Former CNN host Larry King and the Technion Israel Institute of Technology are establishing the Israel Silicon Valley Chambers of Commerce to foster Israeli high tech, by strengthening ties between the two locations and to channel budgets from multinationals for the opening of R&D centers in Israel.
King and Technion president Prof. Peretz Lavie will serve as the presidents of the Israel Silicon Valley Chambers of Commerce. Its chairman will be Niv Jacobi, who manages much of King's businesses. King will be involved in financing the project through a NIS 2 million investment via a holding company, and in opening doors in Silicon Valley.
The new chambers of commerce will be launched on February 26 in Tel Aviv, followed by a launch at Stanford University in Palo Alto.
"Israeli is the world's number 2 in high tech, especially for R&D, just behind Silicon Valley," said Jacobi. "The important linkup of the two has never had a serious organization, and I assume that this is an extraordinary opportunity to lead a far-reaching and long-term effort that will greatly help in bringing foreign capital to Israel, foster and direct start-ups, and strengthen the overall ties with Silicon Valley."
King's project will try to help start-ups from the concept stage through funding and the opening of suitable doors for sales.
The Technion, which together with Cornell University won the tender to set up the Tech Campus in New York City's Applied Sciences NYC initiative on Roosevelt Island in 2011, will utilize Larry King's holding company and his access to help Israeli start-ups. The Technion said that Prof. Lavie accepted King's request to help tighten ties between companies in Israel and Silicon Valley.
Published by Globes [online], Israel business news - www.globes-online.com - on January 21, 2014
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