June 16, 2019 / 3:24 PM / a month ago

Intel launches tech accelerator in Israel, plans for more

TEL AVIV, June 16 (Reuters) - Intel Corp on Sunday launched an accelerator in Israel to develop technologies in artificial intelligence and autonomous systems, and said it plans to bring the project to other countries as well.

The 20-week program, called Ignite, will host up to 15 early-stage startups, offering them business and technical support, the California-based company said.

Intel is already one of the biggest employers and exporters in Israel, where many of its new technologies are developed, and earlier this year said it was investing 40 billion shekels ($11 billion) to expand its manufacturing operations in the country.

“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,” said CEO Bob Swan. ($1 = 3.6030 shekels) (Reporting by Tova Cohen, Editing by Ari Rabinovitch)

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