Gary Jacobs, founder of Next Generation Technology, is creating a model of the idea that people who have to work together in business may ultimately work together to create peace. Next Generation has offices in Nazareth that pair Arab and Jewish scientists on cooperative projects.
“The idea is when people work together and prosper together, peaceful relations are possible. Ultimately the world benefits from the revolutionary medical science products and our investors earn substantial gains.” The company has a target investors fund of $57 million and has $31 million in non-diluted Israeli government funding.
Jacobs has to travel a lot; he is in Israel every few months for several days at a time. This has resulted in the creation of 32 companies that have been created in 12 years.
Jacob’s wife, Jerri-Ann, is involved with a non-profit Student Leadership Program that brings Jewish teens from San Diego and Shar HaNegev together with Arab teens from Segev Shalom and Lakia. The program lasts a year and allows students to explore and share community and cultural insights.
Jacobs said, “The turmoil in the Middle East means our programs are even more important. It is much harder to hate someone and want to cause them harm when you know them as a person and not just as a name.”
The NGT3 incubator supports educational programs that promote and encourage technological entrepreneurship. We work with students and college graduates and reach out to “young entrepreneurs” programs. In addition, we organize and sponsor regular lectures, business forums, and conferences in schools, community centers, colleges, and at NGT3.
NGT by the Numbers (Source: ngt3vc.com)
27 companies established to date (13 Arab entrepreneurs, 9 Jewish entrepreneurs, 5 joint Arab-Jewish entrepreneurs)
Most Arab technological entrepreneurs approach NGT
80 graduate students, researchers, and laboratory employees have integrated into Israeli industry after gaining experience at NGT
40 college students (mostly women), studying bioengineering or biology, who are completing their final project with NGT portfolio companies and are mentored by company employees
15 businesspeople and angels from the Arab sector invested in NGT and its portfolio companies — the first Arab angels’ investment in technology