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TEL AVIV, Israel — In a match-up of pioneering water technology companies, industry leaders from Israel and Massachusetts will team-up for the Water Export Technology (W.E.T.) Revolution Competition. The business contest is being run by a delegation of 48 executives from the Massachusetts water industry cluster, which will travel to Israel in December to develop partnerships that help satisfy the world’s thirst for water.
The competition’s goal is to identify successful Israeli water tech companies that are ready to enter the U.S. market. “The judges will be looking for companies with compelling technology, customer traction, a strong management team, a solid business plan and a focused go-to-market plan. To win this competition, they will need to demonstrate readiness to compete on the global stage. The winner will receive unprecedented access to the Massachusetts water cluster which could springboard entry into the U.S. market by connecting them with potential customers,” said Earl Jones, a partner at Liberation Capital, which has invested in an Israeli water technology company. Jones is also a co-chair of the delegation, known as the Massachusetts Water Innovation Mission to Israel.
The prize package for the winner of the Competition includes airfare and five days of hotel accommodations for the company’s CEO to visit Massachusetts in the spring of 2013. While in the Commonwealth, the CEO will be introduced to potential channel partners, customers, investors, government officials, and business partners who can help the company make Massachusetts its home-away-from-home as it enters the U.S. market and leverages the state’s water industry cluster for global market access.
“Israeli water technology is known throughout the world in fields such as water treatment, water reuse, desalination, and drip irrigation. We are so pleased to be working with our long-time friends in Massachusetts to recognize, commercialize, and develop export markets for Israeli R&D and proven technologies,” said Avi Hasson, Chief Scientist of Israel. “Our partnership with Massachusetts in fields like life sciences, information technology, and cleantech will now add water innovation to our deeply-networked economies.”
“Water innovation is both a strategic imperative for Israel due to our arid environment, and also a compelling opportunity to export our know-how to global markets for applications in drinking water, industry, wastewater treatment, reuse, and agriculture. Massachusetts is a natural partner for us because of our complementary strengths in research and academia, engineering, goods and services, and investment,” said Oded Distel, Head of Israel NewTech, the country’s national program aimed at promoting Israel’s water and sustainable energy sectors.
Applications to enter the Competition are available now at www.wet-revolution.com, and are due by Thursday November 29, 2012. Up to six companies will be chosen as finalists, each of whom will pitch its business plan and technology to the judges and an audience of senior water industry executives at an invitation-only event in Tel Aviv on Tuesday, December 18th. More details about the Competition are available on the website.
The Competition event on December 18th when the finalists will pitch their companies to the judges, will also feature guest speaker Dr. Orna Berry, Corporate Vice President and General Manager of the Israel Center of Excellence for EMC Corporation. Dr. Berry will speak about “Going Global with Israeli Technology,” and will draw on her accomplished background as Chief Scientist of the Israel Ministry of Industry & Trade, General Partner at Gemini Israel Funds, and Founding Partner at Ornet Data Communications. Dr. Berry also brings special insight for this audience, because EMC is a Massachusetts-based corporation, with a significant Israeli presence.
Judges for the competition will include venture capitalists and prominent water industry executives from both Massachusetts and Israel and will be announced later this month.
The “W.E.T. Revolution Competition” will be a highlight of the Massachusetts trade delegation’s trip to Israel, which runs from Dec. 16-19. The group of business, academic, and government executives is believed to be the largest delegation of its kind from New England to visit that nation. Other events for participants include private meetings with Israeli water industry entrepreneurs, major company executives, investors, and government officials, site visits, and “speed dating” for water research academics.
“Satisfying the ever-rising demand for clean and abundant water is both a worldwide opportunity and a social obligation. The Massachusetts water industry cluster is well-suited to bring water technology solutions to global markets. With a long history of water innovation, Israel is positioned at the top of the list for partnership opportunities,” explained Chris McIntire, Senior Vice President at Xylem Inc., and President of the company’s Analytics division in Beverly, Mass. “The Competition will bring some of Israel’s most promising innovators to the forefront.”
Sponsors of the Competition include: MassChallenge, Green Search Partner, Goodwin Procter. Partners include New England Israel Business Council, Mekorot WaTech, Massachusetts Office of International Trade & Investment, Israel-America Chamber of Commerce, and Cleantech Open Northeast. Companies and organizations interested in sponsoring or partnering may contact David Goodtree (email@example.com).