Adani group signs MoU for access to cutting-edge tech of Israeli startups

• The MoU will allow Adani businesses to access tech solutions provided by Israeli start-ups.
  
• The collaboration will span across climate change, cyber, AI, IoT, 5G, agriculture, all of which are core businesses for Adani.
  
• The Adani group recently acquired Israel’s Haifa port in July for $1.18 billion.
  

Adani Enterprises today signed an MoU with the Israel Innovation Authority (IIA), a public funded agency overseeing innovation. The MoU will allow Adani businesses to access tech solutions provided by Israeli start-ups.

The collaboration will span across climate change, cyber, AI, IoT, 5G, agriculture – all of which are core businesses for Adani.

The MoU with Israel comes weeks after the Adani group acquired Israel’s Haifa port in July for $1.18 billion. It aims to establish better trade lines between India, Europe and the Middle East.

“The Haifa Port acquisition demonstrates the Adani Group’s commitment to Israel. 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 very strong bonds,” said Karan Adani, CEO of Adani Ports and SEZ.

The Adani Group will screen and select Israeli start-ups to develop innovative solutions in the tech space.

“The Adani Group is a partner of choice for any Israeli startup looking to tap into the world’s fastest growing economy – India,” said Dror Bin, CEO, Israel Innovation Authority.

In an annual general meeting of Adani Enterprises held in July, Gautam Adani, chairman, Adani group claimed that the combined market capitalization of his companies exceeded $200 billion this year.

The group intends to digitally integrate its current and future businesses by linking its data centers through submarine and terrestrial cables alongside industrial level 5G connectivity. It wants to build the largest industrial operations cloud in the world for its 400 million strong consumer base.

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