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Israel's Technion, iCreate to jointly incubate start-ups

Vinay Umarji  |  Mumbai/ Ahmedabad 

Having signed a memorandum of understanding (MoU), Israeli university Technion and the International Centre for Entrepreneurship and Technology (iCreate) of India are now set to jointly incubate few start-ups from both the countries.

Talking about the collaboration, Harry Yuklea, Advisor to Israeli National Economic Council and faculty member at Technion said, "Technion and iCreate will act as the gatekeepers of entrepreneurial innovation in India and Israel. Technion is a major producer of entrepreneurs in Israel. In fact, 40 per cent of all Israeli start-ups are incubated by Technion. While we will bring in our technological know-how to Indian start-ups, iCreate will help us tap the vast Indian market for Israeli start-ups."

On his first visit to Gujarat for evaluating business ideas to find potential start-ups, Yuklea said, "We will share our years of experience of incubating start-ups as well as the world-class Israeli technology in fields like communication, chemicals, industrial applications and defense, among others. The tie-up with iCreate will result in a kind of exchange program for start-ups from both the countries."

Gujarat government's global incubation centre, iCreate, has Infosys founder Narayana Murthy as its chairman of advisory board.

On the other hand, armed with a strong community of incubators, private investors, venture capitalists, Angel groups and entrepreneurs, Technion's tech transfer arm, Technion Technology Transfer (T3), has filed 300 average annual patents and nurtured scores of innovative startups in sectors such as clean·tech, cell therapy, drug delivery, nanotechnology and others. including Intel, Google, Microsoft, IBM, Qualcomm, Broadcom, Yahoo and Hewlett·Packard have established their operations near or on Technion campus.

"As a world renowned research university, Technion - Israel Institute of Technology is recognised for applied research, technology transfer and commercialization. Technion is a major force behind Israel's emergence as the home of one of the greatest concentration of high·tech startup anywhere in the world. The MoU with Technion is aimed at encouraging co-operation, synergy and exchange between Indian and Israeli faculties in areas of entrepreneurship, innovation and technology," said Madhu Mehta, chief mentor and founding team member of iCreate.

Apart from incubating, iCreate and Technion will jointly conduct events, business plan competitions, industry visits, in both countries and identify and promote technology which can be adapted in the Indian industry.

Both parties will also look to co-work on projects whereby students would be able to visit each others campuses and explore the possibilities of engaging into businesses in each country as well as attend special courses on innovation and entrepreneurship in premier institutions of Israel and India.

Jointly, iCreate and Technion have agreed to jointly work in the areas of faculty exchange, education and training, industry interaction, co-working on projects, and joint programs in other countries.

First Published: Mon, October 15 2012. 00:13 IST