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Renault-Nissan, Merck & Co, to Open Startup Laboratories in Israel

Renault-Nissan, Merck & Co, to Open Startup Laboratories in Israel

The companies won a three-years contract to run technology laboratories partially funded by the Israeli government

Hagar Ravet | 18:30  09.08.2017
Automaker Renault-Nissan and pharmaceutical company Merck & Co. won a three-years contract to run startup laboratories partially funded by the Israeli government, the Israeli innovation authority said in a press release Tuesday.

 

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Around 1,400 startups are founded in Israel each year, said Aharon Aharon, chief executive officer of the Israeli innovation authority. In a former position, Mr. Aharon was the general manager of Apple’s activities in Israel. 

CEO of Renault-Nissan Carlos Ghosn CEO of Renault-Nissan Carlos Ghosn CEO of Renault-Nissan Carlos Ghosn

Renault-Nissan will open a startup laboratory focused on smart car and transportation technologies, to be located in the north of Tel-Aviv.

Merck’s electronics laboratory will be located in Yavne, around 30 km to the south of Tel-Aviv.

The two multinationals won a governmental contract awarding them with up to a third of the set up costs and half of the operational costs in funding, in maximum $1.5 million (5.5 million shekels).

Israeli-registered startups participating in the programs are eligible for a governmental funding of up to $280 thousand (1 million shekels). The funding is intended for the development of a product guided by the corporations running the laboratory.

Three more laboratories will be operated by Israel-based tender winners— valve manufacturer Ham-Let Group, real-estate developer Shikun & Binui, and flavor and fragrance company Frutarom.

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