The Indian Prime Minister Narendra Modi, along with the Prime Minister of Israel, Benjamin Netanyahu launched a bilateral innovation challenge for startups in Israel and India – India-Israel Innovation Bridge.
The Israel Innovation Authority, Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce & Industry, Govt. of India have joined hands for the challenge.
As per an official statement, the challenge will be hosted on the India-Israel Innovation Bridge. It is an online platform to facilitate bilateral collaboration between Israeli and Indian startups, tech hubs, corporations, and other key innovation ecosystem players in both countries.
The Innovation Bridge will provide comprehensive guides and toolkits to help startups explore expansion opportunities.
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iCreate (Ahmedabad), T-Hub (Hyderabad), and Pears Program have made an initial commitment to the selected startups that will be chosen at the innovation challenge. Corporate partners of the challenge include Omnivore Partners, Ernst & Young, PwC, among others.
What’s In It For Startups
The startups will be working to develop solutions to some of the world’s most critical challenges in agriculture, water, and digital health. The initiative is aimed at leveraging the technological strength of Israel and with Indian market access to develop technology solutions.
The participating startups will be selected by a joint panel of judges to give an opportunity to further develop their solutions through a unique programme managed by Invest India and Israel Innovation Authority.
Selected startups will have an opportunity to interact with end users, investors, corporations, and other potential partners in both countries.
The startups will get a chance to have a cross-border mentorship and incubation/acceleration prizes. Apart from this, they will also have an opportunity to participate in an exclusive co-creation summit in India with industry leaders, experts, and potential partners, among other benefits.