Intel's new start-up program will accelerate Israeli startups in it's early stages

The new start-up program will act "to accelerate Israeli startups in the early stages, and will begin operating in Israel and then expand to other countries." According to Intel's announcement, the program is designed for "Israeli start-ups that focus on the most influential developments in today's industry, including artificial intelligence (AI), autonomous systems and data-focused technologies and other business models. Start-up companies in the pre-seed stage to Sid in a 20-week program where they will receive practical mentoring from Intel experts and industry in a variety of product, business, management and technology fields.
The program's director, Weisfeld, will report to Intel Israel CEO Yaniv Garty, and will be accompanied by Avner Goren, vice president of Intel's architecture, graphics and software group, who will be responsible for linking the program to the technical community within Intel. Or intellectual property they develop. "However, during the press conference, Intel Israel CEO Yaniv Gerti responded that" the company may eventually invest in companies. "
In the past, Intel operated a local start-up program, which was closed in 2015. In contrast, the current plan is global, and includes a physical compound in Tel Aviv. According to Intel, it will be different from the previous plan that this time the connection to Intel will be more significant.
Intel has faced tough challenges in recent years. The company missed out on the smartphone revolution, made failed investments such as acquisition of information security company and antivirus developer McAfee, repeatedly procrastinated in the 10nm chip launch, and recently, after losing Mellanox to Anabidia, also announced the abandonment of the fifth generation cellular modem segment. In addition, following the latest reports in which the company missed the forecasts, the company's share fell sharply, erasing all the gains it recorded in 2018. "Last year we celebrated the 50th year and this year was the best year in 50 years. It was a great year for us," Swan said.
Bob Swan, Intel's chief executive officer, on his first visit to Israel since becoming CEO, said he had no regrets about the acquisition of Mobilay. "In two months we will be celebrating two years of the deal, and at the same time the company has doubled its size. It is the leading player in autonomous driving at level 1 and 2 and is only beginning to scrape off the opportunities to leverage the technology their technology produces along the way to expand the role that industry plays.
"We have been operating in Israel for 45 years and invested $ 40 billion in research and development, manufacturing, Mobilay and its Intel Capital fund, as we know, has a significant investment capability, and it will continue to invest. That the company's growth rate and the opportunities we see - in a potential market of $ 300 billion - were higher than expected, which was good news, the challenge was that we did not have enough production capacity to meet the growing demand for our products around the world. We will place our customers who rely on us in a situation where we are Negev Their growth is because we do not have the production capacity, which is a promise I gave to customers around the world, and what we are going to do is expand our production facilities in the US, Israel and Ireland. Our big budget is waiting for production plants around the world. This is our plan, we submitted the business plan in December or January this year. Our plan is to expand production capacity in our plants in these three countries over time so we do not have to limit the growth of our customers, "said Intel CEO.