The Citi Foundation has continued its support for the Israeli non-profit organization PresenTense, completing an investment of almost $500,000 into various programs. PresenTense helps encourage social entrepreneurship, new business, and technology among Israel’s minority sectors for the tech ecosystem. This brings Citi Foundation’s investment in PresenTense up to $2 million.
In the next year, more than 2,500 young adults will participate in PresenTense’s training for entrepreneurship and innovation. This also includes access to ecosystem events, PresenTense’s accelerator program, and courses for small business owners looking to expand their industry.
The grant will be used to help build local ecosystems in South Tel Aviv supporting the Arab population in Jaffa and Haifa, as well as empowering young people to integrate into Israel’s Startup Nation activities.
“The Citi Foundation’s continued support allows us to expand our activities to create social change through entrepreneurship and assist individuals and communities from Arab society to take part in exponential economic growth,” said PresenTense Co-CEO Ariella Rosen and Khouloud Ayuti in a joint statement. “Especially during these times of social issues and unemployment, we are witnessing entrepreneurship's power to reduce socio-economic disparities and promote inclusion alongside bridging the gaps between the diverse communities in Israel.”
"The Citi Foundation’s work is based on using entrepreneurship as a tool for strengthening the local economy, empowering the community and resolving issues in Israeli society,” added Citi Israel CCO Neil Corney. “While partnering with PresenTense, we have witnessed entrepreneurship's power to bridge gaps and encourage the inclusion of marginalized groups. We are delighted to continue this mutual path of promoting entrepreneurship in Arab society."
The Citi Foundation aims to promote economic progress and improve the lives of low-income communities around the world. It has committed $100 million over three years to help marginalized communities enter the workforce. The foundation is part of Citi, the global bank with more than 200 million customer accounts worldwide.