By way of competition, 12 winners will be selected and provided with Rs 5 lakh as a reward. Post this, the Innovation Bridge will mentor start-ups for 6 months through partnered incubators. The winners will be then able to visit India and Israel for 2 weeks where they can learn about latest technologies. Additionally, entrepreneurs will be helped in market access, seed funding etc.
The platform will facilitate interaction between Israeli and Indian innovators, relevant stakeholders, and key ecosystem partners.
Under the programme, innovations addressing global challenges will be showcased. Through the platform, India and Israel will bridge solutions to problems in sectors such as Digital Health, Agritech and Water Technology.
Home to 6000 start-ups and growing at a rate of 1300 per year, Israel has emerged as a start-up hub. Significantly, India and Israel have signed a MoU for $40 million joint Indo-Israel Industrial R&D and Technological Innovation Fund. At the same time, 6 more agreements were inked between the two countries in key areas such as agriculture, science and technology, space and water management.
Israeli PM Benjamin Netanyahu and Indian Prime Minister Narendra Modi addressed a Joint Press Conference, speaking about the intensity and friendship of the two countries, which is intended to be carried forward in years to come.