IN-VENTech startup business program, a promoter of technological entrepreneurship in Haifa, is opening its second batch. Companies accepted to the program will enjoy business support, benefits, and grants valued at over half a million NIS, with no equity, no management fees, and zero dilution of shareholders and founders.
So, you founded a startup, invested many hours in developing an amazing product, participated in an accelerator and/or incubator, conducted a few POC's and maybe have your first paying customers.
NOW WHAT?! How do you evolve into a real business, scale, and make real money out of it?
IN-VENTech works with every company separately & individually to trace strategic partners and customers in Israel and abroad, connect with funding resources, and support the companies’ marketing efforts. The average program duration for a company is 18 months according to each company’s specific roadmap.
The program supports startups in two phases:
Acceleration stage – companies that are 3-6 months away from their first pilot.
Growth stage – companies that are post-pilot and/or with initial sales.
Established by a dedicated multidisciplinary founding team, IN-VENTech is designed for innovative technology companies, acceleration programs, or technological incubator graduates with a validated and viable business model, just prior to first funding. The program is open for companies from every sector but does give priority to the BlueTech, Digital Health and Smart City Solutions sectors. 12 companies have been accepted to the first batch out of 150 applicants.
Accepted companies will receive assistance and support connecting with partners and customers in Israel and abroad, guidance building their investment model, introduction to investors, financial management training, help to strengthen advisory boards, and support with the company’s marketing efforts.
Offices, food, and collaboration opportunities
The IN-VENTech program was initiated and designed by hiCenter for the purpose of promoting startups in Haifa’s innovation district, with the support and funding of the Municipality of Haifa and Haifa Economic Corporation, accordingly, companies will be required to establish and maintain their headquarters in downtown Haifa for a minimum of 3 years following acceptance to the program.
The program provides a fertile high-tech environment with diverse startups and options for multiple collaborations, it offers offices located in the heart of Haifa Port District, in proximity to entertainment centers, restaurants, cafes and only 4 minutes walking distance from the local train station. Companies will be able to choose whether to work from modern renovated offices or receive refunds of up to 3500 NIS a month to rent an office in the district. In addition, participating companies will be able to reward their employees with up to 3000 NIS in monthly food stipends.
As mentioned, participating companies will be connected to industry leaders, corporations, and main institutions in Haifa, Israel and abroad; will forge an advisory board with an array of professional business mentors tailored to each company’s specific needs; will go through a robust preparation process for their first meaningful funding round including exposure to investment and funding resources; will be prepared for global expansion in their designated target markets. Unlike other startup programs in Israel and even around the world, IN-VENTech does not charge any management fees and doesn’t dilute shareholders and founders.
What do entrepreneurs say about us?
Or Lustig, Founder and CEO of Seatback: “As the company’s CEO, the program gives me a complete suite that includes strategic consulting, exposure to investors, and connections to customers and partners. The program’s highest value is given in the day-to-day activity with their tight escort during our investment round. Starting with editing the investment contract, following with the complex negotiations, and ending with an efficient closing process”.
Uri Ben-Dor, Founder and CEO of Captain’sEye: “The program has boosted us in the most crucial initial stages of any startup. We’ve received enormous value from the program’s team with opening doors to international customers, guidance in our funding processes, suited offices adapted to the companies’ needs and progress and never-ending strong advice on any relevant issue. When we started the program, we were only 2 members in the team, and today we are a funded company with 12 employees and in the midst of several POCs with clients”.
Uri Dubin, Founder and CEO of RobotAI: “Every startup needs help, especially at the beginning of its life, and it’s not always just money. The IN-VENTech program does not only offer grants and benefits, but rather provides support, consultancy, and connections to relevant industry leaders. The program’s team is composed out of people from diverse backgrounds with extensive high-quality industry experience. This helps entrepreneurs from falling down rabbit holes and avoiding mistakes, and instead focusing on what’s important.”