Intel Corporation recently announced a program to advance open innovation and accelerate early-stage startup companies in Israel.
Based in Tel Aviv, the program called Ignite will target key industry inflection points, including artificial intelligence (AI), autonomous systems and other data-centric technologies and business models.
The program will leverage Intel’s global market access and business and technology leadership to provide early-stage startups with unique advantages on their paths to disrupt the future.
Following a rigorous selection process, Intel will host 10 to 15 top pre-seed to seed startups through a 20-week program where they will receive hands-on mentorship from Intel and industry experts in a variety of product, business, management and technical areas. Intel is committed to accelerate their growth and scale their ideas for greater impact.
The Ignite program will begin operations in Israel this year, with plans to scale to additional countries over time. Diversity will be an important guiding principle of Ignite, with startups established, owned and run by different representatives of Israel’s diversified social mix. Intel has no plans to seek equity in or rights to intellectual property from these companies.
Source: Press Release