News Excerpt
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.

Highlights
•    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.
•    The launch of the programme is very timely, wherein we can leverage joint intellectual and financial resources to develop technologies that would provide the solutions for tomorrow.
•    India has one of the largest start-up ecosystems in the world and the number of unicorns is testament to the tremendous talent the country possesses.
•    S&T-led innovation and entrepreneurship are priorities of both countries and will be a key point on the agenda as President Putin visits India later this year.
•    There is a history of scientific cooperation between the countries, and with this initiative; we take the next step of commercialization.
•    There was a need to convert knowledge into products, and such a program would connect Indian and Russian scientific & production houses, researchers, entrepreneurs to address societal challenges, not only of two countries but globally.
•    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 Croresto ten Indian SMEs/Start-ups and FASIE will provide similar funding to the Russian projects.
•    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 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 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.

Federation of Indian Chambers of Commerce and Industry (FICCI)
    Established in 1927, it is the largest and oldest apex business organisation in India.
    A non-government, not-for-profit organisation, FICCI is the voice of India's business and industry.
    From influencing policy to encouraging debate, engaging with policy makers and civil society, FICCI articulates the views and concerns of industry.
    It serves its members from the Indian private and public corporate sectors and multinational companies, drawing its strength from diverse regional chambers of commerce and industry across states, reaching out to over 2,50,000 companies.
    FICCI provides a platform for networking and consensus building within and across sectors and is the first port of call for Indian industry, policy makers and the international business community.