Samsung launches a new startup incubation centre in Tel Aviv

Josh L.

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General

Samsung has revealed that it has launched a startup incubation centre in Tel Aviv, Israel. The scheme, dubbed Samsung NEXT, is the latest in the firms efforts to help startups expand their presence in the region.

Startups operating in Tel Aviv will have the facility to base their operations out of the Samsung NEXT centre after they've received funding of up to $1 million from the South Korean company.

Over the course of the past three years, Samsung has invested in a total of eighteen startups in the region. It has also acquired a handful of venture firms with cutting-edge technology through mergers and acquisitions.

This news comes just two months after Samsung's Creative Lab (C-Lab) division launched five projects that started as startups as independent companies, including the Idea Printer and Welt.

Josh L.

Source General Samsung NEXT