Ahmedabad-based startup incubator International Centre for Technology and Entrepreneurship (iCreate) and Israeli non-profit Start-Up Nation Central (SNC) on Monday launched the India-Israel Innovation Accelerator.
The bilateral programme, which is expected to drive innovation and technology cooperation between upstarts from both countries, has chosen six Israeli technology startups for the maiden cohort, a statement said.
The selected startups offer solutions in the areas of electric powertrain, water desalination, laboratory analytical instruments, driver safety and data centre management, the statement said, without disclosing their names.
During the programme, the startups would be provided with a comprehensive understanding of the Indian ecosystem through group mentoring sessions, workshops, and one-on-one interactions, led by subject matter experts, Indian entrepreneurs, government functionaries and business leaders. This will enable the companies to work on the product-market fit and localise their business models for Indian customers, the statement said.
The demo day event will allow the startups to present their business ideas or products to Indian corporations, investors, and other stakeholders interested in paid pilots, go-to-market opportunities, collaborative research and development projects.
iCreate and SNC, which connects Israeli startups, investors, and technologies with MNCs, governments, investors and other stakeholders from around the world, had signed a Memorandum of Understanding (MoU) back in September 2020 to initiate this bilateral programme.
Announcing the launch of the accelerator on Monday, Anupam Jalote, CEO of iCreate, said, “The programme is sure to be the first milestone on the road to making India the innovation capital of the world. Through this unique partnership, we hope to kick start a culture of strategic global partnerships for addressing real-life challenges with innovative tech-enabled solutions. The early involvement of Indian corporates will help ensure that the best product-market-fit emerges.”
The virtual inauguration session also saw the presence of Indian ambassador to Israel Sanjeev Singla; Israeli ambassador to India Ron Malka; Uri Gabai, co-general manager at SNC; and MK Das, additional chief secretary for the government of Gujarat.