Israel's Start-Up Nation Central has signed a historic MOU with TiE (The IndUS Entrepreneurs) network to implement sustainable Israeli and Indian technologies in the food-tech sector, particularly in the fields of novel foods, post-harvest solutions, alternative protein, food safety, and packaging.
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The MOU entails a special mentorship program consisting of three eight-month cohorts that seek to connect industry leaders to Israeli and Indian startups. The end goal of the program is to reach commercial agreements, which is what differentiates this initiative from previous comparable programs.
TiE President Manohar Reddy and Start-Up Nation Central CEO Avi Hasson signed the MOU during a recent TiE Sustainability Summit (TSS 2021) held in Hyderabad, India.
"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," said Manohar Reddy, President of TiE Hyderabad and Chairman of the TiE Sustainability Summit 2021.
Anat Bernstein-Reich, founding president of the Israeli branch of TiE, said that the program would allow Israeli companies to learn "first-hand" how to operate in the Indian market.
"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," Bernstein-Reich said.
Start-Up Nation Central CEO Avi Hasson said his organization was "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," Hasson said.
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