- The event would be connecting Indian and Russian Science & Technology or joint R&D for technology development and for cross-country technology adaptation
- The Department of Science and Technology would be funding up to INR 15 Crores to ten Indian SMEs/Start-ups
The Department of Science and Technology along with the Federation of Indian Chambers of Commerce and Industry (FICCI) and Foundation for Assistance to Small Innovative Enterprises (FASIE) of the Russian Federation has launched the India-Russia Joint Technology Assessment and Accelerated Commercialisation Programme on July 23rd, 2020.
The programme is claimed to connect Indian and Russian Science & Technology (S&T) led SMEs and Start-ups for joint R&D for technology development and for cross-country technology adaptation.
Two annual cycles
Apart form that the programme will run through two annual cycles with up to five projects funded under each cycle. Projects are being classified on the basis of leading S&T focus areas which also include but not limited to, IT&ICT (including AI, AR, VR), Medicine & Pharmaceuticals, Renewable Energy. The projects also include Aerospace, Alternative Technologies, Environment, New Materials, Biotechnologies, Robotics and Drones. FICCI shall implement the program on behalf of DST in India.
Over a period of two years, the Department of Science and Technology would be funding up to INR 15 Crores to ten Indian SMEs/Start-ups. On the other hand, FASIE shall provide similar funding to the Russian projects. The programme will provide access to partial public funding for joint 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 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.