DST has launched this programme 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.
"India and Russia have a long-standing bilateral scientific cooperation," said Prof. Ashutosh Sharma, Secretary, Department of Science and Technology. "The launch of the India-Russia Joint Technology Assessment and Accelerated Commercialization Programme is another step towards strengthening the Science, Technology and Innovation ties between the two countries."
As per DST, the programme will run through two annual cycles with up to five projects to be funded under each cycle.
The projects sought by DST will be on leading S&T focus areas, including but not limited to, renewable energy, new materials, IT & ICT (including AI, AR, VR), medicine & pharmaceuticals, aerospace, alternative technologies, environment, biotechnologies, robotics and drones.
Over the period of next two years, DST is looking to provide funding of up to INR 15 crores to 10 Indian SMEs/startups. FASIE will provide similar funding to the projects from Russian.
The programme will provide access to partial public funding for jointly selected projects with the participation of at least one startup/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.
FICCI will be the implementing agency for the programme on behalf of DST.
The programme is accepting applications under two broad categories, Joint Partnership Projects and Technology Transfer/Adaptation. The last date to apply for the first round of the call is September 30, 2020. To learn more about the program visit www.indiarussiainnovate.org.
