Adani Enterprises signed a memorandum of understanding (MoU) with the Israel Innovation Authority (IIA). IIA is the umbrella agency that looks after technological innovation in the region. The MoU will allow the Adani businesses to access tech-based solutions such as climate change, AI, IoT, 5G, and agriculture.
The memorandum is a successor of Adani Group’s acquisition of Israel’s Haifa port to establish better trade partnerships between India, Europe, and the Middle East. Karan Adani, CEO of Adani Ports, said, “What Adani offers is the broadest sandbox of multiple B2B and B2C industries to multiple tech companies in Israel. It is a classic supply-demand match between two nations that have always shared strong bonds.”
Adani group will be screening and short-listing Israeli startups that suit its requirements to develop innovative solutions in the tech space. The group plans to integrate its existing and future businesses via data centers through terrestrial and submarine cables with 5G connectivity.
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It plans to build the most significant and operational industrial network to open channels so that the latest technological research and tools to enter India and accelerate the digitization of several other businesses.
Dror Bin, CEO of IIA, said, “With this MoU, the IIA will provide Israeli companies a unique opportunity to co-develop, pilot, and scale-up innovative technologies in collaboration with Adani’s diverse businesses in the fields of renewable energy, AI, logistics, and more.”