Intel Corp. (Nasdaq: INTC) today announced the launch of an accelerator program for Israeli startups focusing on artificial intelligence (AI), autonomous systems, data-centric technologies, and other business models. Intel CEO was in Israel for the inauguration ceremony.
The program, called Ignite, will operate from Tel Aviv and, will leverage Intel's global access to the market and business and technological leadership in order to give early-stage startups a unique advantage in their quest to disrupt the future.
Following a rigorous selection process, the company will host 10-15 startups in the pre-seed to seed stage in a 20-week program. The startups will receive practical mentoring from Intel's experts and those of the industry in a range of areas of products, businesses, management, and technology. Intel is committed to accelerating the growth of the companies taking part in the program, and to expanding the circle of influence for their ideas.
Intel CEO Robert Swan said, "Intel has always worked in concert with open ecosystems to scale new technologies so they can be transformational for our customers, business and society. This process is fueled by the innovation and passion of the startup community. Israel has the deep skill base in AI, autonomous systems and the underlying technologies critical to these inflections that make it a natural choice to launch our Ignite program.”
The Ignite program will begin operating in Israel later this year, and will be expanded later to other countries. Diversity will be a guiding principle for Ignite, and the startups taking part in it will be selected from a variety of founders, owners, and representatives of Israel's diverse social mix. Intel does not intend to hold shares in the companies taking part in the program, or in the intellectual property that they develop.
Former Microsoft for Startups global manager Tzahi Weisfeld will be CEO of Ignite, and will report to Intel Israel CEO Yaniv Garty. Working together with Weisfeld will be Intel VP SoC architecture Avner Goren, who will be responsible for the connection between Ignite and the technical community within Intel.
Garty said, “As Israel’s largest high-tech company, we want to support the major technological changes emerging across our startup community. Ignite is an important step in this direction, focused on our efforts to transform the world through working on innovations in AI, autonomous, cyber and next-generation computing. With our advances in these areas, Intel is positioned to help companies charge forward. I’m confident that Intel’s unique expertise in hardware, software and manufacturing will help the startups grow and succeed. The fact that Intel is a large corporation with over 100,000 employees worldwide and very substantial Israeli presence (12,000 employees including subsidiary Mobileye) will greatly help the companies taking part in this program.”
Published by Globes, Israel business news - en.globes.co.il - on June 16, 2019
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