Meta has announced the launch of AI Accelerator TLV, a new program aimed at boosting the development potential of Israeli early-stage startups with a focus on AI capabilities and products. The registration process is currently open until July 31, with 10 startups expected to be selected for the 15-session program, which will run from September to December 2024.
According to the company, the AI ​​accelerator TLV is designed to support the growth and development of Israeli startups focused on open-source artificial intelligence solutions.
Over a three-month period, selected startups will receive support, mentorship and training from experts including researchers and engineers from Meta’s Artificial Intelligence Lab, and will have access to advanced cloud computing resources and new AI technologies, as well as networking opportunities with partners, investors and other entrepreneurs.
The new accelerator targets companies in the business-to-consumer (B2C) sector, which means what they’re working on is more likely to fall into the “cool tools and toys” bin of AI products.
Adi Sofer Tini, CEO of Israel’s Meta, explained that AI, generative AI and open source language models are a “unique opportunity” for the Israeli tech ecosystem, which includes many of the companies Meta has helped grow.
“Since establishing Meta’s Israeli office 10 years ago, we have supported thousands of startups from inception to all stages of growth,” she said. “The current generation of artificial intelligence technology already has great potential, and the next generation will deliver even more value to people and businesses in new ways.”
The launch of Meta’s AI accelerator in Israel signals the social media giant’s huge confidence in Israel’s vast AI potential, positioning the country as fertile ground for technological innovation, especially in the field of artificial intelligence.
Dror Bin, CEO of the Israel Innovation Authority, praised Meta’s move.
“Meta’s initiative to establish an accelerator to germinate and accelerate innovative startups will provide fertile ground for cultivating and promoting groundbreaking ventures,” he said. “High tech in Israel is the main engine of economic growth and acts as a shock absorber. We are committed to continuing to work with the tech industry in all ways possible.”
He added that Israeli high-tech companies are “at the heart of the Israeli economy,” creating “quality jobs, leading technological innovation, and generating significant tax revenues for the state treasury.”
“Despite the complex challenges the entire industry currently faces, I believe Israeli tech will overcome them and continue to grow. I applaud Meta for playing an active role in the Israeli ecosystem,” he concluded.
