Germany's Siemens has joined the global trend of tech and engineering giants launching an Israeli program for spurring innovation.
At Tel Aviv’s Sosa complex, the Siemens Dynamo program will help Israeli startups test their products and make them more familiar with the company’s technologies.
“It’s a structured program designed to take innovation and accompanying startups at various stages of development under one roof until the commercialization stage,” said Shmuel Fledel, the chief executive of Siemens Israel.
“The startups that will be chosen for the program will be integrated into the ecosystem of Siemens, its business partners and its customers. Likewise, if the companies’ technologies suit Siemens' product portfolio and solutions, this will likely lead to the acquisition of those technologies.”
Among the Israeli startups to begin operating in the lab will be CoreTigo, which develops secure wireless systems for industrial applications, QualityLine, which develops technology for quality control to reduce manufacturing costs, and Halo Digital, which is crafting a digital platform to detect security, quality and compliance issues.
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Siemens joins a wave of tech giants seeking to ramp up their cooperation with Israeli startups. General Electric, a Siemens competitor, is running a collaboration program with Israeli startups at its Herzliya offices.