Israel Active

A new Venture Capital fund “1948 Ventures” has just been launched.  It will invest in early-stage Israeli-founded companies that develop technologies for civilian use in a war environment. Areas include supply chain, communications, medical devices, and tech to help track and trace missing persons.

Some 2,500 Israelis have applied to replace the thousands of foreign workers, Gaza Arabs, and drafted IDF reserves, who are unavailable to work in the agriculture industry. They are being recruited by Israeli NGO HaShomer HaChadash (see previously) which is protecting Israel from food shortages.

The US Department of Homeland Security (DHS) and and the Transportation Security Administration (TSA) is to evaluate the security technology from Israel’s SeeTrue (see previously) for passenger screening at government laboratories and US airports.

Israel’s REE Automotive has received US Environmental Protection Agency (EPA) certification for its P7 range of electric trucks. It will help REE’s goal to deliver its unique fully by-wire electric vehicles by the end of 2023.

More upbeat sentiments by OurCrowd CEO Jon Medved on the resilience of the Startup Nation in this interview on Sky News Australia.

The Peruvian Institute of Mining Engineers has given its Successful Innovation Award to Israel’s ASTERRA (see previously) for its EarthWorks for Mining system.

Canada’s Leaders Fund is donating $50+ million to Israeli aid organizations. Salesforce - $3m; Disney - $2m; Paramount - $1m; Insight Partners - $1m; General Catalyst - $0.25m; Cisco is paying NIS 9k to each Israeli employee and NIS 19k to IDF reservists. Oracle is matching global employees’ donations.

Israel has increased the budget of the Innovation Authority's Fast-Track program by a factor of four, from NIS 100 million to NIS 400 million. It will provide vital support to startups facing financial difficulties because of the ongoing hostilities.

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Positive messages from Jon Medved, CEO of Israel’s OurCrowd, and Economist Amir Kahanovich who predict Israel’s resilience will ensure that it will recover from adversity and grow even stronger. Medved also calls on everyone to combat misinformation, support Israel, and work for a better future.