Israel Active

“Frog” eats “Duck” Israel’s has acquired Israel’s for $230 million.

Ilya Sutskever, OpenAI co-founder and creator of ChatGPT, plans to establish a research and development center in Tel Aviv for his new startup Safe Superintelligence Inc. He believes that Israel has the talent necessary to responsibly control AI and transform the world.

The professional woodworker from Family Handyman magazine who reviewed the Folding Work Table from Israel’s Keter was most impressed. So were others.

Two Israeli startups won the 2024 Asper Prize - the Hebrew University’s “Rising Startup” Award and NIS 100,000 prize money. GynTools’ GYNI is an AI system to diagnose female infections. Hydro X converts hydrogen into a safe, non-toxic water-based liquid for inexpensive storage and transportation.   

Israel’s Greeneye Technology has opened a dealership in Nebraska – its first in the US. Greeneye’s precision spraying reduces chemical use in farming by an average of 88%. Local partner Boeck Seeds says that weed control is the biggest challenge that Nebraska farmers are facing.

Mercer’s annual Cost of Living City Ranking has dropped Tel Aviv from the 8th most expensive city for foreign employees to a mere 16th. Lower rental costs are the main reason, with Dubai (15) and London (8) overtaking it. The 226 cities listed are headed by Hong Kong, Singapore, and Zurich.

Israel’s Innovation Authority (IIA) has selected eight proposals (from 40 bids) for organizations to manage schemes whereby members can invest in early-stage startups seeking funding. Each club will receive NIS 900,000 per year for a 3-year period. Originally only 3 clubs were planned (see ).

Social lending enterprise Ogen (see previously) has partnered with Israeli charity Leket to create the Farmers’ Immediate Relief Track. It provides 3% loans up to NIS 300,000 over 5 years. For farmers wishing to expand their business, the Long-Term Agricultural Relief Track offers up to NIS 1 million.

Israel’s Bountica (see previously is working with global bakery ingredients and chocolate company Puratos to use Bountica’s “ProServative” proteins in the food industry. These protein anti-microbials are far safer than current food preservatives.

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