Arieli Capital launches Southern Starlight Initiative to support southern Israeli startups
Arieli Capital launches Southern Starlight Initiative to support southern Israeli startups
The investment firm has invested NIS 5 million to help early-stage startups affected by 7/10
Arieli Capital, an investment firm with centers across the U.S., Europe, and Israel, has announced that it has launched its Southern Starlight initiative. The goal is to invest NIS 5 million (~$1.3 million) into startups that have been impacted by the 7/10 attack on Israel by Hamas.
"To alleviate the challenges posed by recent events, and their profound impact on the health and prosperity of Israel's southern residents, we could not be more honored for Arieli to play its part in supporting those in need with financial assistance and additional resources," said Eric Bentov, Managing Partner at Arieli Capital.
Southern Starlight funding will extend to companies whose founders originally come from the southern region or have relocated there, reflecting its continuing commitment to supporting Israel’s economy. The initiative is open to early-stage companies affected by the events that took place on October 7 and they can apply for assistance via its application form.
Arieli Capital’s involvement in Israel’s south is well-established. In the past, it created the Frontier AgroTech Innovation Center in collaboration with the Ramat Negev Regional Council. Looking to discover desert agriculture expertise in Israel, the Council has conducted research and offers participation in comprehensive scale-up programs for business development and investment opportunities.
Israel’s southern region is home to several high-tech hubs, such as the Gav Yam Negev Advanced Technologies Park, with more than 35 high-tech firms (international and Israeli) operating in the area, as well as the Be’er Sheva-based FinSec Innovation Lab. It is also home to Ben-Gurion University which fosters innovation, particularly in Cyber and Desert-tech.
