With a vibrant startup infrastructure and an acute shortage of water, Israel has always been a fertile source of innovative water technologies.
With the goal of supporting this development and extending its own technological edge,
in 2005 Mekorot formed the WaTech™ Entrepreneurship & Partnership Center. WaTech™ assists water-technology startups in several ways:
- Functioning as a beta-test site: Mekorot’s own operations represent a unique testing ground for Cleantech startups, both because of its advanced technological capabilities and its ability to offer Israel’s varied geography as a beta-simulator for many of the world’s climactic regions.
- Acting as design partner: Through its vast experience and up up-to-date knowledge of all fields of water management and technology, Mekorot’s staff assists entrepreneurs with early stage research, product development and product specifications.
- Provision of technological analysis and support: WaTech™ partners gain access to Mekorot’s professional staff and, when appropriate, to its laboratories.
- Entering into marketing joint ventures: WaTech™ sometimes enters into joint ventures with startups, helping them gain access to global markets and capital,
and to form strategic partnerships.
For its efforts in assisting water technology startups, Mekorot obtains the right to discounts on their technologies, products and systems, royalties, referral fees and/or options/warrants in the young companies.
With more mature water technology vendors, WaTech™ sometimes enters into commercial arrangements and facilitates joint projects with Mekorot. WaTech™ also collaborates with other water companies around the globe for the purpose of exchanging technological know-how and applying the results of joint research projects in areas of mutual interest.
Deal flow received from various Cleantech entrepreneurs is screened by professional teams in eight areas: water quality, desalination, environment, homeland security, wastewater treatment, operation and management, command and control and models/ software for operations, control and management.
These teams provide entrepreneurs with “go/no go” decisions, and invite approved startups to carry out beta-site testing at Mekorot facilities and/or to engage in joint
R&D activities.
As of June 2007, WaTech™ had evaluated over 250 projects in various stages of maturity,
35 of which received a “go” decision. Fifteen of these projects are currently involved in Alpha
or Beta testing.