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
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.
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.