Italian startups complete the Eilat Acceleration Program

- Technology - Apr 20, 2020

Seven Italian startups complete the first Eilat Acceleration Program, amidst the current COVID-19 pandemic.

Initiated by the Italian embassy in Israel and the Intesa Sanpaolo, in cooperation with Eilat Tech Center (ETC), seven Italian tech startups complete the first Eilat Acceleration Program, a three month long acceleration program.

“It is clear that COVID-19 has caused many difficulties among industries, however it’s incapable of stopping innovation, creativity and demand for groundbreaking technologies,” comments Ariel Capital - owner of ETC.

In recent days seven Italian startups completed the first class of the accelerator, and are in the process of negotiating deals valued at US$10.8mn, with 80% made by 10 israeli institutions and companies. 

“The seven startups were chosen after a rigorous selection process from 50 companies that signed up. We selected 7 relatively mature companies that already had a proven technology, customers, revenues and had raised a total of tens of millions of shekels. The accelerator program upgraded their technological capabilities and instilled them with upscaling capabilities that led to fantastic results,” commented Or Haviv, CEO of ETC and the director of the global innovation platforms at Arieli Capital.

The program included 250 lectures, accompanied by 100 global mentors such as Samsung, Ernst & Young (EY), PwC and Israel Chemicals to name a few. As well as providing connections to 100 Israeli companies, including 30 investment groups.

“The entrepreneurs overcame the concern for their families in Italy and the isolated conditions at work and continued full speed ahead with their various activities. We, the leaders of the program, were surprised at the attentiveness and openness of the senior managers at some 100 Israeli companies and institutions to assess the projects and enter into negotiations during these trying times. In the months ahead we will continue our efforts to advance deals,” added Haviv.

The seven startups included:

Bionit 

Developing a groundbreaking healthcare technology for those in need of bionic limbs.

Materials

Developed a patented technology for the production of advanced materials for various industries, enabling increased efficiency, cheaper production and increased sustainability.

Dungle

Supplying digital platforms to improve user experiences and strengthen brands.

Issac

Developing a patented technology to strengthen buildings to prevent collapses during earthquakes.

Elysium

Supplying a digital system harnessing blockchain technology to manage data of health funds, hospitals and health systems.

Syndaig

Developed an advanced virtual network harnessing AI to detect cancer early.

Nanomnia

Developed a system for precision agriculture with nanotechnology and biotechnology. The solution protects agricultural crops without the use of spraying dangerous chemicals. 

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