US vehicle trading and services giant Cox Automotive is launching Israeli auto-tech operations. The Atlanta-based company announced that it will expand its collaboration with Israeli startups and entrepreneurs, and in the first stage it has formed a partnership with DRIVE TLV, a Tel Aviv-based smart mobility innovation center.
The DRIVE TLV hub was founded in 2017 by Mayer Cars and Trucks and Dr. Tal Cohen, a serial entrepreneur investor and a long-time faculty member at Georgia Tech. DRIVE's other partners include Hertz Rent a Car International, Israeli telematics company Ituran, NEC, Aptiv, Honda, and Volvo Group. The partnership's main goal is to facilitate collaboration between Cox Automotive and Israeli transportation innovators.
DRIVE TLV is focused on supporting mobility startups and entrepreneurs of all stages, with its accelerator, prototyping lab and shared workspace that encourages networking and collaboration. Israel is home to more than 8,000 startups, and over 600 are focused on mobility and transportation-related solutions.
As a DRIVE partner, Cox Automotive will actively engage with startups by providing expertise, and rapid prototyping opportunities that may evolve into additional business relationships. These activities will enable startups to receive accelerated validation of their technology and business model and, in turn, allow Cox Automotive to gain cutting edge competitive advantage.
"Israel has become one of the global hubs for smart mobility innovation," said David Liniado, vice president of new growth and development, Cox Automotive Mobility. "We are excited to partner with DRIVE and support the innovative startups driving the future of mobility out of Israel."
Interested in startups pursuing mobility intelligence technologies, apps, and software, Cox Automotive will welcome networking opportunities with potential startups that are focused on transforming the mobility experience.
DRIVE TLV CEO Itay Erel said, "DRIVE was created from a significant need in the world of smart mobility entrepreneurs to hone real market needs through collaboration with market leaders, creation of initial stage prototypes, and the ability to back the collaboration with focused investments. Our partnership with Cox Automotive will help the most promising Israeli mobility startups to have quick market validation and access to one of the leading innovation company programs in the world."
Published by Globes, Israel business news - en.globes.co.il - on September 19, 2019
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