"Indo-Israel Scalerator" — NASSCOM, Israeli Consulate & Accenture's Joint Initiative

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"Indo-Israel Scalerator" — NASSCOM, Israeli Consulate & Accenture's Joint Initiative

By Kevin Simon

Image Attribute: K.S. Viswanathan, VP, Industry Initiatives, NASSCOM; Dana Kursh Consul General of Israel to South India, & Rekha M. Menon, Chairman & SMD, Accenture India sign the formal agreement for the Indo-Israel Scalerator Program. / Source: Official Twitter Handle of  NASSCOM  Startups

Image Attribute: K.S. Viswanathan, VP, Industry Initiatives, NASSCOM; Dana Kursh Consul General of Israel to South India, & Rekha M. Menon, Chairman & SMD, Accenture India sign the formal agreement for the Indo-Israel Scalerator Program. / Source: Official Twitter Handle of  NASSCOM  Startups 

In a first-of-its-kind program that aims to enhance the collaboration between Israeli and Indian startups to create innovative solutions with sights at global markets, Accenture Ventures, the Consulate General of Israel to South India (Bengaluru), and the National Association of Software and Services Companies (NASSCOM) have jointly launched "Scalerator".

It will identify initial growth-stage Israeli startups with teams having deep expertise in emerging technologies – mainly focusing on Artificial Intelligence, Cloud Computing, Cybersecurity, Process Automation, Blockchain, the Internet of Things (IoT),  and extended reality — and connect them with India’s own startup community through NASSCOM’s 10,000 Startups initiativeThis venture will further be supported by  Accenture Ventures’ Open Innovation initiative.

Accenture Ventures will provide needed guidance to participating "Scalerator" firms, thus leveraging its expertise in open innovation and worldwide network to help startups build themselves internally and bring in market-driven innovative solutions that address business challenges of Accenture's current Indian and global clients.

“Collaboration is key to success in the digital economy. Enhancing the relationship between India and Israel is an opportunity to bring disruptive, advanced technology innovations to the world. The innovation ecosystems in both countries share common talent and technology traits and we are proud of our role in bringing them together," said Rekha M. Menon, chairman and senior managing director, Accenture India.

Startups in the "Scalerator" program will be hosted at the NASSCOM Startup Warehouse in Bengaluru, as part of NASSCOM’s 10,000 Startups initiative. NASSCOM will provide mentorship opportunities for participants and involve them in the domestic market access forums including countries flagship industry events and customer engagements. The Consulate will also provide business development support to the selected startups from Israel, and facilitate an understanding of the available local funding channels.

Commenting on the launch, Dr. Shai Moses, Consul for Economic and Trade Affairs, the Consulate General of Israel to South India said, "India and Israel share an appetite for new technology, and we’re glad to collaborate with Accenture and NASSCOM to support disruptive Israeli startups with knowledge sharing, access to India’s strong domestic market and the opportunity to collaborate with India’s technology industry."

The launch of this program follows an extensive study of Israel's own startup ecosystem currently undertaken by Accenture Ventures, outlined in the report, Collaborative Innovation: The vehicle driving Indo-Israel prosperity, published in collaboration with NASSCOM.

Collaborative Innovation: The vehicle driving Indo-Israel prosperity

The Report highlights the existing thriving industries that cater to largest companies in the world and how these complementary strengths, will allow both countries to have a mutually-valuable opportunity to innovate collaboratively.

It also outlines "Vision 25/25", which estimates that a cumulative cross-border investment of US$ $25 billion into Indian and Israeli start-ups by 2025 can create 25 world-class products across different sectors, unleashing a revenue potential of up-to US$ 25 billion from these products by 2025.

About the Author:

Kevin Simon (ORCID: 0000-0002-2962-8008) is a Marketing Professional at Cognitio Innovo, with a keen interest in technology-driven businesses. He is graduate in management studies (MBA) from the Institute of Management, Nirma University, Ahmedabad.