US-based accountancy and consulting firm Deloitte has launched an innovation hub called Innovation Tech Terminal (ITT) in Tel Aviv, Israel, to help global clients connect with Israel-based startups.
Israel has about 6,000 startups developing disruptive innovations in sectors such as financial services, digital health, automotive, the internet of things and sports technologies, and hosts more than 300 high-tech research centres.
ITT offers scouting services and immersion tours to help clients from around the world find startups in their sector, so potential investors can experiment with the technologies that interest them firsthand.
For example, automotive company executives searching for cybersecurity technology to protect their cars from hackers will be able to meet cyber startups and try out their software by requesting a simulated hack as they are driving the test vehicle.
Deloitte will hire a team of ITT professionals from Israel and the US, who will be based in Tel Aviv, and who will work to build relationships with key players in the startup community, conduct research and manage clients.
Jeff Schwartz, principal at Deloitte Consulting, said: “Our large multinational clients are pursuing innovation and growth strategies and often turn to Deloitte to explore and grow their external innovation networks.
“ITT allows us to [help] clients establish relationships in the fast-growing and highly innovative Israeli startup market.”