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DST launched Rs 15 Crore fund to support India-Russia collaboration joint R&D and cross-country technology adaptation

DST launches INR 15 Crore fund to support India-RussiaOn July 24, 2020, The Department of Science and Technology (DST) under the Ministry of Science and Technology launched India-Russia Joint Technology Assessment and Accelerated Commercialization Programme in partnership with Russia’s Foundation for Assistance to Small Innovative Enterprises (FASIE). On the Indian side, the programme will be implemented & funded by Federation of Indian Chambers of Commerce & Industry (FICCI) on behalf of the DST.

  • The objective of this bilateral initiative is to strengthen the Science, Technology and Innovation ties between the two countries by connecting Indian, and Russian Science & Technology (S&T) led Small and medium-sized enterprises (SMEs) and Start-ups for joint development through Research & Development (R&D) along with technology adaptation.

Implementation of programme; DST to fund up to Rs 15 cr

The programme will run through two annual cycles and top five selected Indian and Russian partners will be provided partial funding support. DST will fund up to Rs 15 Crores to Indian SMEs/Start-ups and FASIE will provide similar funding to the Russian projects.  The remaining cost will be borne by partners.

  • 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. The last date to apply for the first round is September 30, 2020 at www.indiarussiainnovate.org.

Static Points:
Secretary Department of Science and Technology (DST)– Prof. Ashutosh Sharma
Indian Ambassador to Russia – D. Bala Venkatesh Varma
Foundation for Assistance to Small Innovative Enterprises (FASIE) General Director– Sergey Polyakov

About FICCI:
Secretary General– Dilip Chenoy
President– Sangita Reddy
Headquarter– New Delhi

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Minister of Defence (Raksha Mantri) Rajnath Singh paid a 3-day visit to Russia from June 23- 25, 2020 on the invitation of Defence Minister of the Russian Federation Sergey Shoigu to attend the 75th Anniversary of Victory Day Parade and to strengthen the longstanding special and privileged strategic partnership between India and Russia.