to come together to develop new technological solutions
• The program will run through two annual cycles with up to five projects to be
  funded under each cycle
• Projects are being sought on leading S&T focus areas, including but not limited
  to, IT & ICT (including AI, AR, VR), Medicine & Pharmaceuticals, Renewable
  Energy, Aerospace, Alternative Technologies, Environment, New Materials,
  Biotechnologies, Robotics and Drones

Brief Background for the program

• India has one of the largest startup ecosystems in the world; the number of
  unicorns is testament to the tremendous talent the country possesses
• S&T-led innovation and entrepreneurship are priorities of both countries and
  will be a key point on the agenda as President Putin visits India later this year
• There was a need to convert knowledge into products, and such a program
  would connect Indian and Russian scientific & production houses, researchers,
  entrepreneurs to address societal challenges, not only of two countries but
  globally
• This initiative will create an ecosystem for Indian and Russian S&T-led SMEs
  and startups to come together to develop new technological solutions

Financial Support

• Over a period of two years, the Department of Science and Technology will fund
  up to INR 15 ores to ten Indian SMEs or Start-ups and FASIE will provide
  similar funding to the Russian projects
• The program will provide access to partial public funding for jointly selected
  projects with the participation of at least one start-up or SME from India and
  one SME from Russia
• The selected projects will be required to bear partial funding as well, either
  through their own funds or alternate sources of funding
• In addition to the financial support, the teams will also be supported through
  capacity building, mentorship and business development
• The program is accepting applications under two broad categories, i.e. Joint
  Partnership Projects and Technology Transfer or Adaptation

Pic courtesy : twitter.com