Mexichem launches Israel tech hub, building on Netafim deal

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.

Read more at Reuters (Tova Cohen)

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