Key points
- Entering overseas markets presents challenges for startups and small-to-medium enterprises (SMEs), including navigating new regulations, cultural differences and establishing local networks.
- The RISE Accelerator program is tailored to support Australian and India startups and SMEs working on climate and environment technologies to enter the local market.
- Built on bilateral cooperation and cooperation, RISE is helping participants gain local insights and critical connections, increasing their potential for success and sustainable impact.
Under the Australian Government’s India Economic Strategy 2022, we have partnered with India's Atal Innovation Mission (AIM) to deliver the India Australia Rapid Innovation and Startup Expansion (RISE) Accelerator.
Launched in 2023, the RISE Accelerator program supports startups and small-to-medium enterprises (SMEs) with science-backed innovations to fast-track the expansion of their technologies internationally.
The focus of the Program is on climate and environment solutions, and is a unique model of bilateral cooperation, offering SMEs tailored support, one-on-one coaching, and crucial in-country connections. Pramit Dash is the AIM director of the RISE Program.
"We focus on creating opportunities that our startups can manage – challenging but achievable. Once they build trust in our relationship and confidence in their service delivery, we explore the next steps together," Pramit said.
We asked the first cohort about their experiences during the nine-month program. Here are some of the benefits RISE participants identified for startups considering expansion between India and Australia.
Planning is a key to success
Expanding into new markets requires careful planning and support to navigate challenges effectively. Many startups often face the risk of distractions that can derail their expansion efforts.
RISE’s network of experienced facilitators and trusted coaches work closely with participating startups to help them stay on track. This includes identifying key opportunities as well as potential hurdles early on, and adapting innovations to fit local market needs.
Dr Lucie Semenec, co-founder and CEO of natural dyeing startup Newera Bio, said they benefited significantly by refining their value proposition and overseas expansion strategy before travelling to India as part of the Program.
"By refining our message, we effectively communicated our value proposition to stakeholders during RISE Immersion Week," Lucie said.
"This experience taught us the importance of clearly demonstrating value to customers, independent of price competitiveness with fossil fuel dyes."
In-country site visits offer invaluable insights
In addition to online learning, in-country visits form a crucial component of the nine-month accelerator.
Tina Funder, founder of Alt. Leather, said she gained invaluable first-hand knowledge by observing the footwear and accessories production process in a large industrial manufacturing setting in India.
"Observing traditional leather being utilised on the production line in India provided insights that no amount of desktop research could provide," Tina said.
"Seeing the process first-hand gave me a better understanding of how our own material would withstand Indian production processes, enabling us to refine our material properties moving forward."
Beyond site visits, AIM provides RISE participants with access to nearly 70 Atal Incubation Centres across India. Newera Bio was introduced to AIC-NIFT TEA, an incubation centre in India for textiles and apparels, to connect with Indian counterparts also working on natural dyeing technologies.
“We plan to work closely with NIFT TEA in India to fine-tune and pilot test our dyes, enhancing our Life Cycle Analysis (LCA) to strengthen our dye's value proposition for customers,” Lucie said.
Peer-to-peer collaboration a crowd favourite
From exchanging perspectives on business models, to seeking guidance on local business development efforts and culture, program participants are valuable sources of local knowledge and support for one another. In some cases, this collaboration can lead to companies joining forces.
Australian startups Sustainable Oil Recovery and Remediation (SORR) and Circular Seed, for example, offer complementary technologies in waste and pollution remediation. Circular Seed seeks to deploy mobile recycling units in schools and coastal villages to intercept and recycle plastic waste at the source. The company also provides climate education to schools, to prevent environmental pollution. SORR’s sponge technology provides a sustainable solution for oil recovery in waterways.
Through their time together during RISE Immersion Weeks, the founders of SORR and Circular Seed began exploring collaboration on their market entry and expansion strategies, particularly in Goa's coastal region. Their joint focus on the region has strengthened each company's local knowledge and connections, laying the foundation for longer-term collaboration.
Circular Seed plans to provide SORR with end-of-life processing technology and plastic recovery for their planned production facility in Goa. When the time comes, SORR and Circular Seed will explore replicating their collaborative work and community engagement in other jurisdictions.
Even without commercial ties, peer-to-peer camaraderie and connection are vital on the startup journey. Simple tools like the cohort's WhatsApp group, enable participants to keep in touch throughout the Program and leverage their trusted relationships to solve various challenges.
Ryan Grove is the co-founder of Circular Seed.
"Being a startup founder, even a co-founder, can be a stressful and solitary path. Participating in the RISE cohort has been uplifting – it diminishes the sense of isolation, working alongside others dedicated to sustainability challenges," Ryan said.
Test, iterate and pilot
RISE helps startups develop a bespoke set of pilot activities that validate their market approach. Through these pilot projects, startups gain confidence and start building credibility with potential customers in their new market.
For example, CarbonCraft, a Bangalore-based designer and producer of tiling products made from upcycled carbon, has partnered with Australian firm Viewco through the RISE Accelerator.
Tejas Sindal, the founder of CarbonCraft, said through this collaboration CarbonCraft will launch its product in Australia for the first time.
“We're delighted to have been introduced to a trusted partner who understands our philosophy, with meaningful insights and understanding for positioning our products in Australia. It's a true collaboration, with exciting prospects for our partnership development,” Tejas said.