Blank-check firm ION begins search for Israeli tech unicorn

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By Krystal Hu

(Reuters) – ION Acquisition Corp 1 made its debut on the New York Stock Exchange on Friday after raising $225 million in an initial public offering (IPO), the only current blank-check acquisition company focusing on the Middle East region.

The IPO, which was larger than ION had originally planned, is the latest in a string of listings by special purpose acquisition companies (SPACs), with almost $50 billion raised so far in the United States.

ION shares closed up 4.7% at $10.47.

A SPAC uses capital raised through an initial public offering to buy a private company, usually within two years.

With a specific geography and industry focus, ION Chief Executive Gilad Shany said he wants to target Israeli tech companies at over

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Israeli defense giant picks five startups to develop future tech

JERUSALEM — Israel Aerospace Industries has chosen five startups to work with its engineers and experts to create products with the company, including sensors and artificial intelligence.

The five startups are QuantLR, Aigent-Tech, DST, Scopoli, and FVMat. Their work will focus on sensors for tracking people and objects, AI, monitoring systems, and landing gear, among other technologies.

IAI produces and supports a variety of defense systems for land, air and naval applications, such as a recent test of the Arrow 2 air defense weapon and a new sea-to-sea missile.

“IAI’s unique accelerator track allows the startups to work with IAI’s technology leaders, realize long-term business potential, leverage breakthrough technologies, and gain access to IAI’s customers,” the company said in a statement Oct. 1.

Among the companies selected, FVMat focuses on meta-materials, such as the production and design of materials with unique densities and stiffness. The firm will work with IAI

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These Up And Coming Tech Hubs Are Having A Moment With Israeli Tech

Up until a few months ago, it was an all familiar path. Israeli founders team up to create a technology that solves an existing problem in a big market, and immediately look to expand to either New-York or Silicon Valley in the search for US funding, customers and talent so they can build a global business. This is a model that’s been proven time and time again, with much success. In fact, it’s been so successful that Israeli tech has changed its nickname from Startup Nation to Scale-Up Nation. Then, Covid-19 hit and everything changed. 

Suddenly, these US tech hubs aren’t quite as attractive. NYC suffered a major economic hit as many fled

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Israeli, Emirati technology ministers discuss possible joint projects

Science and Technology Minister Izhar Shay discussed on Wednesday in a virtual meeting with his Emirati counterpart, Industry and Advanced Technology Minister Sultan al-Jaber, possible collaboration in research and development between the countries. 
The discussion focused on fields in which both Israel and the United Arab Emirates have a shared interest. These include, for example, the civil space industry, the advanced agriculture industry and the development of artificial intelligence-based technologies, which both countries have shown an interest in in past occasions. 

The ministers also discussed the development of a foundation that will encourage future scientific and technological joint projects for citizens from both countries.

“These are exciting days for our nations,” Shay said. “As an Israeli citizen and a member of this government, I’m grateful for the opportunity of having this conversation and embarking on a new journey of peace between our countries.”

“Bringing Israeli and Emirati scientists and entrepreneurs

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IMPROVATE brings together African nations and Israeli tech companies to tackle food security challenges

Tony Blair: This is a huge opportunity to help Africa fulfil its potential as a major source of food, not just for Africans, but for the world

IMPROVATE founder & chair Irina Nevzlin: “During the current time of crisis, leaders need to unite and work together to implement common goals and solve common problems.”

TEL AVIV, Israel, Sept. 29, 2020 /PRNewswire/ — IMPROVATE held a first of a kind conference on “food security” with the aim of connecting Israeli technology companies with African nations tackle the continent’s urgent challenge of feeding a rapidly growing population.

Agriculture Ministers of five African nations, The Democratic Republic of Congo, Kenya, Tanzania, Ethiopia and the Kingdom of Eswatini (formerly known as Swaziland) presented to Israeli technology companies the challenges and problems faced by their countries.

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