Intel to Open an Acceleration Program for Israeli Startups
17 June, 2019
“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,” said Intel CEO Bob Swan
Photo above (from Left): Tzahi Weisfeld, GM of Ignite; Avner Goren, Intel VP in the Architecture, Graphics and Software Group; Bob Swan, Intel CEO; and Yaniv Garty, GM of Intel Israel. (Credit: Ezra Levi)
Intel Corporation today announced a program to accelerate early-stage startup companies in Israel targeting key industry inflection points, including artificial intelligence (AI), autonomous systems and other data-centric technologies and business models. Based in Tel Aviv, the program called Ignite will leverage Intel’s global market access and technology to provide the startups with unique advantages.
Following a rigorous selection process, Intel will host 10-15 top pre-seed to seed startups through a 20-week program where they will receive hands-on mentorship from Intel and industry experts. “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,” said Intel CEO Bob Swan.
The Ignite program will begin operations this year, with plans to scale to additional countries over time. Intel said it has no plans to seek equity in or rights to intellectual property from these companies. Tzahi Weisfeld, former global head of Microsoft for Startups, will serve as general manager and managing director of Ignite, reporting to Yaniv Garty, general manager of Intel Israel. Weisfeld will be assisted by Avner Goren, Intel vice president in the Architecture, Graphics and Software Group, who will connect the Ignite program to the technical community inside Intel.
“Intel is positioned to help companies charge forward,” said Yaniv Garty. “I’m confident that Intel’s 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.”