Google launched its start-up incubator in Tel Aviv on Monday, hoping to create a center for the entire Israeli high-tech industry. The incubator, named Campus TLV, takes up an entire floor of the Electra Tower.
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The campus will be run by Amir Shevat, Google Israel program manager in charge of relations with independent software developers, and Eyal Miller, the head for new business development.
The facility will hold regular events for local entrepreneurs and offer access to Google staff and other industry experts. It will also host Launchpad, a selective, free, two-week boot camp for early-stage start-ups. It plans to help 100 promising Israeli start-ups each year.
Google calls the facility an "innovation hub" for the country's many start-ups. Google started its first Launchpad last year in London.
Prime Minister Benjamin Netanyahu cut the virtual ribbon at Monday's ceremony. "The world is flying fast and we're leading the way," Netanyahu told the crowd. He called for greater participation of other groups in high tech, including Arabs, the ultra-Orthodox and women.
The new campus is part of the move of 270 Google Israel employees to their new offices. Google invested NIS 100 million in its new offices spread over six floors on Yigal Alon Street.