US-based internet company Google is set to open an incubator in Israel next year, according to comments made by Yossi Matias, director of Google’s Israeli research & development centre, on Sunday.
The comments were made at Google Israel’s annual development conference. The incubator is planned to commence operations when Google Israel moves into its new offices in Tel Aviv, and will initially be made up of 20 pre-seed stage startups, chiefly those which work with the kind of open-code technology used on Google’s Chrome browser and Android mobile operating system.
Google Israel has stated that the incubator will operate as a separate entity, and has no plans to invest in the startups through its corporate venturing unit, Google Ventures, or to necessarily form partnerships with the entrepreneurs.
In an interview with Israel-based financial newspaper Globes, Matias said: "We sought more ways to link up with the local industry and encourage entrepreneurs to develop breakthrough products. The fact that the incubator will sit adjacent to Google Israel’s new offices will enable us to closely work with and advise them and provide them with suitable support."