MassChallenge Israel And Nasscom Comes Together To Support Startups
Nasscom, the industry body, this week signed a deal with startup accelerator MassChallenge Israel, promising support for scholarship of $5,000 each for almost 10 startups of India.
Apart from this, a Trilateral Fund worth $50 Million has been generated by I-ITG (Israel-India Technology Group) to market trilateral business and entrepreneurship chances between India, the U.S., and Israel.
The collaboration and relationships between the 3 nations, tuning from socio-cultural to economic exchanges, have raised mutual connections over multiple decades, R Chandrasekhar, President of Nasscom, claimed to the media in an interview.
“By streamlining economic and intellectual exchange, as well as forming fresh alliances that promote innovation, collaboration, and entrepreneurship, we can make osmosis of innovations within this technical triangle starting the joint prospective of the 3 members,” he claimed.
Nasscom, with the help of the Deshpande Foundation, will back a scholarship worth $5,000 each for almost 10 startups of India to assist them authorize resources of MassChallenge and aim on developing their commerce.
Specific startups of India will join other MassChallenge Israel 2018’s finalists in Jerusalem for a 4 -month accelerator equity-free program.
The declaration matches with Benjamin Netanyahu, the Israeli Prime Minister’s, visit to India.
“With resources of MassChallenge Israel and role as a head in Startup Nation, startups of India will be allowed to take their commerce to the worldwide stage,” Managing Director of MassChallenge, Israel Ganot, claimed to the media in an interview.
The Trilateral Fund will spend in Israeli companies, operating in regions such as drones and clean water, and bring these techs to the market of India.
“India is a huge market with an elevated rate of growth, while Israel has the best tech in the globe. The US investors and companies have the money and are seeking at spending in elevated growth areas,” Dennis Mehta, Chairman and CEO of I-ITG, claimed.