Hebrew University Faculty Urge End to Crisis With Mobileye Founder Amnon Shashua

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Amnon Shashua's OrCam, makers of a wearable device which provides visual aid for visually impaired people, Jerusalem, March 28, 2017.
Amnon Shashua's OrCam, makers of a wearable device which provides visual aid for visually impaired people, Jerusalem, March 28, 2017.Credit: AMIR COHEN/REUTERS

Hebrew University faculty urge end to crisis with Mobileye founder Amnon Shashua

Hebrew University of Jerusalem faculty members have urged the administration to reconcile with Prof. Amnon Shashua and Shai Shalev-Shwartz after the two resigned in a dispute over royalties from Mobileye, the auto-tech company sold to Intel this year for $15.3 billion. A letter signed by 40 members of the computer science faculty urged Hebrew University President Menahem Ben-Sasson and other top administrators to resolve the crisis immediately, saying that other leading universities had already offered Shashua and Shalev-Shwartz teaching positions. “The blow will be fatal to the School of Engineering and Computer Science — we cannot afford to lose two key players such as Amnon and Shai,” the letter said. “Faculty with an applied orientation will be very reluctant to join us in such circumstances.” TheMarker revealed last week that Shashua, a co-founder of Mobileye, resigned from the university after the institution said it wanted to revisit royalty agreements settled through arbitration years ago. (Guy Erez and Omri Zerachovitz)

Intel launches eighth-generation Core processor, developed mostly in Israel

Intel on Monday unveiled its eighth-generation Core processors, starting with the Kaby Lake Refresh, developed largely in Israel. The company promised an increase of up to 40% in laptop speed over their 7th Gen counterparts, launched just a year ago. CEO, Brian Krzanich, who was in Israel for the event, told TheMarker they would deliver faster performance without reducing battery life. The new processor range is focused on the growing use of high-resolution content such as 4K Ultra HD video, 360-degree video, augmented reality, virtual reality and mixed reality. Intel said the new processors will be up to 40% faster than the last generation Kaby Lake processors when crunching numbers in Excel on a laptop. It will be able to process photographs in Adobe Lightroom and organize and edit images in a slide show up to 48% faster.  Intel employs 10,500 people in Israel, mostly in research and development, and said last month it will be hiring 1,500 more. (Eliran Rubin) 

Online shopping by Israelis set to rise 18% in 2017

Israeli shoppers are forecast to spend 14 billion shekels ($3.9 billion at current exchange rates) shopping online this year, an 18% increase over 2016, the online payment company Paypal said on Monday. The forecast is based on figures for the first half of the year, which show that half of all Israeli spend between 300 and 500 shekels a month buying products on the internet and one in 10 spends at least 1,000 shekels. Ecommerce is growing because Israelis are checking out ecommerce sites more frequently — one in four looks at what’s available around once a day, according to Paypal. Also, online shopping has spread to a wider range of consumers. If five years ago, most purchases were made by people ages 20 to 35, today the over-50s have become internet shoppers and so have children, it said. Some 10% of children aged 8 to 14 are allowed by their parents to buy online on their own, the Paypal survey found. (Hadar Kane)

Delphi Automotive takes stake in Israeli startup Innoviz

Delphi Automotive said on Friday it had acquired a stake in Innoviz Technologies, an Israeli startup that has developed a laser-based sensor to improve vehicle safety for self-driving cars, and had entered into a partnership with it. It marks the third such tie-up with an Israeli startup for the U.K.-based auto components maker, which earlier this year invested in Valens, a specialist in signal processing, and formed a partnership agreement with Otonomo, which offers tech for monetizing automotive data via a digital marketplace. Innoviz’s LiDAR technology enables self-driving cars to identify objects from far away, letting them travel at high speeds safely. “Along with radar and vision technology, LiDAR is an essential component to Delphi’s automated driving perception suite,” said Glen De Vos, a Delphi senior vice president and chief technology officer. Founded in January 2016, Innoviz’s investors include the Israeli venture fund Vertex Venture Capital and Magma Venture Partners. (TheMarker Staff)