Context: The Department of Science and Technology has launched the India-Russia Joint Technology Assessment and Accelerated Commercialization Program.
About the Program:
- Parties: It 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.
- It will connect Indian, and Russian Science & Technology (S&T) led SMEs and Start-ups for joint R&D to leverage joint intellectual and financial resources to develop technologies that would provide the solutions for tomorrow, addressing societal challenges, not only of two countries but globally.
- It will run through two annual cycles with up to five projects to be funded under each cycle.
- Projects are being sought on S&T focus areas like IT & ICT (including AI, AR, VR), Medicine & Pharmaceuticals, Renewable Energy and beyond.
- On behalf of DST, FICCI will implement the program in India.
- The programme 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 programme is accepting applications under two broad categories, i.e. Joint Partnership Projects and Technology Transfer/Adaptation.
- A dedicated portal www.indiarussiainnovate.org has been developed for this purpose.
- The Department of Science and Technology will fund up to INR 15 Crores to ten Indian SMEs/Start-ups and FASIE will provide similar funding to the Russian projects.
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.
The Federation of Indian Chambers of Commerce and Industry (FICCI):
- It is an association of business organisations in India.
- It was established in 1927 on the advice of Mahatma Gandhi by GD Birla and Purshottamdas Thakurdas.
- It is the largest, oldest and the apex business organization in India.
- It is a non-government, not-for-profit organisation.
- FICCI draws its membership from the corporate sector, both private and public, including SMEs and MNCs.
- The chamber has an indirect membership of over 250,000 companies from various regional chambers of commerce.
- It is involved in sector-specific business building, business promotion and networking.
- It is headquartered at New Delhi and has a presence in 12 states in India and 8 countries across the world.
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