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The India-Russia Joint Technology Assessment and Accelerated Commercialization Programme

The India-Russia Joint Technology Assessment and Accelerated Commercialization Programme

Context:

The India-Russia Joint Technology Assessment and Accelerated Commercialization Programme has been launched by the Department of Science and Technology.

  • The program is launched 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.

Key features:

  • Objective: To connect Indian, and Russian Science & Technology led SMEs and Start-ups for joint Research and Development for technology development and for cross-country technology adaptation.
  • The initiative will run through two annual cycles with up to five projects to be funded under each cycle.
  • Projects under the program include leading S&T focus areas, including IT & ICT, Medicine & Pharmaceuticals, Renewable Energy, Aerospace, Alternative Technologies, Environment, New Materials, Biotechnologies, Robotics, and Drones.
  • On behalf of the Department of Science and Technology (DST), FICCI will implement the program in India.

Funding:

  • Over a period of two years, DST will fund up to Rs 15 Crores to ten Indian SMEs/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/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 financial support, the teams will also be supported through capacity building, mentorship, and business development.
  • The program is accepting applications under two categories, i.e. Joint Partnership Projects and Technology Transfer/Adaptation. 

Benefits:

  • The innovations and technologies supported through this program will help both countries to face and overcome future challenges.
  • This initiative will create an ecosystem for S&T-led SMEs and startups to come together to develop new technological solutions.
  • The launch of this program will help both countries move towards the revival of the economies leading to sustainable growth.
  •  India and Russia have a long-standing bilateral scientific cooperation. The launch of the program is another step towards strengthening the Science, Technology, and Innovation ties between the two countries.
  • This initiative can leverage joint intellectual and financial resources to develop technologies. 
  • India has one of the largest startup ecosystems in the world. S&T-led innovation and entrepreneurship are the priorities of both countries. There is a history of scientific cooperation between the countries.

The Federation of Indian Chambers of Commerce and Industry (FICCI)

  • It was established in 1927 as an association of business organizations in India.
  • FICCI is the largest, and oldest business organization in India.
  • It is a non-government, not-for-profit organization.
  • FICCI draws its membership from the corporate sector, both private and public, including SMEs and MNCs.
  • Headquarter: New Delhi
  • It has a presence in 12 states in India and 8 countries across the world.

Source: PIB