FASIE-DST-FICCI collaboration
The Indo-Russia Joint Technology Assessment and Accelerated Commercialization Programme aims to create an ecosystem wherein innovative Indian and Russian S&T led SMEs, Start-ups and Enterprises come together to drive B2B/B2G/B2C business ventures for mutually-inclusive socio-economic impact development.
The programme, launched 23 July 2020, aims to identify innovative technologies from India and Russia through a rigorous application and evaluation process.
It is a joint initiative of India’s Department of Science & Technology (DST) and Foundation for Assistance to Small Innovative Enterprises (FASIE).
On the Indian side, the Federation of Indian Chambers of Commerce & Industry (FICCI) would be implementing this programme on behalf of the Department of Science & Technology.
A detailed matchmaking process will be implemented to create sustainable joint technology ventures for market-ready technology-based solutions, products and services; with the potential to scale in India, Russia as well as other countries.
The programme is jointly funded by DST and FASIE and will provide access to public funding for jointly selected projects with the participation of at least one SME from Russia and one SME and Startup from India.
The joint projects will be partially funded by both the agencies, with the remaining costs to be borne by the project partners themselves either through their own funds or alternate sources of external funding.
The key programme objectives are:
Promote joint research and development (R&D) between India and Russia
Promote validated technology transfer between India and Russia
Promote innovation and entrepreneurship development through financial, capacity building, mentorship and business development support to create successful joint enterprises
Development of a robust S&T and R&D ecosystem to scale mutually-beneficial innovations of both the countries
Provide financial support to five technology projects per cycle between India and Russia.
Benefits:
Access to Funds: The top five selected India and Russian partners will be provided partial funding support by DST and FASIE respectively. The remaining cost will be borne by the partners.
Capacity Building: Workshop(s) with a focus on but not limited to, partnership mentoring and scaling; business plan and strategy; basic principles of technology commercialization, readiness for market; legal and IP advisory; competitive positioning; creating sustainable enterprises etc.
#Mentorship and hand-holding support: One to one mentoring by Indian and Russian Experts.
Matchmaking support: Matchmaking support by @FICCI and @FASIE to the shortlisted enterprises.
Technology Transfer: Technology Transfer guidance and handholding support to the Indian #entrepreneurs.
#Technology #Showcase and #Networking #Opportunity: Opportunity to showcase innovations at a technology expo attended by high-level government dignitaries, global industry leaders and media.
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. On behalf of DST, FICCI will implement the program in India.
Over a period of two years, the Department of Science and Technology will fund up to Rs.15 crores to 10 Indian SMEs and 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 and SME from India and one SME from Russia.
The selected projects will be required to bear partial funding as well, either through 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 and Adaptation. The last date to apply for the first round of the call is 30 September 2020.
FASIE General Director Sergey Polyakov said, “We are aware of the knowledge and expertise of India in the larger science, technology, innovation and entrepreneurship ecosystems and our extremely happy to partner with India on this program. We hope the innovations and technologies supported through this program will help us face and overcome the challenges in this new normal.”
Indian Ambassador to Russia D.B. Venkatesh Varma added that the S&T-led innovation and entrepreneurship are priorities of both countries. “There is a history of scientific cooperation between the countries and with this initiative, we take the next step of commercialization.” @artificialintelligence #machinelearning #dataanalytics /fiinews.com
