Adani Enterprises Ltd (AEL), the business incubation arm of the Adani Group, has signed an MoU with the Israel Innovation Authority (IIA), the premier public-funded agency overseeing Israel's innovation policy, for cooperation in technological innovation between Israeli entities and the Adani Group.

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 company said in a regulatory filing on Thursday (4 August).

The collaboration will span climate change, cyber, Al, loT, 5G, agriculture, all of which are core businesses for Adani Group, it added.

Karan Adani, CEO, Adani Ports and Special Economic Zone Ltd said, "The Haifa Port acquisition demonstrates the Adani Group's commitment to Israel. The partnership with the Israel Innovation Authority is yet another large 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. What we offer in return is the broadest sandbox of multiple B2B and B2C industries from Adani to multiple tech companies in Israel. It is a classic supply demand match between two nations that have always shared very strong bonds".

"The Adani-llA collaboration will also help to open various channels for the latest technologies from Israel to enter India and accelerate the digitization of several other organizations," Karan Adani added.

Dror Bin, CEO, Israel Innovation Authority said, "The Adani Group, one of India's largest conglomerates, is a partner of choice for any Israeli startup looking to tap into the world's fastest growing economy - India. With this MoU, the Israel Innovation Authority will provide Israeli companies a unique opportunity to co- develop, pilot and scale-up innovative technologies in collaboration with Adani's diverse businesses in the fields of renewable energy, Al, logistics and more".

The Adani Group's broader strategy is to digitally integrate its current and future businesses by linking its data centres through a network of submarine and terrestrial cables, industrial level 5G connectivity, building the largest industrial operations cloud in the world, developing the super app to offer a suite of services across its consumer base of 400 million, and establishing a world-class Al centre of excellence, the company said.

This tie-up between Adani Enterprises and IIA is expected to further each other's capabilities, technology leadership, resources and worldwide presence.

Under the provisions of Israeli industrial laws and policies that encourage research, development and technological innovation, the Adani Group will screen and select Israeli start-ups and other innovation companies developing new and exciting solutions in the tech space, the company said.

Approved projects will then be assisted by the Adani Group and supported by the Israel Innovation Authority, it added.