TiE and Start-Up Nation Central sign historic Memorandum of Understanding (MOU).
Israeli not-for-profit Start-Up Nation Central signed a historic MOU with TiE (The IndUS Entrepreneurs), one of the world’s largest networks of entrepreneurs. The MOU aims to achieve full implementation of 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.
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.
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. 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
Awareness of Israel as a key innovation partner is growing all across Asia, and in India in particular. This MOU between Start-Up Nation Central and TiE is yet another concrete achievement further deepening the relationships that have already been formed with multiple entities in India.
Start-Up Nation Central‘s MOU with TiE targets technologies addressing sustainability challenges, positioning Israel and India as global leaders in the field of impact tech.
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.”
Adv. Anat Bernstein-Reich, the founding president of the 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.”
Start-Up Nation Central CEO Avi Hasson: “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.”