Margalit Startup City innovation hub in Jerusalem and The Piemonte Agency of the Piemonte region in Italy will partner with the aim to “build new bridges between tech, business, and economic organizations,” the companies announced on Sunday.
The two locations are “natural partners”, said tech entrepreneur Erel Margalit, founder and executive chairman of Margalit Startup City and of the venture capital firm Jerusalem Venture Partners (JVP.)
Piemonte, in the northwestern Italian region, is home to the headquarters of many household names, including Stellantis (formerly Fiat), Ferrero, Olivetti, Huawei, Vishay, Collins Aerospace, L’Oreal, Microsoft, Oracle, and more.
“Our mission has always been to build bridges, between communities, between cities, between regions – and today is a milestone on this journey,” Margalit said.
“This is a region which is a natural partner for us in Israel, where we take technologies serving humanity and the planet into the next era. This is a great milestone for the cooperation between Israel and Italy.”
The partnership is with Piemonte Agency, an arm of local government that promotes local enterprise and attracts foreign investors to the area.
“Today’s agreement marks an important phase for our territory and our companies. Israel is a priority and a strategic country with which, since 2018, we have begun a series of exchanges and discussions that have led to the signing of this MoU that guarantees important business cooperation in Israel,” said Dario Peirone, President of Piemonte Agency.
The first Margalit Startup City was established in Jerusalem, followed by the Cyber Center in Beersheba, the International Cyber Center in New York, the FoodTech Center in the Galilee, the Fintech Center in Tel Aviv, and the Digital Health Center in Haifa.
“Our goal is to establish a constant presence in Israel to promote the collaboration on an economic level and to help discover a welcoming territory also in terms of investments, offering a high quality of life thanks to a fervent social and cultural environment.”