{"id":8924,"date":"2024-06-18T12:04:34","date_gmt":"2024-06-18T12:04:34","guid":{"rendered":"https:\/\/innovationisrael.org.il\/en\/?post_type=press_release&p=8924"},"modified":"2024-06-25T14:44:37","modified_gmt":"2024-06-25T14:44:37","slug":"winners-to-establish-angel-clubs","status":"publish","type":"press_release","link":"https:\/\/innovationisrael.org.il\/en\/press_release\/winners-to-establish-angel-clubs\/","title":{"rendered":"Israel Innovation Authority Announces 8 Winners In Tender To Establish Angel Clubs For Early-Stage Investments In Deep Tech"},"content":{"rendered":"\n
The Israel Innovation Authority announced the winners of its tender to establish Angel Clubs for initial investments in deep tech startups. From 40 submissions, eight proposals were selected to create and run new Angel Clubs with the support of the Innovation Authority. Each winning proposal will receive an operational grant of NIS 900,000 per year for a three-year period.<\/p>\n\n\n\n
Gila Gamliel, Minister of Innovation, Science and Technology<\/strong>, said: “The initiative to establish Angels Clubs announced this morning joins a long line of initiatives by the Innovation Authority this year aimed at assisting startups and companies in raising additional investments and continue growing in Israel. Given the economic data presented, it is evident that the high-tech sector is a central growth engine of the Israeli economy, contributing 20% of GDP and 53% of exports. Therefore, we must persist in investing in this growth engine, which serves as a stabilizer for the Israeli economy even during crises or slowdowns.”<\/p>\n\n\n\n Alon Stopel, Ph.D., Chairman of the Israel Innovation Authority<\/strong>, said: “In recent years, there has been a decline in the number of active Angels investing in pre-seed and seed-stage companies in Israel, especially in deep-tech companies. These initial investments are crucial for nurturing new startup companies that are vital to the future of the Israeli high-tech sector. Last year, we enacted the Knowledge Intensive Industries Law, providing significant tax benefits to private Israeli individuals investing in startups and establishing the new Startup Fund. Now, we are pleased to announce the establishment of the selected new clubs from among numerous excellent proposals, aimed at encouraging private investors, both local and international, to invest in promising Israeli companies at their inception.”<\/p>\n\n\n\n Currently, most Angels operating in Israel invest individually, with very few organized groups of active Angels. An individual private investor can make smaller investments in a limited number of companies and has limited ability to evaluate ventures across diverse sectors and domains. In contrast, an Angel Club allows for professional management of the investment process and due diligence, enables syndicated investment by multiple investors, diversifies risk, increases the investment amount, and improves post-investment operational management. Consequently, this enhances the company’s chances of success and growth due to all club members’ investments and shared experience.<\/p>\n\n\n\n Behind the newly established Angel Clubs are strong partnerships from Israel and abroad, including venture capital funds alongside experienced local and international Angels, multinational corporations, academia, private companies, professional forums, associations, and more. The clubs will work to attract Israeli and foreign investors from around the world and expose club members to business investment opportunities in Israeli technological initiatives across various fields, emphasizing companies with deep technological expertise (deep tech).<\/p>\n\n\n\n Hanan Brand, Vice President and Head of the Startup Division at the Israel Innovation Authority<\/strong> said:<\/strong> “Private investors – ‘Angels,’ have always been a critical resource for establishing startup companies in Israel, both in terms of funding and the significant added value they provide to entrepreneurs at the beginning of their journey. However, there has been an inherent failure in this field – it is extremely difficult for entrepreneurs to find private investors willing to invest in young companies, and for potential investors, it is challenging to manage a structured and orderly process of exposure and investment management in startup companies.<\/p>\n\n\n\n Therefore, we are very pleased to launch today a complementary initiative to a series of tools we have introduced in recent months for the benefit of entrepreneurs at the beginning of their journey, including the Law for Encouraging Knowledge-Intensive Industry, doubling the grant amount at the ideation stage (Tnufa Fund), launching the Startup Fund that participates in the risk together with the investors throughout the company’s lifespan, a call for proposals to establish new deep-tech incubators in the Venture Creation model, and more. We believe that all these initiatives, together with the establishment of Angel investor clubs, will inject momentum into the establishment of new startup companies, for the benefit of the future of Israeli high-tech.”<\/p>\n","protected":false},"excerpt":{"rendered":" The winning groups will establish and operate Angel Clubs serving as platforms for Israeli and foreign private investors to invest in pre-seed stage startups in Israel The Israel Innovation Authority announced the winners of its tender to establish Angel Clubs for initial investments in deep tech startups. From 40 submissions, eight proposals were selected to […]<\/p>\n","protected":false},"featured_media":8932,"parent":0,"template":"","geographic_location":[94,96,138,108],"collaboration_opportunities":[99,102],"mini_site_category":[],"class_list":["post-8924","press_release","type-press_release","status-publish","has-post-thumbnail","hentry","geographic_location-america","geographic_location-europe","geographic_location-israel","geographic_location-united-states","collaboration_opportunities-entrepreneur","collaboration_opportunities-investors"],"acf":[],"yoast_head":"\nThe winners of the Angel Clubs track are:<\/u><\/strong><\/h5>\n\n\n\n
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