Adani Enterprises Ltd (AEL), the business incubation arm of the Adani Group, on Thursday, said it has signed an MoU with Israel Innovation Authority (IIA), the premier public-funded agency overseeing Israel's innovation policy, for cooperation in technological innovation.
This cooperation will deepen the existing partnerships that Adani has already established over the past six years in Israel.
The MoU will lead to the creation of a cutting-edge innovation platform that will allow Adani businesses to access tech solutions provided by Israeli start-ups whereby selected innovation projects will be supported by the partnership. The collaboration will span climate change, cyber, AI, IoT, 5G, agriculture, all of which are core businesses for Adani.
"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," Karan Adani, CEO and Whole-time Director, Adani Ports and Special Economic Zone Ltd, said in a statement.
"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 digitization of several other organisations," Adani added.
Reacting to the deal, Dror Bin, CEO, Israel Innovation Authority, said, "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 startup looking to tap into the world's fastest-growing economy - India. 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," Dror Bin was quoted in the statement.
"As we celebrate this year the 30thanniversary 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," he added.
Adani Group's broader strategy is to digitally integrate its current and future businesses by linking its data centres through a network of submarine and terrestrial cables, industrial level 5G connectivity, building the largest industrial operations cloud in the world, developing the super app to offer a suite of services across its consumer base of 400 million, and establishing a world-class AI centre of excellence. This tie-up between Adani Enterprises and IIA is expected to further each other's capabilities, technology leadership, resources and worldwide presence, Adani Group said in a statement.
Under the provisions of Israeli industrial laws and policies that encourage research, development and technological innovation, the Adani Group will screen and select Israeli start-ups and other innovation companies developing new and exciting solutions in the tech space. Approved projects will then be assisted by the Adani Group and supported by the Israel Innovation Authority.
( With inputs from ANI )
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