Competition will select company with best export potential
In a match-up of pioneering water technology companies, industry leaders from Israel and Massachusetts will team-up for the Water Export Technology Revolution Competition. The business contest is being run by a delegation of 48 executives from the Massachusetts water industry cluster that 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 Massachusetts, 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.
“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 Nov. 29, 2012. Up to six companies will be chosen as finalists. Each finalist 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, Dec. 18.