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Adani Enterprises & Israel Innovation Authority sign MoU to develop cutting-edge tech solutions

Platform for Israeli start-ups to provide tech solutions for Adani businesses.

August 05, 2022 10:10 IST | India Infoline News Service
Adani Enterprises Ltd (AEL), the business incubation subsidiary of the Adani Group, has inked an MoU with the Israel Innovation Authority (IIA), the premier public-funded agency overseeing Israel's innovation policy, for cooperation in technological innovation between Adani Group and Israeli companies.
This cooperation will deepen the existing partnerships that Adani has already established over the past six years in Israel, the company reported.
Accordingly, the MoU will lead to the creation of a cutting-edge innovation platform that will allow Adani businesses to access tech solutions provided by Israeli start-ups whereby selected innovation projects will be supported by the partnership. The collaboration will span climate change, cyber, Al, 5G, agriculture, all of which are core businesses for Adani.
Karan Adani, CEO and Whole-time Director, Adani Ports and Special Economic Zone Ltd said, "The Haifa Port acquisition demonstrates the Adani Group's dedication to Israel. The partnership with the Israel Innovation Authority is yet another big step in deepening our relations within Israel and provides us a platform to access the hundreds of cutting-edge technologies that Israel continues to produce. 
The Adani-llA collaboration will also help to open various platforms for the latest technologies from Israel to enter India and accelerate digitization of other organizations."
Dror Bin, CEO, Israel Innovation Authority said, "With this MoU, the Israel Innovation Authority will provide Israeli entities an opportunity to co-develop, pilot and scale-up innovative technologies in partnership with Adani's diverse businesses in the fields of renewable energy, Al, logistics and many more."

At around 10:10 AM, Adani Enterprises was trading at Rs2,698.80 per share down by Rs24.4 or 0.9% from its previous closing of Rs2,723.20 per share on the BSE.

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