Many Indian-American entrepreneurs have announced the launch of several initiatives to enhance the technology collaborations and strengthen the relationship between India, Israel and the U.S., according to PTI.
According to PTI, Indian American Dennis Mehta of Pennsylvania has announced the launch of a $50 million trilateral investment fund to bring innovative Israeli technologies to the Indian market, while venture capitalist and entrepreneur Desh Deshpande is working with the MassChallenge incubator to fund several Indian startups to receive in-house guidance from MassChallenge mentors in Israel.
The idea of this tech triangle was brought up by venture capitalist, philanthropist and founder of Indiaspora, M.R. Rangaswami, according to PTI.
According to PTI, the concept was presented to both Prime Ministers Narendra Modi as well as Benjamin Netanyahu when the Indiaspora delegation visited New Delhi earlier this year while Netanyahu was there.
“Through our visit to New Delhi, Indiaspora continued our leading role in catalyzing trilateral collaboration in technology, entrepreneurship and investment between USA, India and Israel,” Rangaswami told PTI.
Vinny Gupta, an Indiaspora member from Ohio, also signed three MoUs with Israel’s largest water utility to bring water sanitation technologies to India, according to PTI.
“Indiaspora put together an event and seminars with the most qualified folks from USA, Israel and India,” Gupta told PTI, adding that it provided the perfect opportunity to attend events where the Israeli and Indian Prime Ministers were present.
According to PTI, the U.S. based Israel-India Technology (I-IT) Group has also announced its launch in India which is aimed at focusing on bringing Israeli technology to Indian markets through U.S. financial resources and expertise in doing deals in both countries.