Collaboration to strengthen technology startup
ecosystem in India and Israel
In a first-of-its-kind collaboration, Accenture (NYSE: ACN), the
Consulate General of Israel to South India, and the National
Association of Software and Services Companies (NASSCOM) have
jointly launched ‘scalerator,’ an exclusive program that aims to
enhance the collaboration between Israeli and Indian startups to
create innovative solutions for global markets.
With support from Accenture Ventures’ Open Innovation
initiative, scalerator will identify growth-stage Israeli startups
with deep expertise in emerging technologies – particularly
cybersecurity, cloud computing, artificial intelligence,
automation, the Internet of Things, blockchain and extended reality
– and connect them with India’s startup community through NASSCOM’s
10,000 Startups initiative.
Commenting on the launch of scalerator, Rekha M. Menon, chairman
and senior managing director, Accenture India said, “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.”
Dana Kursh, Consul General of Israel to South India, said, “We
see the scalerator program as vital to further developing
India-Israel collaboration. The industry environment in Bengaluru –
the Silicon Valley of India – and in so many other places in India,
is the perfect match to the Israeli technology sector. Through this
collaboration with Accenture and NASSCOM, we can further connect
our two ecosystems and enable Indian and Israeli startups to
develop cutting-edge technological solutions that benefit all.”
Accenture Ventures will provide guidance to scalerator
participants, leveraging its open innovation expertise and global
reach to help startups build and bring to market innovative
solutions that help address business challenges of Accenture’s
Indian and global clients.
Avnish Sabharwal, managing director, Accenture Ventures India,
said, “Building a rich open innovation ecosystem is critical for
meeting the strategic business objectives of our Global 2000
clients and we are delighted to debut the scalerator as our latest
milestone. We are excited about the prospects that the scalerator
can create in India and Israel among startups, enterprises,
research and academic institutions and investors.”
The Consulate General of Israel to South India will work with
Accenture Ventures to oversee the process of selecting startups for
the program. The Consulate will also provide business development
support to the selected startups from Israel, and facilitate an
understanding of the available local funding channels.
Dr. Shai Moses, Consul for Economic and Trade Affairs, the
Consulate General of Israel to South India, added, “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.”
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 market access forums including
industry events and customer engagements.
KS Viswanathan, vice president, Industry Initiative, NASSCOM,
said, “Collaboration between the two countries, ranging from
socio-cultural exchanges to economic partnership, has nurtured
Indo-Israeli ties over several decades. India's large and growing
market, characterized by entrepreneurial zeal, is evenly matched by
Israel's technological prowess. By streamlining intellectual and
economic exchange, as well as forging new alliances that foster
innovation and entrepreneurship, the scalerator will deepen these
ties. NASSCOM’s start-up program reflects this vision to
consolidate and streamline efforts in building state-of-the-art
infrastructure, coupled with top industry level mentorship
programs, funding and industry partnerships, to amplify the
impact that emerging disruptive companies can indigenously create
for the entire global ecosystem.”
The launch of the scalerator program follows an extensive study
of Israel’s startup ecosystem undertaken by Accenture Ventures,
outlined in the report, Collaborative Innovation: The vehicle
driving Indo-Israel prosperity, published in collaboration with
NASSCOM. The report highlights the opportunities and imperatives
for the two countries to transcend from the orbit of cooperation to
collaboration. It also outlines “Vision 25/25”, which estimates
that a cumulative cross-border investment of USD $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 USD 25 billion from these products by 2025.
About Accenture
Accenture is a leading global professional services company,
providing a broad range of services and solutions in strategy,
consulting, digital, technology and operations. Combining unmatched
experience and specialized skills across more than 40 industries
and all business functions – underpinned by the world’s largest
delivery network – Accenture works at the intersection of business
and technology to help clients improve their performance and create
sustainable value for their stakeholders. With approximately
442,000 people serving clients in more than 120 countries,
Accenture drives innovation to improve the way the world works and
lives. Visit us at www.accenture.com.
About The Consulate General of Israel to South India
The Consulate of Israel to South India (located in Bengaluru)
mission is to promote the bilateral and economic relations, between
the state of Israel and India. The Consulate jurisdiction is over
the states of Karnataka, Tamil Nadu, Kerala and the union territory
of Puducherry. The Consulate is focusing on strengthening the
commercial, technological, academic and cultural partnership, by
focusing on the following areas: agriculture, urban & rural
development, water solutions, healthcare, education, homeland &
cyber security, space etc.
About NASSCOM
NASSCOM® is the premier trade body and the chamber of commerce
of the IT-BPM industries in India. NASSCOM is a global trade body
with more than 2100 members, which include both Indian and
multinational companies that have a presence in India. NASSCOM's
member and associate member companies are broadly in the business
of software development, software services, software products,
consulting services, BPO services, e-commerce & web services,
engineering services and animation and gaming. NASSCOM’s membership
base constitutes over 95% of the industry revenues in India and
employs over 3.5 million professionals.
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version on businesswire.com: https://www.businesswire.com/news/home/20180620006398/en/
AccentureKiran Balasubramanian, +91
9886771250kiran.bala@accenture.comorJanice Rao, +91 80
49406509Trade Assistant - Consulate General of Israel in
Bangaloretrade-assistant@Bangalore.mfa.gov.ilorKavita Doshi, +91
9891172623Communications Director at NASSCOMkavita@nasscom.in
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