By NoCamels Team
Israel’s startup scene is second only to Silicon Valley, but it might inch closer to number 1 with help from a well-known media figure – Larry King. King is spearheading a project which will bring the two entities together, alongside Israeli-American business partner Niv Yaakobi and the Technion – Israel’s Institute for Technology.
King is setting up the Israel-Silicon Valley Chamber of Commerce, which will be headed by him and Technion President Pr. Peretz Lavie in Israel. The chamber’s aim is to promote cooperation between the two entrepreneurship hubs in Israel and California and Yaakobi will serve as the chamber’s chairman.
The chamber will act as a nonprofit organization and it will hold various events and conferences to strengthen the bonds between both sides. The chamber will officially launch on February 26 in Tel Aviv and later, a second launch event will be held in California. The chamber will also have offices in both locations.
King intends on financing some of the chamber’s activity out of his own pocket with an initial budget of $570,000 (NIS 2 million). “Larry is aware of the fact that the high-tech industry is as important as the air we breathe for the Israeli economy,” Yaakobi said, “so he decided, alongside his investment, to actively participate and open the door for the heads and owners of the giant companies of the Silicon Valley.”
Israel has more startups per capita than any other place in the world and has 61 companies on the NASDAQ – more than China and Europe combined. It is considered the second most fertile startup ecosystem, after Silicon Valley in California.