Published On: Sun, Jul 5th, 2015

Samsung founding startup accelerator in Israel

The accelerator in Yakum is the first of its type in the world launched by Samsung.

Samsung Yossi Smoler/ Photo Tamar Mazrafi

Samsung is founding a startup accelerator in its development center in the Yakum industrial park. Yossi Smoler, innovation manager at the Samsung R&D center is in charge of the accelerator. Samsung is currently looking for 6-10 startups for its first cohort in the accelerator, which will open towards the end of the year. Registration to close on September 12. The focus is on companies in their early stages, before feasibility studies.

Smoler explains, “We’ll look for startups whose products are synergetic to Samsung’s product line, whether telephones, televisions, or any other product we develop, and see later whether there is room for cooperation between the two sides.” The startups that join the accelerator, in which each cycle will last six months, will receive a $50, 000 grant (without equity), together with a work site, a laboratory, business and professional advice from mentors from within and outside Samsung, and perhaps most important of all connections to Samsung business units in South Korea…

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