US-based Internet company AOL will launch a growth platform in Israel called Nautilus that will invest up to $100,000 a time in up to 10 Israeli start-ups.
Hanan Lashover, chief executive of AOL Israel, said the programme will “give maximum freedom to entrepreneurs” and “grant them access to the tools and connections of a global company.”
AOL will mentor the startups, chosen from a range of sectors that are connected to its global activities, over the course of a year. Merav Rotem-Naaman, who previously held a prominent strategic role at electric vehicle manufactuer and charging company Better Place, will direct the programme.
Nautilus’ first investment will be in Take&Make, a platform for do-it-yourself craft videos.