Samsung planning to launch startup incubator in IsraelOct. 9, 2013
Samsung is launching a startup incubator in Israel, the president of the Korean electronics company, Young Sohn, announced on Wednesday.
Samsung is also investing in another Israeli startup, Mantis Vision, said Sohn.
He was speaking during an event titled Samsung Global Innovation that included senior Israeli venture capitalists and representatives of startups. During the event, he presented Samsung’s plans for expanding its investments and its search for innovative technology in Israel. A delegation from Samsung’s Menlo Park, California, center for innovation and its Korean VP-technology’s office is visiting Israel for the week. The team is looking to meet representatives of startups, entrepreneurs and researchers developing technology that meets Samsung’s needs.
In February, Samsung announced it was launching the $100 million Samsung Catalyst Fund. Now, that fund will be investing in Israel as part of its accelerator program here.
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