Tel Aviv's Capsula.Studio partners Pinnacle Industries to establish startup accelerator in Pune

NEW DELHI: Coinciding with Indian Prime Minister Narendra Modi’s revolutionary Israeli visit, a lot of collaborations and knowledge-based exchanges between the two countries have taken place. Capsula.Studio at Tel Aviv University has signed a strategic partnership with Sudhir Mehta, CMD, Pinnacle Industries Ltd to establish a one-of-its-kind startup accelerator, Pinnacle Capsula.Studio in Pune.

Pinnacle is known as one of the largest commercial vehicles seating and interiors company in India. Sudhir Mehta, Chairman and Managing Director, Pinnacle Industries, is a serial entrepreneur and on the Board of many companies, including Force Motors. In 2016-17, he was the Chairman of the Confederation of Indian Industries, Western Region. He is also director of Rivulis Irrigation, which is one of world's leading drip irrigation companies headquartered in Israel. He is also involved in several Indo-Israel start-ups.

The announced partnership aims to accelerate innovative entrepreneurs to market through Capsula's proven Mentored Customer Validation program and knowledge center, which connect entrepreneurs with global value network players and the research community.

Pinnacle Capsula.Studio in Pune is conceived as a not-for-profit entity, which will allow novel ideas to rapidly gain market traction with through Mentored Customer Validation under the able guidance of mentors. The facility will be located at The BHAU Institute, which is a part of the College of Engineering, Pune and home of an innovation incubator. The Studio will also act as a bridge between Indian and Israeli entrepreneurs.

Speaking about this new initiative, Sudhir Mehta, CMD, Pinnacle Industries Ltd, highlighted, "Incubators and accelerators continue to play an important role in the growth of the Indian start-up ecosystem. Pinnacle Capsula will mentor and foster such talent and ideas focused on IP creation and provide them with the right guidance, opportunities and approach."

Pinnacle Industries will provide the initial funding and endeavor to develop sustainable partnerships with prospective investors and value network firms. The initial focus of Pinnacle Capsula.Studio, Pune is Smart Mobility, with additional domains to be added in the future, including agriculture and food, health and medicine, education and other sectors, which can bring in major economic and societal benefits to India and the world.

Ariel Sella, Managing Director of Capsula.Studio @TAU, remarked, "Pervasive data, computing and communication allow innovative entrepreneurs worldwide to deliver immense economic and societal gains. We are so excited to commence our first global partnership with Mr. Sudhir Mehta to combine Israel's technology and start-up strengths with the immense potential of Indian entrepreneurs in the Indian market and beyond."

Prof. Joseph Klafter, President of Tel Aviv University, welcomed this initiative as a 'fitting way to commemorate 25 years of diplomatic ties and the decade anniversary of the acclaimed India-Israel Forum, TAU created with CII and Ananata Aspen'. He said, "The focus of our bi-national Forum has been to move ties beyond defense and diamonds. Technology in general and mobility in particular seem very fitting. We thank Pinnacle for its endorsement of TAU and our capabilities. We look forward to a strong and successful partnership."

Pinnacle Capsula.Studio, Pune will commence its first studio term in 2018, offering residency to select Smart Mobility start-ups with technology and/or business model innovations, which are looking to make mobility at once more desirable, efficient and sustainable. With product-customer fit being the primary risk for today's start-ups, Pinnacle Capsula.Studio, Pune focuses on intensive Mentored Customer Validation. Practiced diligently, this approach allows start-ups to gain early traction with products that customers need and want at reduced capital and time to market.