South Korea-based electronics conglomerate Samsung is reported in Al-Monitor to be planning to increase its investment activity in Israel, through a new seed accelerator and incubator for technology startups, and via its two venture capital funds, Samsung Catalyst Fund and Samsung Ventures.
The accelerator will be established in Samsung’s existing, local R&D center and managed by Amit Baruch, CEO of Samsung Semiconductor Israel, along with Ruth Adar, director of business development at Samsung Semiconductor Israel R&D Center.
Samsung Ventures has already made several investments in Israel. However, during a visit to Israel in October, Young Sohn, president and chief strategy officer of Device Solutions at Samsung Electronics, announced the first investment by the Samsung Catalyst Fund into an Israel-based startup: Mantis Vision, which was established in 2006 and has developed of a 3-D scanner designed for installation on mobile devices.