UK Seeks Israeli Startups Offering Smart City Solutions

The UK Israel Tech Hub, a British Embassy initiative to promote tech partnerships between the two countries, announced it will soon begin accepting applications for Israeli startups offering futuristic solutions for cities and infrastructure to join its flagship program TeXchange 2018 – Smart Cities in November.

The program, run by the Hub since 2013, aims to “open up the UK market for Israeli Smart City-oriented solutions for energy, telecom, and transport,” according to a statement by the UK Israel Tech Hub.

The program will accept up to 15 Israeli startups working in the spheres of ride services, cybersecurity, fleet management, connected cars, and more.

“TeXchange is a unique opportunity for Israeli companies to meet key decision makers in the UK’s largest corporates, and to discuss how Israeli technology can shape the future of smart cities,” said UK Israel Tech Hub Director Ayelet Mavor.

“This is the 5th time we are bringing Israel’s brightest companies together with the UK’s biggest companies in our flagship program, TeXchange,” she said. Over 70 Israeli startups have participated in the TeXchange programs, which have resulted in over 20 signed UK-Israel business partnerships.

Israeli transport tech companies Valerann, Siklu, and Optibus already operate in the UK.

According to the UK Department for Business, Energy and Industrial Strategy, the United Kingdom is in the midst of a national effort to upgrade its urban services. The UK’s Industrial Strategy initiative wants to put the UK at the forefront of the industries of the future, ensuring that the UK takes advantage of major global changes.

A June report by the UK Israel Tech Hub said that technology partnerships between the UK and Israel have led to 175 tech partnerships in deals worth £85 million ($113 million). It said these partnerships could potentially boost the UK economy by as much as £800 million ($1.1 billion).