Adani Enterprises inks MoU with the Israel Innovation Authority
Adani Enterprises has signed a memorandum of understanding (MoU) with the Israel Innovation Authority (IIA) to jointly develop next-gen technologies.
Specifically, the MoU will see the creation of a 'cutting-edge' innovation platform that will allow Adani Group businesses to access tech solutions by Israeli start-ups. The collaboration will span climate change, cyber, AI, IoT, 5G and agriculture.
“The Haifa Port acquisition demonstrates the Adani Group’s commitment to Israel. The partnership with the Israel Innovation Authority is yet another large step in deepening our relations within Israel and provides us a platform to access the hundreds of cutting-edge technologies that Israel continues to produce," said Karan Adani, CEO and whole-time director of Adani Ports and Special Economic Zone Ltd.
"What we offer in return is the broadest sandbox of multiple B2B and B2C industries from Adani to multiple tech companies in Israel. It is a classic supply demand match between two nations that have always shared very strong bonds. The Adani-IIA collaboration will also help to open various channels for the latest technologies from Israel to enter India and accelerate the digitisation of several other organisations.”
Under the terms of Israeli industrial laws and policies, the Adani Group will screen and select Israeli start-ups and other innovation companies developing new solutions in the tech space.
The collaboration builds on existing partnerships that Adani has already established over the past six years in Israel. This partnership between Adani Enterprises and IIA is expected to further each other's capabilities, technology leadership, resources and global footprint.
“The Israel Innovation Authority is pleased to partner with the Adani Group in cementing Adani’s and India’s strategic collaboration with Israel, following the group’s historic acquisition of Haifa Port last month. The Adani Group, one of India’s largest conglomerates, is a partner of choice for any Israeli start-up looking to tap into the world’s fastest growing economy – India," added Dror Bin, CEO of Israel Innovation Authority.
"With this MoU, the Israel Innovation Authority will provide Israeli companies a unique opportunity to co-develop, pilot and scale-up innovative technologies in collaboration with Adani’s diverse businesses in the fields of renewable energy, AI, logistics and more. As we celebrate this year the 30th anniversary of the establishment of diplomatic ties between India and Israel, we are proud to further expand our collaboration with India in the field of innovation, and together with the Adani Group, lead the sustainable and digital transformation that will create ripple effects worldwide.”