On June 19, 2019 - The Israel Innovation Authority signed a collaboration agreement with STMicroelectronics (“ST”) to drive greater collaboration between Israeli technology companies and hardware startups ST works with through the ST-Up accelerator program launched in January 2018. The agreement is part of the Israel Innovation Authority’s Collaborative Framework with Multinational Corporations (MNC) program. The program offers a unique framework for technological cooperation between MNCs and innovative Israeli companies.
ST is a leading semiconductor company with $9.66B dollar revenue in 2018 and 43,000 employees globally, with a strong historical presence in France and Italy. The ST Israel office was opened in 2002 to focus on customer support and sales, and expanded in 2012 with the acquisition of Israeli micro-mirror technology company bTendo. Today the ST Israel office serves over 400 customers in the fields of smart mobility, industrial applications and the internet of things. ST is an enabler for high-visibility Israeli technology companies such as Intel-Mobileye, Valens or Adasky.
The Israel Innovation Authority, responsible for the country’s innovation policy, is an independent and impartial public entity that operates for the benefit of the Israeli innovation ecosystem and Israeli economy as a whole.
Aharon Aharon, CEO, Israel Innovation Authority said: This agreement is a testament to Israel’s role at the forefront of innovation, which is drawing international attention in many leading fields. There is no doubt that the agreement signed between ST corporation and the Israel Innovation Authority constitutes a vote of confidence in Israeli startup industry and innovations, further highlighting Israel's key position in the world of leading technological developments.."
The ST-Up accelerator program was designed to empower Israeli hardware or semiconductor startups to scale up faster – a key challenge in the world of hardware development. It targets already mature companies with a goal to build mutually beneficial, long-term partnerships. The 18-month program is built around three pillars: first, easing access to ST’s broad portfolio of products, technologies and development tools; second, providing startups with easy access to ST resources (Divisions, R&D, manufacturing, test etc.) to accelerate the industrialization of the startups’ products; and third, enabling access to the right strategic partners such as global manufacturers, partners, intellectual property owners etc. Finally, the ST-Up accelerator program also provides overall increased visibility to these startups throughout the entire supply chain over the course of the 18-month program.
According to the agreement, the Innovation Authority helps multinationals pinpoint Israeli technologies that address the corporation’s specific needs, by providing financial support for research and development. Among the corporations that have already signed such collaborative agreements with the Authority: Intel, Audi, Abbot, Unilever, Hewlett Packard, IBM, Panasonic, Philips, Nielsen, Fujitsu, Renault and many others.
ST-Up has been scouting startups for the past 18 months in part through technology competitions, including on agritech & foodtech, artificial intelligence and smart mobility. A number of projects – all confidential for now in this ramp-up phase – are already ongoing. You can already save the date for the ST Israel innovation night of October 29, 2019 where more information will be provided.
The Israel Innovation Authority, responsible for the country’s innovation policy, is an independent and impartial public entity that operates for the benefit of the Israeli innovation ecosystem and Israeli economy as a whole. Its role is to nurture and develop Israeli innovation resources, while creating and strengthening the infrastructure and framework needed to support the entire knowledge industry. The Israel Innovation Authority provides a variety of practical tools and funding platforms aimed at addressing the dynamic and changing needs of the local and international innovation ecosystems.
For more information, visit our site: www.innovationisrael.org.il/en
In the upper image – from left to right: Hélène Le Gal, Ambassador of France to Israel, Aharon Aharon – CEO, Israel Innovation Authority, Dr. Nili Mandelblit, ISERD Director of Nanotechnologies, Advanced materials, Advanced Manufacturing and Processing, Research Infrastructure, Transport and Space.
In the lower image - from left to right: Stephane M. Chouchan, STMicroelectronics Israel Country Director - Alessandro Messi, STMicroelectronics EMEA Group VP, together with Hélène Le Gal, Ambassador of France to Israel, and Gianluigi Benedetti, Ambassador of Italy to Israel.