500 Global and Ashdod Port Company Unveil Batch 1 of the Ashdod Accelerator by 500
500 Global, a leading global venture capital firm, and Ashdod Port Company (“Ashdod Port”), the national port of Israel, unveiled today 12 startups in Batch 1 of the Ashdod Port Accelerator by 500. They hail from Israel, with one startup based in Germany.
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500 Global and Ashdod Port Company partnered in January 2022 to mentor startups and help them test and validate partnership opportunities with Ashdod Port. The Ashdod Port Accelerator by 500 program consisted of 12 weeks of masterclasses and dedicated coaching in areas such as business strategy, sales & marketing, and fundraising from 500 Global’s network of expert mentors. The program is followed by participation in an accelerated proof-of-concept for five to six months, with the potential for investment by Ashdod Port.
Program graduates in this first cohort are addressing solutions to issues in energy, logistics, seaport operations, and shipping. They will continue to work on their proof-of-concept at Ashdod Port through October, with the help of trained port personnel. On June 22, 2022, they will present their initiatives in Ashdod at the Blue Ocean for Startups event, which will also be streamed via webcast to a curated audience of industry leaders and ecosystem players.
This exclusive event features a panel of industry experts who will share insights into the role of startups in shaping innovation, as well as trends and investment opportunities in the maritime sector in Israel and around the world.
“Ashdod Port, The Port of Israel, is proud to be a leader in the innovation industry, providing beta sites for startups and supporting new technologies in the maritime sector. With a goal of being not only the biggest, but also the smartest port in Israel, Ashdod Port has set itself a goal to support innovation. We're proud of our relationship with 500 Global, and to offer one of the only accelerator programs that runs in a port. There is no doubt that the port will become a major player in the ecosystem soon. We are happy to host our Demo Day here at the port on June 22nd, and present to you how, in a short period of time, the program developed momentum and was able to promote the startups in a variety of ways–thanks to the program and the people from the port who accompany them,” said Roy Avrahami, CIO of Ashdod Port.
“Our Ashdod Port Accelerator by 500 is a truly unique initiative, thanks to our partner’s vision and belief that technology can play a central role in modernizing the maritime industry. As a result, Ashdod stands to serve as a model for other ports. Our first batch of startups has gained a solid foundation of corporate partnerships by working with Ashdod Port, and we believe they’re set up for success in Israel and beyond,” said Ee Ling Lim, Executive Director of Global Programs at 500 Global.
"The partnership between 500 Global and Ashdod Port is a groundbreaking collaboration to strengthen the port as a key player in the Israeli innovation ecosystem. The goal of the Ashdod Port Accelerator by 500 is to create a new generation of startups that are able to address the port’s pain points and also be attractive enough to be implemented in other ports around the world. In light of this unique partnership, we look forward to supporting and participating in the upcoming Demo Day that will take place on June 22, 2022,” said Tal Chen, Partner at Deloitte Israel, and Co-Leader of Deloitte Catalyst.
About 500 Global
500 Global is a venture capital firm with $2.7B 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 5,000 founders representing more than 2,600 companies operating in 81 countries. Our portfolio includes 45 companies valued at over $1 billion and 130+ companies valued at over $100 million. Our 140+ plus team members are located in more than 20 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 seaport of the State of Israel with a strategically advantageous location. Experiencing growing demand, Ashdod Port has incorporated technological advancements into its operations and has inspired other ports around the world. Ashdod Port has collaborated with other institutions and ports to establish innovation embassies that promote growth within the industry. It frequently invests in new equipment and infrastructure for private and public benefit, and supports promising early stage entrepreneurs to bolster the maritime innovation ecosystem in Israel and globally.
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