Indian-American techies want to build 'tech triangle' to strengthen ties between India, US, Israel

Top Indian-American entrepreneurs have initiated an organised effort to strengthen relationship between India, Israel and the US in the field of technology.

A group of Indian-Americans have announced launch of several initiatives to enhance the technology collaborations between the three countries.

For instance, Indian American 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.

Pennsylvania-based Dennis Mehta has announced the launch of a trilateral investment fund worth USD 50 million to bring innovative Israeli technologies to the Indian market.

Well known venture capitalist and philanthropist M R Rangaswami, who is founder of Indiaspora, is the brain behind such an initiative.

The idea of this tech triangle was presented to Prime Minister Narendra Modi when a delegation of Indiaspora flew to Israel last year to meet the prime minister and presented its concept to him to leverage and collectively multiply each country’s intrinsic strengths in the technological innovation and entrepreneurial arenas.

A Indiaspora delegation visited New Delhi when Prime Minister Benjamin Netanyahu travelled to India early this year. “Through our visit to New Delhi, Indiaspora continued our leading role in catalysing trilateral collaboration in technology, entrepreneurship and investment between USA, India and Israel,” Rangaswami told PTI.

Indiaspora member Vinny Gupta, who resides in Ohio, has signed three MoUs with Israel's largest water utility to bring water sanitation technologies to India. Another Indiaspora member Anand Deshpande, is CEO of Persistent Systems in India, which is serving customers in the US, by using data analytics and software skills of its engineers in Israel.

“Indiaspora put together an event and seminars with the most qualified folks from USA, Israel and India,” Gupta said, adding that it provided the perfect opportunity to attend events where the Israeli and Indian Prime Ministers were present.

US based Israel-India Technology (I-IT) Group has announced its launch in India which is aimed at focusing on bringing Israeli technology to Indian markets through US financial resources and expertise in doing deals in both countries.