Israel India | Business Guide | 2017

072 > ICT > Technology Collaboration Israel-India > Business Guide > 2017 Combining Forces for Impact: Can Indian-Israeli Technology Collaboration Change the World? Dr. Aliza Inbal I n 2015,Bill and Melinda Gates made the prediction that, over the next 15 years, the lives of people in emerging markets will improve faster than in any other period in history and that the lives of the poor will improve more than anyone else’s. We are about to see major leaps towards eradication of poverty, enhancement of food security, and provision of healthcare to all thanks to breakthrough technologies which are transforming these sectors in low andmiddle income countries (LMICs). India is one of the countries at the forefront of the technology for the global development revolution.A leader in frugal innovation,India is known for super low-cost,high-performance innovations ranging fromEEGs to smartphones and refrigerators.In addition,Indian companies lead the world in cutting-edge business models that transform even the world’s poorest into a viable market segment. Israel, for its part, has been developing transformative solutions for developed markets for decades. One of the most innovative countries in the world, Israeli technologies touch almost every aspect of the lives of people in developed countries, from USB keys, to instant messaging and Internet firewalls, to cutting-edge solutions for water, agriculture and healthcare. Israeli start-ups have had global impact well beyond the country’s relative size.However, to date, very few Israeli start-ups have addressed the needs of low or even lower-middle income people worldwide. This market myopia is not unique to Israel. Today, innovation is a global phenomenon. American lives are enhanced by innovations that have been developed in Tel Aviv,Seoul, Berlin and Copenhagen,largely for their benefit. However,the people of the developing world are, for the most part, left to innovate for themselves. This is not because there is no market opportunity.True,it is harder to build a successful company addressing the needs of the poor, but it can be done. However,“Western”innovators,including those from Israel,are hobbled by significant barriers: lack of understanding of market needs and of how to work in LMIC markets, difficulty knowing how to find partners and collaborators in-country,and insufficient access to capital willing to invest in LMIC technologies. As a