US tech giant Nvidia has teamed up with the Israel Innovation Authority and business development center MATI Haifa.
This cooperation was set up an innovation hub in Haifa to encourage artificial intelligence-based entrepreneurship in Israel’s north.
The goal of the new hub is to boost the development of innovation ecosystems outside of the thriving Tel Aviv area where entrepreneurs and multinationals tend to gravitate, said the Israel Innovation Authority’s chairman Appelbaum in a statement.
“Haifa has tremendous entrepreneurial potential and significant talent anchored there,” said Appelbaum. “It’s important to strive toward building an entrepreneurial ecosystem in the city, which will serve as a magnet for the entire northern region.
Also Road2 will sow the seeds for the creation of new high-tech companies based on the rich academic research. That is already taking place in the city and the human capital developed in these institutions.
This is a sure recipe for creating a successful and sustainable industry in Haifa and throughout the northern region.”
The initiative will get a NIS 50 million investment ($15 million) from its backers, half of which will come from a grant given by the Israel Innovation Authority over a four-year period.