Siemens AG Launches Tel Aviv Innovation Lab
February 6, 2018 | Siemens AG, the German-based multinational engineering and electronics conglomerate dealing with energy, transportation, and healthcare, has launched an innovation lab in Israel at SOSA co-working space in Tel Aviv under the name Siemens Dynamo, the company announced in a press release. “The new lab is no longer a hi-tech incubator, but a structured program designed to take innovation and accompany startups at various stages of development under one room, until the commercialization stage,” said Siemens Israel CEO Shmuel Feldel. Israeli startups in the program will be exposed to Siemens technologies. They will also have the chance to experiment in the production lines of large Israeli companies including Keter Plastic and Strauss. The lab will provide technical support, ongoing collaboration with Siemens experts in Israel and abroad, exposure to industrial solutions and challenges in the field, experience in existing manufacturing plants of well-known companies and more. Siemens is also connected with Israeli and international entrepreneurs, investors and more. The addition of these startups in the Siemens innovation lab could lead to their future acquisition by Siemens if their technologies match Siemens products and solutions. Israeli startups that are currently active in the lab include CoreTigo, a developer of wireless communication systems for control of industrial sensors, QualityLine, a technology for quality control of the production process, and Halo Digital, a digital platform for smart industry. Siemens has already invested about $992 million in 180 startups around the world. It operates Siemens Israel as a subsidiary of Siemens AG.