A new fintech-Cyber lab will be established in Be'er Sheva

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by Ifi Reporter Category:Hitech May 1, 2018

A new cyber lab will be established in Be'er Sheva in the field of Fintech-Cyber, at an investment of NIS 5 million. This is a joint move by the cyber, emergency and security systems in the Ministry of Finance, the national cyber network at the Prime Minister's Office and the Innovation Authority.
The lab will strengthen the strength of the Israeli financial system by increasing its accessibility to fintech's innovation and will encourage growth and competition in the local financial market. The Ministry of Economics believes that strengthening fintech and Cyber ​​in Israel will increase foreign investment in Israel, and will establish Be'er Sheva as a cyber capital on the national and international level.
In the framework of the "Call for Papers" of the innovation labs program of the Innovation Authority, five franchisees were chosen. The laboratories will be operated for three years and will receive total funding of NIS 4.5 million annually from the Authority. The laboratories will be established in Nazareth, Haifa, Tel Aviv and Yavneh.
The operation of the laboratory will be carried out by a technological corporation with a unique technological infrastructure, knowledge and expertise in Israel and abroad in the field of computerization and infrastructure in the areas of finance and cyber. In addition, a financial partner will be required to provide the companies with access to financial data, needs, products and processes. .
Finance Minister Moshe Kahlon said that the project is a direct continuation of the policy of the Finance Ministry and the government to strengthen and nurture the Negev and the Galilee. The project establishes Be'er Sheva's status as a global cyber capital. The plan reduces the risks inherent in the sector and is expected to lead to increased competition in the sector, a reduction in concentration and, consequently, a decrease in prices
Minister of Economics and Industry Eli Cohen said that there is no more suitable field to start than cyber and pintek in the cyber capital of Israel Beer Sheva. We intend to establish additional laboratories for innovation in specific areas, which will contribute important economic value to the economy and innovation. Our job is to promote industry and the economy in Israel, and in the periphery in particular.
According to him, this program has a unique opportunity to exploit the unique infrastructure created by the State in favor of strengthening the industry. "Be'er Sheva is the capital of the national cyber and the innovation lab will strengthen its position further and help establish it in the world," he added.

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