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    Nasscom to lead a delegation to Israel, understand startup ecosystem

    Synopsis

    Shivendra Singh, Vice President and Head - Global Trade Development at NASSCOM said that Israel is a key country in terms of its unparralled innovation culture.

    Shivendra Singh, Vice President and Head - Global Trade Development at NASSCOM told ET that Israel is a very key country in terms of its unparrallled innovation culture.
    NEW DELHI: With an aim to get a grip on the innovation ecosystem in Israel – a country which has one of the largest startups in the world – IT industry body Nasscom is taking a delegation of Indian companies and startups to 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, Vice President and Head - Global Trade Development at NASSCOM told ET that Israel is a very key country in terms of its unparralled innovation culture. "The country’s spent on R&D as a percentage of its GDP is the highest at 4.2 per cent compared to 2.4 per cent of Japan and 2.8 per cent 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.

    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 in terms of cyber security, tech transfer etc," he added. Singh said that Nasscom is also look at collaborative opportunities with small, innovative companies 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 US and Israel is now trying to emulate the success stories.
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    The Economic Times