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Press Release

Department of Science and Technology launches INR 15 Crore fund to support India -Russia collaboration joint R&D and cross-country technology adaptation

Jul 23, 2020

NEW DELHI, 23 July, 2020: The Department of Science and Technology today launched the India-Russia Joint Technology Assessment and Accelerated Commercialization Program 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. The program 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 program 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. The program 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.

 

The program is accepting applications under two broad categories, i.e. Joint Partnership Projects and Technology Transfer/Adaptation. Last date to apply for the first round of the call is September 30,2020. A dedicated portal www.indiarussiainnovate.org has been developed for this purpose.

 

Speaking at the launch, Prof Ashutosh Sharma, Secretary, Department of Science and Technology, Govt. of India said, "India and Russia have a long standing bilateral scientific cooperation. The launch of the India-Russia Joint Technology Assessment and Accelerated Commercialization Program is another step towards strengthening the Science, technology and Innovation ties between the two countries. This initiative is very timely, wherein we can leverage joint intellectual and financial resources to develop technologies that would provide the solutions for tomorrow. He wished the program a huge success."

 

H.E. D.B. Venkatesh Varma, Indian Ambassador to the Russian Federation said, "India has one of the largest start-up ecosystems in the world, 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."

 

Mr Sergey Polyakov, General Director, Foundation for Assistance to Small Innovative Enterprises (FASIE), Russia said, "We are extremely happy to launch the India-Russia Joint Technology Assessment and Accelerated Commercialization Program. We are aware of the knowledge and expertise of India in the larger science, technology, innovation and entrepreneurship ecosystems and our extremely happy to partner with India on this program. We hope the innovations and technologies supported through this program will be help us face and overcome the challenges in this new normal." 

 

Mr Dilip Chenoy, Secretary General, FICCI, stated, "The launch of the India-Russia Joint Technology Assessment and Accelerated Commercialization Program today is a testimony of both country's commitment to further strengthen the S&T cooperation. This initiative will create an ecosystem for Indian and Russian S&T-led SMEs and start-ups to come together to develop new technological solutions. We are glad to announce the launch of this program as we are certain that collaborations such as these will help both countries move towards revival of the economies leading to a sustainable growth."

 

Mr SK Varshney, Adviser & Head, International Cooperation DST stated that both countries have been working for many decades in areas of science & technology cooperation resulting into knowledge generation, proto-type development and institution built up. There was a need to convert knowledge in to 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.

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