Start-Up Nation Central signs MoU with TiE to boost technological innovation of Israeli and Indian startups
Israeli not-for-profit Start-Up Nation Central signed a Memorandum of Understanding (MoU) with TiE (The IndUS Entrepreneurs), to achieve full implementation of sustainable Israeli and Indian technologies in the foodtech sector, particularly in the fields of novel foods, post-harvest solutions, alternative protein, food safety, and packaging. TiE President Manohar Reddy and Start-Up Nation Central CEO Avi Hasson signed the MOU during the TiE Sustainability Summit (TSS 2021) held in Hyderabad, India.
The MOU entails a special mentorship program consisting of three eight-month cohorts that seek to connect industry leaders to Israeli and Indian startups, in an effort to support their market entry process into India through matching, mentoring, connections, and onboarding strategic stakeholders. The end goal of the program is to reach commercial agreements, which is what differentiates this initiative from previous comparable programs.
Manohar Reddy, President of TiE Hyderabad and Chairman of the TiE Sustainability Summit 2021: "We are very excited about our partnership with Start-Up Nation Central and the Impact the collaborative cohorts program will create for startups from both India and Israel. It gives me immense pleasure to see this program getting launched at the world's largest sustainability summit for entrepreneurs on October 4th."
After the signing, the following four applicants pitched their solutions in order to be selected for the Mentorship Program. The selection process concludes on October 15th; in total, six companies will be participating in the program.
- Commercial grasshopper farming company Hargol
- Automated cooking manufacturer Kitchen Robotics
- Vision-based robotic controller Deep Learning Robotics
- Humidity control solution Umigo
Anat Bernstein-Reich, Founding President, Israeli branch of TiE: "The program will allow Israeli companies to learn of first-hand how to work in the Indian market. The Indian market is deceptive. People may speak English, but the business codes are different, the market structure is different, and working assumptions made by Israeli companies do not stand the test of India's reality. The joint program will make the market accessible to Israelis and make it easier for them to enter this important market."
Avi Hasson, CEO, Start-Up Nation Central: "We are proud and excited to partner with TiE on this significant program. Technological innovation and entrepreneurship have the opportunity to change the face and trajectory of nations. Farmers are facing increasingly harsher weather conditions, environmental pollutants, and soil depletion which, coupled with global population growth and increased product demand, compounds global concerns over food scarcity. Technologies that have the potential to either improve crop yields or transform, preserve, and tailor foods with improved functional and nutritional values will ensure a stable supply of food in the future. Given the size of the market and population, as well as the exciting tech scene in India, this partnership has the potential to offer incredible opportunities, in particular when it comes to the AgriFood-Tech sector."