In Israel, the $8 million fund will match grants from the Innovation Authority.
Search giant Google has announced the creation of a $4 million support fund for Israeli startups specializing in AI solutions and services. The fund complements the Israel Innovation Authority’s emergency fund, which provides emergency grants to companies with a short operating horizon (up to six months).
Around twenty startups needing immediate funding to continue their activity will receive grants. Google will also advise and support them individually and give them access to its experts in development, strategy, marketing and other areas.
The precise number of startups and the amount of grants will depend on the amount sought by the companies themselves. They will need to submit matching funding from the Innovation Authority.
Since the Hamas terrorist attack on October 7, Google has launched several initiatives. Among other things, Google CEO Sundar Pichai announced a donation of $3 million to the NATAL organization, which provides psychological support to people suffering from trauma from war and terrorist attacks, and $1 million to dollars in search ads for NGOs in Israel to help them reach people and provide information. Google employees in Israel and around the world have raised millions of shekels for emergency services Magen David Adom, United Hatzalah and the Eran mental health service.
The Israeli fund is part of a larger $8 million fund created in the aftermath of the war for Israel and the Palestinian Authority.
Published by Globes, Israel Business News – fr.globes.co.il – January 25, 2024.
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Google offices in Mountain View, California Photo: Shutterstock achinthamb
