500 Global and Ashdod Port Company Launch Accelerator Program to Modernize the Maritime Tech Industry
Global venture capital firm 500 Global and Ashdod Port Company (“Ashdod Port”), a leading port in Israel, have joined forces to launch the inaugural cohort of the Ashdod Port Accelerator by 500 Global.
Ashdod Port and 500 Global will select up to 14 Israeli startups for the accelerator program, which helps startups quickly test and validate partnership opportunities with Ashdod Port through an accelerated proof of concept over the course of five to six months.
For this first cohort, Ashdod Port is selecting startups with solutions in energy, seaport operations, logistics, and shipping. They will benefit from 12 weeks of masterclasses and coaching from 500 Global’s international network of mentors, and receive a full array of support and resources from the Port, including testing space for their products.
“Unlike traditional accelerator programs that focus on scaling and growth education, a startup that is selected for the Ashdod Port Accelerator by 500 Global will have tangible opportunities to dive straight into Proof of Concept and is on a fast-track to pilots, partnerships and integration opportunities with Ashdod Port. We are excited to be able to help startups in the maritime space expand and grow with an innovative partner,” said Ee Ling Lim, Executive Director of Global Programs, 500 Global.
“This past year demonstrated that the world of shipping and marine routes are important to the proper function of the global economy, when an estimated 90% of goods are transported by sea. We are breaking into a “blue ocean" that appears eager to absorb technology, and hope that we can bring the good news to other ports in the world. I congratulate 500 Global on their win and am delighted at this opportunity to work with them, and to help drive innovation in the marine world," said Shiko Zana, CEO of the Ashdod Port Board of Directors.
Applications for the Ashdod Port Accelerator by 500 Global are open from January 10 to February 3, 2022. The program and proof of concept are expected to take place from March to September 2022. Interested startups can get more information and apply via https://ecosystems.500.co/ashdod-port-accelerator
About 500 Global
500 Global is a venture capital firm with $1.8B in assets under management that invests early in founders building fast-growing technology companies. We focus on markets where technology, innovation, and capital can unlock long-term value and drive economic growth. We work closely with key stakeholders and advise governments and corporations on how best to support entrepreneurial ecosystems so startups can thrive. 500 Global has backed over 6,000 founders representing more than 2,500 companies operating in 77 countries. Our portfolio includes 41 companies valued at over $1 billion and 125 companies valued at over $100 million. Our 140+ plus team members are located in more than 15 countries and bring experience as entrepreneurs, investors, and operators from some of the world’s leading technology companies.
About Ashdod Port
Ashdod Port, the Port of Israel, is the leading sea port of the State of Israel with a strategically advantageous location, about 40 km from Tel Aviv and close to the country’s major commercial centers and highways.
This press release is intended solely for general informational or educational purposes only. 500 Global and Ashdod Port are independent third parties. This program will be operated by Ashdod Port with 500 Startups Incubator, L.L.C. and under no circumstances should any content provided as part of any such programs, services or events be construed as investment, legal, tax or accounting advice by either party. While parties have taken reasonable steps to ensure that the information contained in this press release is accurate and up-to-date, no liability can be accepted for any error or omissions. No representations are made as to specific outcomes from relying on the contents of this press release and any third party links. Under no circumstances should any content in this press release be construed as investment advice. No content or information in this press release should be construed as an offer to sell or solicitation of interest to purchase any securities of or advised by any parties herein. This is a non-investment program, and participation in the program does not include or guarantee an investment from 500 Global, Ashdod Port or their respective affiliates. However, participation in the program does not preclude 500 Global, Ashdod Port, or their affiliates from considering future investments in a participating company.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Faster Air Quality Mapping Thanks to Ricardo’s RapidAir Software18.1.2022 03:01:00 EET | Press release
RapidAir®, developed by the global air quality, energy and environment specialists, is the next generation dispersion modelling and policy support platform that enables users to test the impact of scenarios in minutes, supporting the identification of measures that will reduce traffic emissions and consequently improve public health. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220117005253/en/ RapidAir air quality software (Photo: Business Wire) The ground-breaking air quality dispersion modelling software has already been successfully used across Asia, Europe and the UK, supporting Clean Air Zone evaluations, traffic management measures and wider air quality management activities. In response to requests from clients, including transport and health professionals, Ricardo has developed a cloud-based RapidAir software, complimenting its consultancy offering and making the capabilities of RapidAir more accessible to profess
Megaport Announces Partnership with TD SYNNEX as Leading Network as a Service (NaaS) Vendor Partner18.1.2022 00:00:00 EET | Press release
