It is now time to look toward the land of milk and honey for the latest in tech. "Israel is famous for its technology innovation, though many companies have difficulty expanding into the US and global markets," says Mitchell Golner, Managing Partner of
DreamIt Israel, the latest expansion of the Philadelphia based startup accelerator. After adding a New York City program in 2011, DreamIt Ventures goes global in 2012.
On January 17,
applications opened up for Israeli entrepreneurs. Noelle McHugh, DreamIt's office manager, says companies have already started applying, and DreamIt expects to choose five Israeli startups to accompany 10 US-based entrepreneurs this summer in Manhattan.
Golner, who has been living in Israel, says DreamIt has been interested in developing a program in the Israel market for a while. "We are focused on helping Israeli startups expand in the US and in global markets. We will consider a wide array of companies that can fit the lean startup model. Most are in the Internet and mobile space and include B2B an B2C businesses." According to Golner, the new program is a hybrid and the first of its kind in Israel. DreamIt Israel will be based in the environs of
Tel Aviv. A specific location has not yet been announced.
Companies will spend one month in Israel and then travel to the US to spend three months in New York. "After the NYC program, when the companies return to Israel, they are offered a workspace for up to 2 months," adds Golner. "The curriculum, coaching, community, and other fundamental aspects of the DreamIt program are consistent across the Israeli program and the NYC program, with specific curriculum elements for the Israeli startups in the first month."
The deadline to apply to the program is early March. The Israel program begins April 15, and participants start the New York segment on May 14, returning home in mid August. There will be two demo days for the overseas participants: one in New York and one back home. The Israel program wraps up in October.
Source: Mitchell Golner, Noelle McHugh, DreamIt Ventures
Writer: Sue Spolan