‘scalerator’ aims to enhance the collaboration between Israeli and Indian startups

|June 22, 2018 0
‘scalerator’ aims to enhance the collaboration between Israeli and Indian startups

BANGALORE, INDIA: Accenture, the Consulate General of Israel to South India, and NASSCOM have jointly launched ‘scalerator,’ an exclusive program that aims to enhance the collaboration between Israeli and Indian startups to create innovative solutions for global markets.

Scalerator will identify growth-stage Israeli startups with deep expertise in emerging technologies — particularly cybersecurity, cloud computing, artificial intelligence, automation, the Internet of Things, blockchain and extended reality.

Startups in the scalerator program will be hosted at the NASSCOM Startup Warehouse in Bengaluru. NASSCOM will provide mentorship opportunities for participants and involve them in market access forums including industry events and customer engagements.

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Accenture Ventures will provide guidance to scalerator participants, leveraging its open innovation expertise and global reach to help startups build and bring to market innovative solutions that help address business challenges of Accenture’s Indian and global clients.

The Consulate General of Israel to South India will work with Accenture Ventures to oversee the process of selecting startups for the program. The Consulate will also provide business development support to the selected startups from Israel, and facilitate an understanding of the available local funding channels.

A report by Accenture Ventures estimates that a cumulative cross-border investment of USD $25 billion into Indian and Israeli start-ups by 2025 can create 25 world-class products across different sectors, unleashing a revenue potential of up-to USD 25 billion from these products by 2025.

Rekha M. Menon, chairman and senior managing director, Accenture India said, “Collaboration is key to success in the digital economy. Enhancing the relationship between India and Israel is an opportunity to bring disruptive, advanced technology innovations to the world. The innovation ecosystems in both countries share common talent and technology traits.”

Dana Kursh, Consul General of Israel to South India, said, “The industry environment in Bengaluru – the Silicon Valley of India – and in so many other places in India, is the perfect match to the Israeli technology sector. Through this collaboration with Accenture and NASSCOM, we can further connect our two ecosystems and enable Indian and Israeli startups to develop cutting-edge technological solutions that benefit all.”

KS Viswanathan, vice president, Industry Initiative, NASSCOM, said, “India’s large and growing market, characterized by entrepreneurial zeal, is evenly matched by Israel’s technological prowess. By streamlining intellectual and economic exchange, as well as forging new alliances that foster innovation and entrepreneurship, the scalerator will deepen these ties.”

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