Israeli company Binpress, a marketplace for commercial open-source projects, will take part in 500Startups accelerator program. The startup is the first Israeli company to be included in the program, and will join 27 more companies, 19 of which are not based in the US.
American accelerator program MassChallenge is setting up shop in Israel. The accelerator, which was founded in Boston in 2010, is a nonprofit organization supported by Kraft, Verizon, Fidelity Investments, Microsoft, 3M and private investors such as Red Sox owner John Henry. Three Israeli companies have participated in the program in the past: DriveWay, Joytunes and STU.
Israeli instructional video platform company PowToon has announced that it has raised $600,000 from the Startup Minds accelerator. The accelerator, founded this year, invests relatively low sums in startups, and offers them extended maneuverability, with little interference in the company’s activity.
Online search and advertising giant Google has opened a Startup Campus in Tel Aviv. The company describes the campus as a “one-floor event & community space and pre-accelerator program.” Google Campus TLV will cater to local early-stage startups and developers with tech talks, events and hackathons.
Israeli corporation ICL, a multinational fertilizer and specialty chemicals company, has announced that it has launched an Open Innovation program with a budget of several million dollars per year. The new program is part of ICL’s plan for accelerating its development of the sustainable new products and processes that will drive the Company’s future growth.
Five out of six startup companies who took part in Israeli accelerator program, IDC Elevator, have signed agreements to receive funding from Israeli and American Investors. The sixth company is also in advanced negotiations to secure funding. IDC Elevator, the first accelerator in Israel to offer initial funding for entrepreneurs, was set up by Uri Glazer and Tom Bronfeld in collaboration with the Interdisciplinary Center in Hertzlia (IDC). The accelerator’s first class launched in April 2012 and currently, applicants are being chosen for the second class.
Four Israeli UpWest Labs graduates have raised $3 million to date. UpWest, a Silicon Valley based accelerator, targeted for Israeli companies, aims to assist Israeli startups to develop their products and gain better access to their intended target audience.
Israeli investment firm Plus Ventures will announce that it is willing to offer $20,000 to each company accepted to Microsoft’s Israeli accelerator, Microsoft Azure. Plus Ventures will invest in the early-stage companies, and in return, get a discount in future financing rounds.