MassChallenge Israel Partners With India’s Nasscom Foundation To Fund 10 Indian Startups
January 17, 2018 | Israeli startup accelerator MassChallenge Israel signed an agreement this week with The National Association of Software and Services Companies (NASSCOM), an Indian non-profit organization and trade association, to fund 10 Indian startups, according to a report in Firstpost, an Indian news website. The agreement will see that each chosen startup will get $5000. Deshpande Foundation, a US organization founded in 1996 to accelerate the creation of sustainable and scalable enterprises, will also contribute to the fund, alongside Nasscom. The fund hopes to help the chosen Indian startups focus on their businesses and access MassChallenge resources. The selected Indian startups join other MassChallenge Israel finalists for a four-month Jerusalem accelerator program. A trilateral fund has also been established by the Israel-India Technology Group (I-ITG) to promote entrepreneurship between the US, India, and Israel. The Trilateral fund will invest in Israeli startups and bring those technologies to the Indian market, according to the report. The announcement of this agreement occurs just as Israeli Prime Minister Netanyahu is visiting India. During his trip, the Israel PM signed 9 trade deals alongside Indian Prime Minister Narendra Modi.