Got a great startup idea but lack the funds to bring it from concept to completion? Start looking at startup innovation programs, startup accelerator programs and startup incubation programs. For a tech startup, these programs not only help find investors, but also represent an invaluable networking opportunity.
In addition to connecting you with other people from your industry, they can also provide your startup with product development, sales, and marketing support. The only problem is that there are so many different options, it can be difficult to choose. We can help — here are 9 of the best accelerator programs for startups in Israel.
ESIL
As its name suggests, the Environmental Sustainability Innovation Lab (ESIL) works with technology startups that focus on sustainable technology. Born out of a partnership between EDF Renewables, Bazan Group and JM, the partnership provides not only funding but also technology, laboratories and equipment, mentorship and consulting, and networking. Startups that successfully apply for the IAA Innovation Lab Track receive an initial investment of one million NIS with the potential for additional follow-up investments.
NTT Innovation Laboratory Israel
Created by the Nippon Telegraph and Telephone Company, NTT Innovation Laboratory Israel was created to help the Japanese corporation build and strengthen its relationship with Israel’s innovation ecosystem. The team at the Innovation Laboratory works closely with NTT Business Units across multiple industries, all with the goal of supporting the growth and development of cutting-edge technology startups.
FinSec Innovation Lab
Focused on innovation within the cybersecurity and financial services sector, FinSec Innovation Lab works closely with the Israel Innovation Authority, the Israel National Cybersecurity Directorate, and the Israel Ministry of Finance through its shareholders, Mastercard and Enel X. It provides not only mentoring and funding, but also office space, access to technology, and design partnerships.
Renault Open Innovation Lab Tel Aviv
The engineers and specialists at Renault’s Tel Aviv Innovation Lab have since June 2019 worked closely with Israeli startups to identify and innovative new technologies in cybersecurity, IoT and big data. The lab maintains an exclusive partnership with the Israel Innovation Authority for financing, and also works closely with Alliance Ventures, a venture capital fund maintained by Renault-Nissan-Mitsubishi.
CREATORS
Based in Tel Aviv, the CREATORS innovation lab fashions itself as a bridge between the startup and corporate world, offering a wide selection of different workshops and innovation programs for a range of different industries. It also helps solopreneurs, researchers, and startups alike find the funding, partnerships, and resources they need to thrive.
Samsung Mobile Advance
Samsung’s Israeli accelerator program aims to find startups whose technology it can integrate into its own mobile products, software, and services. Startups that wish to apply for the program must first create a pilot that showcases how their technology can help differentiate Samsung’s. Successful applicants will receive a $50,000 grant and six months of support from the company’s research and development department.
Although applications for SMA 2023 are currently closed, we’d recommend you keep an eye on the program and consider applying in 2024.
SigmaLabs
SigmaLabs is a startup accelerator founded on a simple mantra — For Founders, By Founders. To date, it’s helped over a hundred startups and raised over $130 million. SigmaLabs also uses what it refers to as its Deep Mentoring model, partnering with successful entrepreneurs both domestically and internationally.
The accelerator program runs for three months three times a year, during which time the program chooses six to eight early-stage startups to accelerate.
Accenture
Accenture Ventures is a startup investment and engagement program operated by international professional services and consulting firm Accenture. Focused not just on Israel but globally, the program also helps startups and entrepreneurs gain a deeper understanding of business and industry through its Project Spotlight initiative.
Microsoft M12
Microsoft is hardly an unknown quantity in the technology space — which is why we’ve decided to round off this list by highlighting the company’s M12 accelerator program. Companies that successfully join the M12 program have the opportunity to partner directly with Microsoft, gaining access to decades of experience. M12’s focus areas include:
- Cloud infrastructure.
- Artificial intelligence.
- Cybersecurity.
- Development tools.
- Web3.
- Gaming.
- Vertical SaaS.
Make your ideas a reality
The early stages of a startup are often the most challenging. The startup innovation and acceleration programs on this list are intended to help with that.
Of course, being able to prove to them you are the right fit for their ecosystem is where CloudShare comes in. Creating a digital twin or virtual replica of the relevant product with CloudShare will give you the chance to show that you can help them as much as they can help you succeed.
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