Israel Active

Financial giant Citi has begun the 10th cohort of Citi Accelerator TLV, its program for Israeli startups in the fintech, cyber, and data space. There have been more than 100 participants of its accelerator since it was launched in 2013. Those startups have since raised more than $1.3 billion of funds.

Israel’s IDI Insurance has partnered Japan’s Mitsui Sumitomo Insurance (MSI) to establish an innovation hub in Israel. “The HUB”, soon be renamed “GDH TLV” will focus on finding and fostering startups that help the direct and digital insurance sector.

A group of 13 Israeli company CEOs have just completed a four-day trip to the UAE organized by Jerusalem Venture Partners. Israeli companies represented included Agrint (pest sensing), , and ,

The increased use of zoom during the Covid-19 pandemic is helping Israelis conduct business with India. Not only are travel costs saved, but Indian companies have adopted digital platforms and it is now quite easy to set up introductory meetings. India accounts for 3.5% of all Israeli trade.

The Israeli government is launching a stimulus program to increase employment in hi-tech and industrial sectors. The program’s initial budget stands at NIS 60 million with the goal of training 3,000 local job seekers. Grants up to NIS 45,000 will be available to eligible employees.

The Israel-Dubai Conference is set to take place in Dubai on Nov 24-26. The joint initiative by Bank Leumi, Reshet 13 and Calcalist aims to encourage business cooperation between the two countries in the fields of finance, technology, industry, agriculture, health, and tourism.

This week, Israeli wines from the Golan Heights Winery will be stocked in stores in the United Arab Emirates. They will be sold through African + Eastern - a major importer and distributor of wine and alcohol in the Emirates and the Persian Gulf, representing some of the leading brands in the world.

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Israeli social trading and marketplace platform eToro (reported previously) is hiring another 100 employees to join its 1,000 workers in 12 global offices. It has already recruited more than 300 employees since January 2020 - half of these are based in Israel.

Israel’s DouxMatok (reported previously) has partnered with Canada’s Rogers Sugar (parent of Lantic Inc). Rogers will create sugar cane-based sweeteners, using DouxMatok’s technology, that are 30 to 50 percent lower in sugar, for food manufacturers in North America.