Adani Enterprises Ltd (AEL), the business incubation arm of the Adani Group, has signed a memorandum of understanding (MoU) with the Israel Innovation Authority (IIA) for cooperation in technological innovation between Israeli entities and the Adani Group.
The collaboration will span climate change, cyber, Al, loT, 5G, and agriculture, all of which are core businesses for Adani.
“The MoU will lead to the creation of a cutting-edge innovation platform that will allow Adani businesses to access tech solutions provided by Israeli startups,” read an Adani statement.
The Adani Group will screen and select Israeli startups and other innovation companies developing new and exciting solutions in the tech space. Approved projects will then be assisted by the Adani Group and supported by the Israel Innovation Authority.
Karan Adani, CEO and whole-time director, Adani Ports and Special Economic Zone Ltd, termed the partnership a classic demand-supply match between India and Israel.
“The Haifa Port acquisition demonstrates the Adani Group’s commitment to Israel. The partnership with the Israel Innovation Authority is yet another large step in deepening our relations within Israel and provides us a platform to access the hundreds of cutting-edge technologies that Israel continues to produce. What we offer in return is the broadest sandbox of multiple 828 and B2C industries from Adani to multiple tech companies in Israel,” said Adani.
This cooperation will deepen the existing partnerships that Adani has already established over the past six years in Israel.
Dror Bin, CEO of Israel Innovation Authority, said, “The Adani Group, one of India’s largest conglomerates, is a partner of choice for any Israeli startup looking to tap into the world’s fastest-growing economy – India. With this MoU, the Israel Innovation Authority will provide Israeli companies a unique opportunity to codevelop, pilot, and scale-up innovative technologies in collaboration with Adani’s diverse businesses in renewable energy, Al, logistics, and more.”
The Adani Group’s broader strategy is to digitally integrate its current and future businesses by linking its data centres through a network of submarine and terrestrial cables, industrial level 5G connectivity, building the largest industrial operations cloud in the world, developing the super app to offer a suite of services across its consumer base of 400 million, and establishing a world-class Al centre of excellence.
This tie-up between Adani Enterprises and IIA is expected to further each other’s capabilities, technology leadership, resources, and worldwide presence.
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