Erel Margalit, founder and chairperson of venture capital fund Jeruslaem Venture Partners (JVP) has launched Margalit Startup City Galil, an international foodtech center in Kiryat Shmona in northern Israel. The center has the potential to become a substantial economic growth engine for the Galilee region and for Israel in general: according to Margalit it will generate tens of thousands of well-paying jobs, and will attract young people and families to the Galilee. Tens of millions of shekels have been invested in the venture, with the building itself costing NIS 15 million.
Margalit Startup City Galil joins a chain of innovation centers that Margalit has set up in Jerusalem, Beersheva, Haifa, Tel Aviv, and New York. He plans further such centers in Europe and in the UAE. "There are many places where we could have invested and with which we could have set out on this journey. We chose to do so here in the Galilee because two revolutions took place here: agricultural and technological," Margalit said at the opening ceremony. "The new center opens doors to the world. We are paving the way for local entrepreneurs to become international. "
The new foodtech center is intended to provide smart solutions to problems such as global warming, hunger, drought, and healthy nutrition, bringing the technological revolution to bear on agriculture. Along with the setting up of the center, special study tracks on entrepreneurship, foodtech and innovation will be introduced in Kiryat Shmona schools.
Published by Globes, Israel business news - en.globes.co.il - on September 5, 2021
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