Israel Innovation Authority has announced that Israeli companies would be supplying India with medical imaging technology, industrial waste filtering systems and facilities to combat fruit flies.
The 'Israel-India Bridge to Innovation' programme initiated in meetings between Prime Minsiter Narendra Modi and his Israeli counterpart Benjamin Netanyahu was launched over the past year with Israel Innovation Authority (IIA) spearheading the initiative on the Israeli side.
In January, Modi and Netanyahu announced joint research and development projects under the India-Israel Industrial R&D and Technological Innovation Fund (I4F).
The fund was announced in July, 2017 during Modi's visit to Israel. Under this, the Department of Science and Technology, India and the National Innovation Authority of Israel have established a USD 40 million fund.
Six Israeli startups that recently won a contest will take part in the 'Israel-India Bridge to Innovation' project launching pilot programmes in India soon, IIA said in a statement.
Eighteen companies in the fields of healthcare, agriculture and water management that were shortlisted to participate in the programme presented their technologies to CEOs and investors from Israel and India last week from which six have been chosen to continue to the final stage where they will pilot their solutions in India.
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"Following the government decision a year ago to invest 240 million shekels by the year 2020 to promote relations with India in the fields of innovation and technology, the 'Israel-India Bridge to Innovation' programme is a golden opportunity for Israeli companies in the fields of healthcare, water management and agritech to achieve prominence and to enter such a significant and developing global market India," said Eli Cohen, Israeli Minister of Economy and Industry.
Among the notable participants taking part at the Demo Day were representatives of India's Invest India agency.
The keynote speaker at the event was Rohtash Mal, Chairman of EM3 Agriservices, renowned in India as the 'Uber of farmers.' The company rents out equipment to farmers based on time or acres farmed, doing away with the need for farmers to purchase expensive equipment and giving them access to advanced technology at low costs.
The six winning companies selected to continue to the pilot stage of the programme are - Amaizz, a company that has developed a portable drying device enabling dry storage of agricultural produce, Biofeed, a company that has developed a device to combat fruit flies, Zebra Medical, a company developing medical imaging technologies, MobileODT, a company that has developed devices to diagnose cervical cancer, Aquallence, a company that has developed a device to treat water with Ozone and AMS Technologies, a company that has developed a system to filter industrial water.
All the six solutions have major relevance in the Indian context.
The 18 companies initially selected were reviewed by a panel of judges from Israel and India who looked at over 150 applications.
The companies then took part in a six-month process that included training and workshops, including information regarding Indian markets, together with professional visits, networking events, mentoring and meetings with senior executives and officials, including investors, senior management and experts and entrepreneurs in the fields of water management, agriculture and healthcare.
"The Israel-India Bridge to Innovation is a springboard for cooperation between Israeli innovators and Indian corporations. The collaboration between India, a massive economy with the largest growth rate in the world, and Israel, the 'Startup Nation', to develop technological solutions to various challenges, is synergistic and unique. "
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