Israel backs Modi’s Start-Up initiative

The latest initiative by the Modi government provides the needed conditions to evolve and develop, Carmon said.

Israel backs Modi’s Start-Up initiative

Startups can grow almost anywhere. But in order to really cultivate them, an ecosystem has to be in place, Israel’s ambassador to India, Daniel Carmon said applauding Narendra Modi government’s ‘Startup India, Standup India’ initiative.

“I express Israel’s enthusiasm in the face of this important endeavour,” Carmon said while addressing the Annual Meet of Entrepreneurs and Innovators by ASSOCHAM.

The latest initiative by the Modi government, Carmon said, provides the needed conditions to evolve and develop. “Israel applauds this initiative and would be happy to share its experience in developing suitable ecosystems, comprehensive mechanisms that will encourage unique and sustainable economic growth in India. Startups are an engine of growth. They have the potential to create jobs for a growing number of people and open the door for new segments of economic activity.”

On the Israeli Innovation ecosystem, Ambassador added, “In Israel there are over 5000 start-ups and still growing. Israel holds the highest number of startups per capita and has a strong viable venture capital industry. It enjoys as the highest rate of Governmental investment in R&D (almost 4% of GDP). It has developed a unique alliance between Society, Government, Industry, Academia, Technology Transfer Companies, Innovators, Inventors, Private Sector, Human Capital and Venture Capital. The start-up ecosystem is ready to take risks, to accept failure, to be curious, to argue, to challenge.”

Carmon said the ‘Start-Up India’ initiative provided yet another opportunity to expand cooperation between the two countries which have had full diplmotic relations for the last 24 years.

READ  Narendra Modi govt looks to bring efficiencies into power production, allows private plants to bid for coal with states

He applauded the growing e-commerce industry in India that has evolved very rapidly, creating giants like Snapdeal, Flipkart and others, making shopping for many of us easier and more accessible.

“India and Israel are partners. We share values, challenges and interests. India and Israel, two ancient people, proud of their respective traditions, but hungry, eager to grasp the future.  We should be doing it together. The desire to work together is huge and I believe after the launching of the PM initiative of ‘Start Up India, Stand Up India’ following the Minister’s visit, and awaiting many more, that we will see even more collaboration between Delhi and Jerusalem, Mumbai and Tel Aviv, Bangalore and Beer Sheva.”