EU|BIC T-Hub Foundation (India), iCreate (Ahmedabad, India) and additional Israeli partners are part of the newly launched bilateral innovation challenge calling on Israeli and Indian startups to combine forces to develop solutions to some of the world’s most critical challenges in agriculture, water and digital health.
Launched last week by Prime Minister Benjamin Netanyahu and India’s Prime Minister Narendra Modi, the initiative aims at leveraging Israel’s strengths in technology, with Indian market access to develop technology solutions for the world’s most critical challenges.
The challenge is to be hosted on the new India-Israel Innovation Bridge, an online platform to facilitate bilateral collaboration between Israeli and Indian startups, techhubs, corporations and other key innovation ecosystem players.
As part of the challenge, a joint panel of judges will select entrepreneurs from India and Israel who will get the opportunity to further develop their solutions through accelerators and incubators such as T-Hub Foundation.
The selected startups from both countries will have the opportunity to interact with end users, investors, corporations and other potential partners in India and Israel.
The Innovation Bridge will promote knowledge-exchange by providing comprehensive guides and toolkits to help startups explore expansion opportunities.
The fund is to be run by the Israel Innovation Authority and the parallel executive agency under the auspices of the Indian Ministry of Science and Technology, and will be a platform for diverse technological cooperation between the two countries, leveraging the technological strengths of both nations.
Each country will allocate $4 million per year over a five-year period for the fund’s activities, for a combined total of $40 million.
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