Adani group signs MoU for access to advanced technology from Israeli startups

• The moU will allow Adanic companies gain access to technical solutions from Israeli start-ups.
  
• The collaboration will span across climate change, cyber, AI, IoT, 5G, agriculture, all core activities for Adani.
  
• The Adani group Israel’s recently acquired Port of Haifa in July for $1.18 billion.

Adani Enterprises today signed an MoU with the Israel Innovation Authority (IIA), a government-funded agency that monitors innovation. The MoU gives Adani companies access to technical solutions from Israeli start-ups.

The collaboration will span across climate change, cyber, AI, IoT, 5G, agriculture – all core activities for Adani.

The MoU with Israel comes weeks after the Adani group acquired the Israeli port in Haifa for $1.18 billion in July. It aims to create better trade lines between India, Europe and the Middle East.

“The acquisition of Haifa Port demonstrates the Adani Group’s commitment to Israel. What Adani offers is the broadest sandbox of multiple B2B and B2C industries for multiple technology companies in Israel. It is a classic match between supply and demand between two countries that have always shared very strong ties,” said Karan AdaniCEO of Adani Ports and SEZ.

The Adani Group will screen and select Israeli start-ups to develop innovative solutions in the tech space.

“The Adani Group is a partner of choice for any Israeli startup looking to capitalize on the fastest growing economy in the world – India,” said Dror BinCEO, Israel Innovation Authority.

In an annual general meeting of Adani Enterprises held in July, Gautam Adanichairman, the Adani group claimed that the combined market capitalization of its companies exceeded $200 billion this year.

The group plans to digitally integrate its current and future operations by connecting its data centers via submarine and terrestrial cables alongside 5G industrial-level connectivity. It aims to build the largest cloud for industrial operations in the world for its 400 million strong consumer base.

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