The Department of Science and Technology has launched the India-Russia Joint Technology Assessment and Accelerated Commercialization 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.
BASIC FACTS
The programme will 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.
This initiative will create an ecosystem for Indian and Russian S&T-led SMEs and startups to come together to develop new technological solutions.
The programme 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 INR 15 Crores to ten Indian SMEs/Start-ups and FASIE will provide similar funding to the Russian projects.
