Arieli Capital has signed a cooperation agreement with Ramat Negev Regional Council and Ramat Negev Industries, for the establishment of an agri-tech innovation center, within the jurisdiction of the regional council in southern Israel. The objective of the innovation centre is to expand the economic potential of the region’s agricultural sector and the agricultural research and development capabilities developed in the region in recent decades.
$5 million will be invested in the project. The center will focus on areas of expertise of the region including general agriculture, desert agriculture, marine agriculture, medical cannabis and more. The Eilat Technology Center (ETC), a subsidiary of Arieli Capital will take the lead in this venture, with the participation of the Ramat Negev Regional Council and other investors.
Ramat Hanegev is one of the largest and most successful agricultural regions in Israel. It covers 1.050 million acres and accounts for about 22 percent of Israel’s total land area.
5 to 10 promising startups will be selected by senior officials in the agricultural and investment fields to participate in the center’s ag-tech accelerator. Entrepreneurs will be offered several assistance options including financial support and mentoring by technology and business experts from the agriculture and food industries, access to labs, and R&D facilities with the overseeing of the commercialization process.
Read more at Globes