The Israel Innovation Authority (IIA), the branch of the government dedicated to promoting the high-tech sector, has announced the winners of a tender for a new scheme to help early-stage startups raise initial capital from private investors known as angels.
The IIA chose eight proposals out of 40 submissions from Israel and abroad to set up and manage the Angel Clubs, with its support. Each of the eight winners will receive an operational grant of NIS 900,000 per year for a three-year period.
The initiative is one of a series of financial steps taken by the IIA since the start of the war with Hamas in October in order to shore up the high-tech sector, a major player in the country’s economy.
The eight winners are:
1. TEClub VC LTD. – a new investor club for mega-angels from Israel and abroad interested in investing in breakthrough technologies at early stages
2. Investors Forum Ltd. – a new club formed with partners including Ben-Gurion University of the Negev and prominent figures in the industry, which places an emphasis on DeepTech
3. BABA METZIA GP LLP – a club with members from Israel and abroad with a long-term plan to solve the initial fundraising barrier for new startups
4. WINGS IL LTD. – a new investment club established to position Israel as a leader in investments and development of advanced DeepTech technologies
5. ERETZ ANGELS LTD – a club founded to expand the influence of Israeli technological innovation on the national economy and society
6. IL ANGEL CLUB LTD – a club with a comprehensive strategy for attracting companies and investments, with a unique model to create an international ambassador network to attract additional investors
7. EIGHT TWO HUNDRED ANGELS. LTD – a club with a broad partnership, which will invest in various fields, focusing on industry 4.0, AgTech and FoodTech
8. Ziv Haft Consulting and Management Ltd. – a club with a network in Israel, the US, UAE, Bahrain, China, India and Vietnam to connect entrepreneurs with investors for fields such as ClimateTech, Agritech and FoodTech
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