Business / Industry Sectors
Innovation to underline India-Israeli cooperation
13/12/2014
Innovation and venture funding was the buzz word from Israeli academicians and businessmen at the recent event organized by CII.

Cultural differences, difficulties in navigating the system and the quality gap between India and Israel have hampered investment of Israeli companies in India.

 

These were some of the views expressed by Israeli academicians and businessmen at the India-Israel Colloquium organised by CII in Mumbai. Innovation and venture funding was the buzz word from Israeli academicians and businessmen who said innovations today are fast, messy, and global and crisis, courage, agility and communication are required for successful innovation.

 

Mr. B.V.R. Mohan Reddy, executive chairman, Cyient said India can borrow Israel’s education system and create an eco-system for education in India. 

 

“Our education system is a big question mark where you repeat what you learnt in class. Prime Minister Mr. Narendra Modi has said we should have the ability to question what’s going on and not just observe.” In this context Mr Reddy lauded the Kochi start-up village where they give innovative entrepreneu-rs space, money and th-en buy up the company.

 

Professor Yesha Sivan, executive director, The Coller Institute of Vent-ure, Tel Aviv Unive-rsity, said, “The four key factors that drive funding of innovation, are government authorities, institutional invest-ors, venture capitalists, and entrepreneurs, the last three are global in nature. Only government authorities remain local, and they thus have a major role to play in building up the right systems. Laissez faire is impossible.”

 

 

Source: Asian Age

 

 

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