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.
