How do Israelis do it? Startups to find out on Nasscom trip
IT industry body is planning to take a delegation of Indian companies and startups to Israel in May to get an understanding of the innovation ecosystem of the country.
Scheduled to take place in the last week of May, the delegation will include members from Tech Mahindra, MindTree, ITC Infotech and Cyient among others.
Shivendra Singh, the vice president at Nasscom told ET that Israel is a key country when it comes to its unparalleled innovation culture. “The country's spent on R&D as a percentage of its GDP is the highest at 4.2%, as compared to 2.4% of Japan and 2.8% of the US,“ said Singh.He added that the linkage between technology generation and adoption is quite unique in the country and the government has a key role to play in it.
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On the cards is meeting with government officials, venture capitalists and startups in the country.“There are a number of innovative companies there and we have a lot to understand when it comes to topics like cyber security, technology transfer etc,“ he said.
Singh said that the IT industry bo dy is also looking at collaborative opportunities with small, innovative companies of Israel and possible partnerships that can scale up operations for companies on both sides.
Israel boasts of a strong startup ecosystem which is only preceded by the United States.
India, which has the third largest startups after the US and Israel is now trying to emulate their success stories.