Intel on Sunday unveiled its new program in Tel Aviv that aims to assist Israeli startups develop artificial intelligence (AI) and autonomous systems.>
The program has been named Ignite and is devised to render a 20-week business and technical mentorship to 10-15 early-stage startups. The mentorship will be coming straight from the Intel and other industry experts and help startups in their nascent stage in finding their path to disrupt the future.
As of now, Intel does not have any plan of looking out for equity or intellectual property rights from the startups participating in the program. However, it may think of doing so in the future.
“Intel has always worked in concert with open ecosystems to scale new technologies so they can be transformational for our customers, business and society,” Intel CEO Bob Swan said. He further added, “Israel has the deep skill base in AI, autonomous systems, and the underlying technologies critical to these inflections that make it a natural choice to launch our Ignite program.”
Bob also informed that the program will be headed by Tzahi Weisfeld, former global head of Microsoft for Startups and if proved successful, it will be expanded to other countries as well.
Intel is one of the biggest employers and exporters in Israel and it has become their center of developing new technologies. In 2019, they have a plan of investing 40 billion shekels ($11 billion) in order to bolster its manufacturing operations in Israel.