Megaport Limited (ASX: MP1) ("Megaport"), a global leading Network as a Service (NaaS) provider, today announces a partnership with TD SYNNEX, a global IT distributor and solutions aggregator, to make Megaport’s global, private Software Defined Network (SDN) platform available to TD SYNNEX customers. “Bringing Megaport’s leading Network as a Service platform into the TD SYNNEX portfolio makes it easier for customers to modernize their network connectivity and connect quickly to leading cloud service providers,” said Rodney Foreman, Chief Revenue Officer at Megaport. “TD SYNNEX’s global scale and reach, combined with their expertise in IT solutions, makes them an ideal partner to expand our channel relationships.” "TD SYNNEX is committed to delivering IT solutions to our customers that unlock their growth," said Cheryl Neal, vice president of New Vendor Acquisition, TD SYNNEX. "Adding Megaport’s Network as a Service offerings to our vast portfolio of IT solutions enables our customers t
Tech Mahindra Bets Big on Digitally Transforming Insurance Industry; Acquires Com Tec Co IT Ltd and Invests in Two Leading InsurTech Platforms17.1.2022 17:52:00 EET | Press release
Tech Mahindra, a leading provider of digital transformation, consulting, and business re-engineering services & solutions, today announced 100% acquisition of Com Tec Co IT Ltd (CTC) for €310 million including earnouts and synergy linked payouts. CTC is an IT solutions and service provider serving the insurance and financial services industries with development centres in Latvia and Belarus. The acquisition will enable Tech Mahindra to tap onto the potential industry disruption in the Insurance sector, expand its offerings to high-end digital engineering services for some of the largest insurance, reinsurance and financial services organizations globally and scale its nearshore delivery presence. Tech Mahindra is also investing a cumulative amount of €20 million, in SWFT and Surance, for a 25% ownership in each of these two InsurTech ventures funded by the same founding group as CTC. SWFT is a SaaS-based digital customer engagement platform. It offers multiple functionalities for insur
Toshiba Appoints Andrew McDaniel to Lead Its European Retail Business17.1.2022 16:00:00 EET | Press release
Toshiba Global Commerce Solutions today announced the appointment of technology and business innovator Andrew McDaniel as managing director and senior vice president of Europe effective January 15, 2022. Based in Ireland, McDaniel will assume leadership of all European operations, reporting to Rance Poehler, global president and CEO, Toshiba Global Commerce Solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220117005027/en/ Andrew McDaniel, Managing Director and Senior Vice President of Europe, Toshiba Global Commerce Solutions (Photo: Business Wire) “Europe is a dynamic market at the forefront of retail innovation, and home to many of our customers and partners,” said Poehler. “With our commitment to retail growth globally, Andrew, with his proven track-record and deep experience in technology solution development and business innovation, is exactly the right person to lead our drive to accelerate digital transformat
Stallergenes Greer Strengthens Precision Medicine Approach in Allergen Immunotherapy With Imperial College London Research Collaboration17.1.2022 14:37:00 EET | Press release
Stallergenes Greer, a global healthcare company specialising in allergen immunotherapy (AIT), today announced that the company has entered into a research collaboration on the discovery of biomarkers of AIT efficacy with Imperial College London, a global top ten university with a world-class reputation in science, engineering, business and medicine. This long-term research collaboration, which combines the long-standing expertise of Stallergenes Greer in AIT with the prestigious research capabilities of Imperial College London, aims to push the boundaries of allergic patient care by identifying biomarkers of AIT efficacy and expanding the knowledge of the pathophysiology of allergic diseases and their treatment with AIT. “We are thrilled about this collaboration with Imperial College London which will contribute to both deciphering the mode of action of AIT and identifying key markers that can be used in the routine practice of allergology for the benefit of patients and healthcare pra
Elliptic Launches Market Intelligence Unit and Announces New Proposition for Crypto Traders17.1.2022 14:10:00 EET | Press release
Elliptic, the leading provider of on-chain blockchain analytics, today announces the launch of its market intelligence unit; a second line of business for the organization that is focused on leveraging Elliptic’s best-in-class identity graph to build new propositions and use cases for businesses trading crypto. The new unit, led by Elliptic co-founder James Smith and Laura Coffey, will harness Elliptic’s dataset as an intrinsically valuable data layer for the burgeoning institutional crypto trading market. The data will provide access to the broadest asset coverage of on-chain identity metrics in the industry, allowing traders to: Forecast: Utilize real insights behind the movements of money to access fundamental activity metrics for a wide range of cryptoassets React: Profile the different types of actors behind deposits, withdrawals and other transactions in real-time to assess the motivations behind market-moving activity Analyze: Explore flows between businesses and other types of
38% of Supplier Survey Respondents Use Early Payment to Manage Working Capital, Up From 19% In 201717.1.2022 13:00:00 EET | Press release
38% of respondents take early payments monthly in 2021, up from 19% in 2017, according to a supplier sentiment survey conducted by Taulia, the leader in working capital technology solutions. Taulia’s global supplier sentiment survey has been conducted annually since 2017 and reflects the views of nearly 80,000 respondents over a five-year period. There has been growing interest from suppliers in regularly receiving early payment once an invoice is approved as an alternative source of finance. In 2021, one-fifth (22%) of suppliers were interested in receiving early payment every time for every customer, compared to 15% in 2017. The supplier's reasons for taking early payments varied. In 2021, the main reasons for their interest in early payments were*: Cash flow gap (49%) Collections/payment predictability (27%) Working capital needs (21%) Ease of use (18%) Reduce DSO (7%) There is also a clear progression towards better behaviour from businesses with a welcome decrease in late payment,
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom