Gurugram (Haryana) [India], August 3 : The Circle: Founders Club (FC), a business accelerator backed by Hunch Ventures, announced a momentous collaboration with the Embassy of Israel in India to launch a program - “The Water Challenge” dedicated to empowering early-stage startups and fostering innovations that solve water-related problems in India.
This program was formally launched on Thursday by signing a Memorandum of Understanding (MoU) between the Ambassador of Israel in India, Naor Gilon and the founder of Hunch Ventures and The Circle, Karanpal Singh, solidifying the commitment to accelerate the growth of water tech startups in India, read a joint statement by The Circle and the Embassy of Israel in India.
This significant event marks a critical milestone in India-Israel bilateral relations, fostering cooperation in the crucial domain of water technology.
Naor Gilon, said “I am delighted to join hands with The Circle to sign this MOU, paving the way for the launch of 'The Water Challenge.' This 3-month long acceleration programme is a promising opportunity for start-ups in the field of water to innovate, collaborate, and create sustainable solutions. This programme will include experts from Israel & India, and harness the power of innovation from both nations and address crucial water challenges of our time. I believe this will drive positive change, fostering sustainable solutions and shaping a brighter, water-secure future. Together, Israel and India will lead the charge towards a brighter, water-secure future.”
Talking about the partnership, Karanpal Singh commented “Israel is the global leader in water technologies and given India’s large population we are thrilled to work together towards sustainability and water security.”
He added, “Through this collaboration, we will bring leading technologies to work with Indian companies to find domestic solutions.”
The Circle FC will work with the government of Israel to help startups get tech validation, commercialization, market access and fundraising.
The selected founders will be part of a comprehensive accelerator program that includes mentorship and networking opportunities from both Indian and Israeli specialists in water technology.
The program will be led by Nemesisa Ujjain (VP- Innovation) from the Circle’s side, and Doron Gidony, (Innovation Attache at Ministry of Foreign Affairs) from Israel’s side.
The Circle FC and Israel government will jointly scout and identify promising startups in the water tech domain and facilitate their growth, the joint statement said.
Earlier in May 2023, the Indian Institute of Technology (IIT) Madras entered into a partnership with Israel to establish the ‘India-Israel Center of Water Technology’ (CoWT).
This joint initiative aims to address the challenges in water resources management and water technologies in India.
The Letter of Intent (LoI) for the centre was signed by representatives from both countries, highlighting the significance of this collaboration in ensuring water security for India.
The India-Israel Center of Water Technology will focus on building human capacity to implement Israel’s advanced water technologies in the Indian context. By leveraging the expertise of Israel, known as a global champion in water management, the centre aims to develop tailor-made solutions for India’s water requirements.
This collaboration will be instrumental in achieving the objectives of India’s Ministry of Housing and Urban Affairs (MoHUA) ‘AMRUT’ Mission.
The Atal Mission for Rejuvenation and Urban Transformation (AMRUT), is a Government initiative to ensure an adequate system of sewage networks and water supply.
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