Tech Mahindra launches startup programme in Israel to drive global innovationLibza Mannan
Tech Mahindra's Nxt programme aims to engage with 20 Israeli startups over the next one year to promote innovation in sectors like cyber security, mobility, AI, fintech and data analytics.
Indian IT giant Tech Mahindra launched Tech Mahindra Nxt at the India-Israel Business Innovation Forum in New Delhi, on the sidelines of the Israeli Prime Minister Benjamin Netanyahu’s visit to India.
Tel Aviv, Israel’s financial and technological hub will be the nerve centre for the ‘Tech Mahindra NxT’ programme. Set to roll out in February 2018, the programme will focus on creating collaborative solutions across cyber security, mobility, artificial intelligence, fintech, and data analytics. It will provide mentoring and help accelerate growth of startups by availing ready infrastructure and insights about the market.
CP Gurnani, Chief Executive Officer and Managing Director, Tech Mahindra, said, "Tech Mahindra NxT is all about accelerating growth strategy with startup collaboration, thereby supercharging innovation and cultural transformation. The programme will be a flagship one for us globally and we are confident of great results."
Through the Tech Mahindra NxT programme, customers will be connected to relevant technology innovators to help meet digital transformation objectives. In turn, startup partners will get access to growth opportunities via Tech Mahindra’s global client base. Tech Mahindra has set up three centres of excellence on cybersecurity, AI and supply chain IoT.
Besides this announcement, the IT major also signed an MoU with Israeli firm ContextSpace Solutions to develop the world’s first global software privacy ecosystem, MyData Shield. The innovative product is aimed at providing a comprehensive approach to data protection, delivering privacy by design and default. The cloud-based “software privacy ecosystem” enables corporate software developers and startups to meet tough, global privacy, and data protection regulations.
Rajiv Singh, Sr. VP and Global Head, Enterprise Security & Risk Management, Tech Mahindra, said, “Our answer for the core technology challenge of privacy protection is to launch a globally-available, cloud-based service that will seamlessly and perpetually protect personal data privacy for any application, across applications. New high-end skills would be created to address this global demand and our engineers will take on this challenge to protect the businesses of our customers.”
By 2020, over one-third of all data will live in or pass through the cloud, with data production in 2020 being estimated at 44 times greater than it was in 2009.
“Creating a standardised, privacy-protected ecosystem for software developers and startups will accelerate digital transformation, where privacy compliance is a critical requirement,” stated Shmuel Levine, CEO for ContextSpace Solutions.
Based in Tel Aviv, Israel, ContextSpace Solutions is on a mission to create state-of-the-art operational solutions for privacy in an increasingly demanding and legally-regulated digital world. ContextSpace has developed technologies to provide comprehensive protection for the massive amounts of personal and sensitive data that is collected and processed every day, in health care, financial services, retail, government, and IoT.