Adani Enterprises Ltd has reportedly inked a pact with the Israel Innovation Authority for collaborations on technological innovation between the Israeli entities and Adani Group. For the record, Israel Innovation Authority (IIA) is a government-funded organization that oversees Israel’s innovation policy.
It is worth noting that this MoU (memorandum of understanding) will mark Adani Group’s another major collaboration with Israel following the acquisition of the latter’s second largest commercial port, Haifa Port.
According to sources, the MoU will result in the creation of an advanced innovative platform. This will grant Adani businesses access to tech solutions provided by the Israeli startups.
The collaboration will also span Adani’s basic business segments such as cyber, artificial intelligence (AI), internet of things (IoT), 5G, climate change and agriculture.
According to Karan Adani, CEO and whole-time director of Adani Ports and Special Economic Zone Ltd, the Adani-IIA collaboration will be helpful to open various channels for the latest Israeli technologies to accelerate the digitization of several organizations in India.
CEO of IIA, Dror Bin, claimed that Adani Group is a favored partner for any Israeli startup looking to enter India, which is the world’s fastest-growing economy.
Dror further stated that with this MoU, the IIA will provide Israeli companies with a unique opportunity for co-developing, piloting, and scaling-up technological innovations in collaboration with Adani’s diverse businesses in renewable energy, AI, logistics, and other areas.
Notably, through the Israeli industrial laws and policies, that promote research, development and technological innovations, Adani Group will screen and select Israeli start-ups and other companies coming up with ingenious solutions in the tech space.
It has also been reported that the approved projects will be assisted by the Adani Group and supported by the IIA.
For the unversed, Adani Enterprises Limited is the Adani Group’s flagship company. It has focused on developing emerging infrastructure businesses, contributing to nation-building, and divesting them into separate publicly traded entities over the years.