Mexican industrial group Mexichem is establishing an innovation hub in Israel, building on this year’s acquisition of Israeli drip irrigation pioneer Netafim.
The company has a team scouting for technology and start-ups that fit Mexichem’s main businesses - building and infrastructure, agriculture and data communications and basic materials, Chief Executive Daniel Martinez-Valle said.
The hub will also help develop new business models for the company’s customers and examine investment opportunities for Mexichem’s new corporate venture capital fund.
“Israel will be a significant source of deals,” Martinez-Valle told Reuters on Wednesday during a trip to Israel.
