Business Guide | Israel-India 2022

High Ranking in Global Competitiveness A strong support system in funding helps projects to the next level. Israel is known to have the largest percentage of GDP allocated to R&D and is ranked fifth in R&D, education in technology, registration of patents and other technological innovations.  Technological progresswas kicked off with the Technology Incubator Program in the 1990 s, fostered by investment laws that opened the doors to investments from abroad while allowing foreign companies to open shop. A reduction in corporate taxes and grants for R&D Centers and large tech companies helped.  Israel ranks 20 th in the global competitive report of the World Economic Forum motivating the who's who of technology to operate here, helped by cutting-edge technologies in communications, software and life sciences. A nation that was created some seven decades ago has come of age and has found its place in the sun. Israel and India, two close friends and ancient civilisations, are celebrating 30 years of diplomatic relations. The two nations are continuing to form significant collaborations and partnerships in different fields, most significantly in innovation and technology, to solve a range of global issues. We are growing together and mergingour technological capabilities. Our governments continue to cooperate and support the vibrant start-up scene in both countries, and our industries and private sectors are sharing their experiences and working on the ground together. Israel has contributed state-of-the- art AI-based technologies andmedical equipment to hospitals across India. These technologies include advanced medical management systems andAI- based solutions that can helpmedical teams performvarious tasks remotely. Anumber of joint ventures have been formed. Cooperating in R&D In 2020 , the two countries joinedhands to bring together Israeli and Indian startups and entrepreneurs. This partnership accelerated innovation and technology cooperation between both sides. Many Israeli companies are providing cutting- edge technologies and innovative solutions to vast projects in different Indian cities. Similarly, Israel has been an ideal place for Indian companies and entrepreneurs that are seeking partnerships with Israeli start-ups or R&D centers. To further encourage industrial R&D projects, the governments of the two countries have created the India-Israel Industrial R&D and Technological Innovation Fund (I 4 F).  Doing Things ‘The Israeli Way’ Israel is known as the start-up nation for many reasons. The Israeli start- up ecosystem is a greenhouse of creativity and innovation that stands upon foundations of education, industry, private sector enterprise, governmental support, finance and R&D. Israel did not always have this ecosystem, and the start-up scene is still driven bywhat originally initiated it: the ‘Israeli way’. The Israeli way means ingenuity, creativity, ambition, eagerness, doing more, not being afraid of failure, being driven by necessity, looking forward to the future with optimism, faith and a will to learn and adapt. Israel is keen on collaboratingwith the developing Indian ecosystem, which has become a leader in the field. As I often say, we are two old nations in youngcountries, rich in history, culture and diversity, creatively overcoming challenges and eager to meet the future. Themorebridgeswecancreate between India and Israel and their ecosystems, the more we will enrich each other to benefit not only one another, but the entire world as well. Courtesy of the Embassy of Israel in Delhi Naor Gilon 27 INNOVATING TOGETHER FOR MUTUAL GROWTH Naor Gilon, Israel’s Ambassador to India, discusses how the strategic partnership with India has benefitted both countries 2022 < Business Guide < Israel-India