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Google is falling in line with other global companies and plans to establish a startup incubator for Israeli startup companies, scheduled to become operational next August.
Google will rent an entire floor at the Electra office tower in the heart of Tel Aviv. The initiative is scheduled to begin operating at the same time Google Israel headquarters and its R&D center move into the Electra tower.
The incubator will endorse 20 startups at a time, which will rotate every few months. Google stresses that the technological incubator will be separate from the R&D center and operate as a community in its own right.
Google Israel will not invest in the companies in return for stock but it will assist them to procure loans and find guarantors. Furthermore, Google will provide the startups with the utilities and infrastructure for their operations: Office space, meeting rooms, internet access, information services, tools and consultation from Google professionals, guidance from external bodies and experts as well as ancillary services such as legal, marketing and financial consultation.