BENGALURU: A robust partnership between India and Israel could boost the start-up ecosystem in both the countries. This could mean a $25 billion opportunity for start-ups, says a new report by Nasscom and Accenture.
The report, titled ‘Collaborative Innovation: The vehicle driving Indo-Israel prosperity’, released on Wednesday on the occasion of the 25th anniversary of India-Israel diplomatic relations, states that by 2025, up to $25 billion of revenue potential can be unleashed for businesses in the two nations through cross-border investment into Indian and Israeli start-ups.
The report also recommends the creation of a programme IINSPIRE- Israel India Startup Platform for Innovative Research and Entrepreneurship. It identified five areas of opportunity viz agriculture, defence, energy, deep tech and health care and life sciences post discussions with more than 50 experts from the countries. This framework aims to unleash the combined power of these two nations to deliver on Vision 25/25.
India and Israel’s innovation ecosystems share unique innovation complementary traits in three key areas — temperament, talent and technology. Further, it noted that as technology products and services leaders, collaboration between the two countries promises to unlock significant gains across key sectors of mutual interest.
“A systematic approach and an institutionalised framework are needed to capitalise on their complementary strengths, deepen relationships and strengthen understanding of each other’s markets,” it stated.
KEY FINDINGS
India and Israel’s innovation ecosystems share unique complementary traits in three key areas —talent, temperament and technology
As technology products and services leaders, collaboration between the two countries will unlock significant gains across key sectors of mutual interest
A systematic approach and an institutionalised framework are needed to capitalise on their complementary strengths, deepen relationships and strengthen understanding of each other’s markets
A report released by global consulting firm Accenture and IT trade body Nasscom have defined ‘Vision 25/25’, which states by 2025, up to $25 billion of revenue potential can be unleashed for businesses in the two countries through cross-border investment into Indian and Israeli start-ups