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Israel and UAE Establish First Innovation Community
Flags of Israel and the UAE, together with the flag of the city of Netanya, flown on Netanya's "Peace Bridge" over Highway 2 in August 2020. (Wikimedia Commons)

Israel and UAE Establish First Innovation Community

More than 1,000 people from Israel and the United Arab Emirates involved in the business, innovation and technology sectors, as well as investors, developers and government entities, are part of the first UAE-Israel innovation community.

The UAE-IL Tech Zone was established after the signing of the Abraham Accords normalizing relations between the two countries, with the goal of connecting between the innovation-technology-business ecosystem in Israel and its UAE counterpart, Start-Up Nation Central announced.

The new community was founded by Noa Gastfreund, managing director of Hybrid, an accelerator for early-stage start-ups which includes a founder from the Arab community; Guy Katsovich, co-founder of Fusion LA, which helps Israeli technology ventures penetrate the U.S. market; and Basil Farraj, CEO of the start-up Nobex Technologies.

The community plans to hold face-to-face meetings of delegations to each country in the coming weeks and in 2021 will move to a dedicated digital platform to enable smaller discussions.

“The purpose of the community is to provide a cultural and business bridge between the two countries through innovation and technology,” Michal Seror, Start-Up Nation Central director of community development, said in a statement.

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