Over the next two years, DST is considering providing funding of up to Rs.15 crores to 10 Indian SMEs/startups. FASIE will provide similar funding to the projects from Russia
July 28, 2020. By News Bureau
The Department of Science and Technology has announced that it has launched the India-Russia Joint Technology Assessment and Accelerated Commercialization Programme to support and connect Science and Technology (S&T) led SMEs and startups in the two countries for joint R&D for technology development and cross-country technology adaptation.
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," believed 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 yearly cycles with up to five projects to be backed under each cycle.
The projects pursued by DST will be on leading S&T focus areas, comprising 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 considering to provide funding of up to Rs.15 crores to 10 Indian SMEs/startups. FASIE will provide similar funding to the projects from Russia.
The programme will deliver 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 executing agency for the programme on behalf of DST.
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