Israel intends to do business with India

Good news for the Indian startups!

As Prime Minister Modi visited Israel recently, a lot happened in the startup space. Modi and his Israeli counterpart Benjamin Netanyahu stressed on areas such as innovation, technology, defence, water conservation, agriculture management and space studies. The world leaders launched a technology fund named Israel India Innovation Initiative Fund(I4F) to improve financial relations between the two countries.

Here are a few pointers by OurCrowd, an Israeli equity crowdfunding platform on what perhaps India and Israel could perhaps do together in the startup space:

The platform has signed three major deals with India last month. It mentions about a Jerusalem based incubator that would be aided by Reliance Industries, with Hebrew University and Motorola Solutions. Secondly, a deal has been signed with Reliance Capital, where Indian investors would invest in Israeli companies. The third deal was set up with a Bangalore-based startup crowdfunding entity called LetsVenture.

Partnering with LetsVenture, OurCrowd looks forward to developing crowdfunding ecosystem for startups. The main intention is to use ‘the power of the crowd’ to demand the same rights as every investor. The platform currently aims to provide options to investors like preferred stock, pre-emptive rights, anti-delusion protection and crowd mobilisation for assistance.

Research says that India and Israel are two different nations with some common shared interests. As per the reports by the agency, India is emerging as a digital leader in fintech and e-governance.

In 2016, Beckton Dickenson, and Co., an Indian firm was in collaboration with Israel’s Sight Diagnostics for malaria detection and testing. “India is a primary market for healthcare," said Jon Medved, CEO and founder of OurCrowd. He added, "Several Israeli companies are exploring opportunities in digital health services, by using existing platforms such as biometrics and advanced wireless connectivity.”

With Israel taking a giant leap with India, do you think the Indian startup space would glam up even more? Please share your views with us.

Excerpts from: Forbes