India, Israel to launch $40 million Joint Innovation Fund tomorrow

The USD 40 million joint India Israel Innovation Fund that was announced last year during Prime Minister Modi’s Israel visit will see its formal launch tomorrow. So how exactly would the fund work? The selection committee that has been appointed along with the auditors from both countries will evaluate proposals from startups, from both India and Israel. In fact startups in both countries can apply to receive funds from this body tomorrow onwards. CNBC-TV18’s Syna Dehnugara caught up with Ami Appelbaum, Chairperson of Israel Innovation Authority, where he spoke about the innovation fund.