Israeli startup wins, then refuses $250,000 prize

Israeli startup GetGems declined the minimum $250,000 it won in the 43 North startup competition, as it required relocation to Buffalo and a 5% equity donation. GetGems, a member of Citi’s TLV Innovation Lab, has invented PayKey, enabling secure payments to be made within social networks’ chats, including Facebook’s Messenger, WhatsApp, SnapChat, Twitter etc.

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