Amnon Shashua sets up NIS 100 million fund to aid small businesses

MobileEye co-founder and CEO Prof. Amnon Shashua and Anat Shashua, have launched a new foundation that aims to grant NIS 100 million in aid to small businesses and new entrepreneurs who have suffered from the outbreak of the Coronavirus (Covid-19) pandemic. As part of the WE-19 fund, some NIS 50,000 will be given to 2,000 businesses who were registered between 2019-2020. The aid will be dished out in three stages.

Shashua’s daughter, Inbar Shashua Bar-Nir and Adi Atun will manage the foundation, which is part of the “House for Social Solidarity” project started by the Shashua family. Its goal is to protect the spirit of Israeli entrepreneurship, give hope to small businesses that have emerged amid the Covid-19 outbreak, and give them another chance to expand their business, without financial strain.

Small businesses and licensed entrepreneurs who opened for business between 2019 and September 2020, generate a total revenue below NIS five million, and employ up to 20 people may apply. Applicants can send their admissions via the fund’s website by providing details about their business, a personal story, and detailing how the foundation can assist them, whether by setting up an online website, offering strategic consulting, purchasing equipment, helping recruit employees, or through other methods. Some 2,000 businesses will be chosen among the various applicants, and the winners will receive financial aid in three separate installments.