Wednesday, July 05, 2017

Israel Aerospace’s accelerator seeks to support Indian start-ups

Mumbai: Israel Aerospace Industries (IAI), which is to supply systems for Barak 8 surface-to-air missiles to Bharat Electronics Ltd for installation on Indian warships, is look to engage with start-ups that work in the field of aviation and defence.

The decision has sparked interest among Indian conglomerates such as the Kalyani Group and Piramal Enterprises.

As Israel continues to produce an impressive number of highly successful tech start-ups — earning it the moniker ‘Start-up Nation’ — IAI is keen to build what is being referred to as the country’s first aviation accelerator.

The Bedek Aviation Group, IAI’s biggest division that conducts heavy aircraft maintenance and upgrades, and converts aircraft to various specified configurations such as aerial refuelling and cargo, will host the accelerator. The aim is to identify start-ups that have passed the seed stage, so that their products can be used by IAI, said officials.

The start-ups will utilise IAI’s infrastructural facilities as well as professional guidance from leading aviation specialists.

Israel’s aviation accelerator has sparked interest among Indian firms, with the $3-billion Kalyani Group looking to up the ante, given its association with IAI. In February, the group’s defence arm Kalyani Strategic Systems had inked an MoU with IAI to incorporate a joint venture company in India.
05/06/17 Amrita Nair-Ghaswalla/Business Line