Israel Aerospace Industries (IAI) has launched an innovation acceleration program called IAI Neusphere aimed at supporting Indian start-ups. This initiative is part of IAI's broader strategy to enhance technological collaboration between Israel and India, particularly in cutting-edge sectors.

The program will target ten critical technology sectors, will focus on ten areas. They are Big Data, Signal & Image Processing, Advanced Navigation, AI & Autonomy, XR-Maintenance & Training, Green Energy, Advanced Production, Quantum, Edge Computing, HMI & Wearable Tech. 

IAI's (Israel Aerospace Industries) Vice President Core Technologies Avital Schrift told PTI that going forward, the aim is to have a cohort of at least five start-ups every eight months and in the next two years, the total number of start-ups under the programme will be around 20.

Outside Israel, the group is focusing on innovation activities in the US and India.

"India is a technological giant... We believe very much in India's capabilities... We enjoy working with the Indian technological community," Schrift said.

Participating start-ups will receive substantial financial backing, with each start-up eligible for up to $300,000 in funding. Additionally, there is a cash prize of $15,000 for the start-ups selected to join the program.

The inaugural cohort will feature three start-ups, with plans to expand to 20 start-ups by 2025. The application process for the first cohort is set to open in late 2024.

IAI aims to leverage its expertise and resources to help Indian start-ups develop innovative technologies. The program will facilitate collaboration between start-ups and IAI's engineering teams, enhancing the development of new solutions.

Earlier this year, IAI inked a CSR agreement with the Indian Institute of Technology, Delhi (IIT-Delhi) for collaboration on applied research.

IAI has been working in India on various areas, including those related to radars, airborne warning and control system for the Indian Air Force and coastal defence.

Established in 1953, IAI is one of Israel's largest technology employers. It offers state-of-the-art technologies in space, air, land, naval, cyber & homeland security for defence and commercial markets.