Multinational chip maker Intel will be opening an innovation lab in Haifa engaged in the Internet of Things, the company announced Monday, referring to the tech field in which the functioning of appliances and machines is enhanced by their being connected to the Internet. The lab, which will be based at the company’s research and development plant in Haifa, will collaborate with startups in the field, notably those dealing with solutions for the home, agriculture, transportation and urban use. In the process, Intel hopes to encourage startups to use its Internet of Things platforms, including hardware, software, data storage and wireless communication. It will provide advice, assistance and the use of Intel’s facilities to the startups at no charge. The company currently has similar labs in Britain, Germany, Sweden and Turkey.
Senior Israeli tech execs earned less in 2014
Despite the success of Israeli high tech last year, the average compensation that senior executives in the sector received in 2014 actually declined, according to a study from the BDO Consulting Group. The study, which analyzed firms traded on the Tel Aviv Stock Exchange, found that while combined tech firm profits soared by 38%, compensation paid senior management slumped by 4% compared to 2013, to an average of about 1.5 million shekels ($389,000) per manager. The decline was attributed to two possible factors: that there was only a weak relationship between compensation and performance or that the performance targets for the year were particularly ambitious and were not met or were only partially met. (Amir Teig)
Stox wraps up $8 million financing round
Stox, the Israeli-founded stock trading startup has closed an $8 million Series A round of financing led by Mobli founder Moshe Hogeg’s Singulariteam investment fund, the TechCrunch website reported Tuesday. Stox’s website is in the beta stage of development in Britain and will be launched later this year in the United States, TechCrunch said, and quoted the London-headquartered company’s CEO, Roy Shaham as saying that the Stox site is distinguished from the competition by a simplified interface and social features.