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Google established a $4M support fund for startups in the field of AI in Israel. The support will be granted to startups that deal with artificial intelligence and need immediate funding to continue operating, and will be granted as supplementary support to Israel innovation authority's emergency fund, which created a rapid grant channel in response to the needs that arose following the 'Haravot Barzel' war, for about 20 companies with a short runway (up to 6 months). Google will also individually accompany and support the selected startups, and give them access to the company's experts in a variety of fields, such as development, strategy, marketing and more. The exact number of startups and the grant for each company will be affected by the budgets requested by the companies themselves, which are required to present matching funding to the grant from Israel Innovation Authority. The total amount will be, as mentioned, 4 million dollars and will be given as a capital grant with no requirement for compensation from Google.
Portfolio · 6
Investment activity
Funds · 1
- 1 — $4M Jan 2024
Q&A
- What is the primary focus of the Google AI Startup Fund?
- The Google AI Startup Fund focuses on providing support to startups in the field of artificial intelligence in Israel.
- When was the Google AI Startup Fund established?
- The Google AI Startup Fund was founded in 2024.
- What is the total amount of the fund established by Google for AI startups in Israel?
- Google established a $4 million support fund for AI startups in Israel.
- How does the Google AI Startup Fund provide support to selected startups?
- The fund provides capital grants with no requirement for compensation from Google. Additionally, Google offers individual accompaniment and support, granting access to its experts in various fields such as development, strategy, and marketing.
- What is the nature of the financial support provided by the Google AI Startup Fund?
- The support is granted as supplementary funding to the Israel Innovation Authority's emergency fund, specifically for about 20 companies with a short runway (up to 6 months).
- What are the requirements for startups to receive funding from the Google AI Startup Fund?
- Startups are required to present matching funding to the grant from the Israel Innovation Authority.
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Identifiers & details
| Founded | 2024 |
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