Porsche AG
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Porsche invests eight-figure sum in Israel
Innovation office in Tel Aviv for collaboration with start-ups and venture capital funds
Stuttgart/Tel Aviv
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“Israel is a key market for IT experts and engineers. It has more start-ups per capita than any other country in the world. This talent and technological know-how coupled with the great expertise offered by our employees creates the ideal breeding ground for future business models”, says Lutz Meschke, Deputy Chairman of the
The Magma Venture fund invests since 1999 and is currently focused on artificial intelligence and automotive. With investments in numerous successful start-ups like Waze, Magma Venture is one of the major venture capital funds in Israel and has 600 million US dollars under management. Established in 2015, Grove Ventures is a venture capital company with a volume of 100 million US dollars. Its primary early stage investment areas are the Internet of Things (IoT), Cloud Technologies and Artificial Intelligence.
“Innovations have to come from somewhere. They need to be developed systematically, which is why we are starting to open up: It is both desirable and essential for us to welcome inspiration from other industries. That’s why we are working together with start-ups, but also establishing partnerships with other companies and the scientific community as well as investing in funds that are relevant to our sector”, says Meschke. Examples of this approach include the investment that
In the past year,
Each of these investments is based on a process of digital transformation within the company itself, which aims to modernise workplaces and organise processes more efficiently. Work is also being done inside
Images in the
6/1/2017
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