Israel Innovation Authority and the ILAB Group, which includes the Technion-alumnus founded communications giant Mellanox, plan to invest $14.4 million to promote entrepreneurship in Haifa. The group also contains venture capital fund Jerusalem Venture Partners (JVP), and nonprofit organizations Mati Haifa and Israel Initiative 2020.
The initiative aims to support 150 startups in digital health, energy, environment, and smart mobility — all of which are areas of strength at the Technion.
“Haifa is not only the capital of the North but also the first city from which Israeli hi-tech emerged. We will bring Haifa to the forefront of the global hi-tech scene and position the city as one of Israel’s innovation capitals,” said JVP founder and chairman Dr. Erel Margalit.