In a first-of-its-kind collaboration, Accenture, the Consulate General of Israel to South India, and the National Association of Software and Services Companies (NASSCOM) have jointly launched the scalerator programme.
The scalerator is an exclusive program that aims to enhance the collaboration between Israeli and Indian startups to create innovative solutions for global markets.
With support from Accenture Ventures’ Open Innovation initiative, scalerator aims to identify growth-stage Israeli startups with deep expertise in emerging technologies. This includes cybersecurity, cloud computing, artificial intelligence, automation, the Internet of Things, blockchain and extended reality.
Under the scalerator programme, Israeli startups will further connect with India’s startup community through NASSCOM’s 10,000 Startups initiative.
The launch of the scalerator program follows an extensive study of Israel’s startup ecosystem undertaken by Accenture Ventures, outlined in the report, Collaborative Innovation: The vehicle driving Indo-Israel prosperity, published in collaboration with NASSCOM.
The report outlines “Vision 25/25”, which estimates that a cumulative cross-border investment of $25 Bn into Indian and Israeli start-ups by 2025 can create 25 world-class products across different sectors, unleashing a revenue potential of up to $25 Bn from these products by 2025.
Commenting on the development, Dana Kursh, Consul General of Israel to South India, said, “We see the scalerator program as vital to further developing India-Israel collaboration. The industry environment in Bengaluru – the Silicon Valley of India – and in so many other places in India, is the perfect match to the Israeli technology sector. Through this collaboration with Accenture and NASSCOM, we can further connect our two ecosystems and enable Indian and Israeli startups to develop cutting-edge technological solutions that benefit all.”
What’s In Store For The Startups Under Scalerator Programme
Accenture Ventures will provide guidance to scalerator participants, leveraging its open innovation expertise and global reach to help startups build and bring to market innovative solutions that help address business challenges of Accenture’s Indian and global clients.
The Consulate General of Israel to South India will work with Accenture Ventures to oversee the process of selecting startups for the program. The Consulate will also provide business development support to the selected startups from Israel, and facilitate an understanding of the available local funding channels.
Dr. Shai Moses, Consul for Economic and Trade Affairs, the Consulate General of Israel to South India, added, “India and Israel share an appetite for new technology, and we’re glad to collaborate with Accenture and NASSCOM to support disruptive Israeli startups with knowledge sharing, access to India’s strong domestic market and the opportunity to collaborate with India’s technology industry.”
Startups in the scalerator program will be hosted at the NASSCOM Startup Warehouse in Bengaluru, as part of NASSCOM’s 10,000 Startups initiative. NASSCOM will provide mentorship opportunities for participants and involve them in market access forums including industry events and customer engagements.
Earlier this week, the Israel Innovation Authority (IIA) also launched a new pilot programme for Israeli startups to test their products in India. Under the new pilot programme, 18 finalists will pitch their technologies to executives from Indian companies.