IIA introduces new Angel Clubs to support early-stage startups

The Israel Innovation Authority (IIA), the government agency responsible for promoting the high-tech sector, has announced the winners of a tender for a new program designed to help young start-ups raise seed capital from private investors, so-called angel investors.

The IIA selected eight proposals from 40 Israeli and foreign proposals to support the establishment and management of the fishing clubs. Each of the eight winners will receive an operating grant of NIS 900,000 per year for a period of three years.

The initiative is one of several financial measures the IIA has taken since the war with Hamas began in October to support the high-tech sector, a key player in the country’s economy.

The eight winners are:

1. TEClub VC LTD. – a new investor club for mega angels from Israel and abroad who are interested in investing in early-stage breakthrough technologies

2. Investors Forum Ltd. – a new club founded with partners such as Ben-Gurion University of the Negev and prominent figures in the industry with a focus on DeepTech

3. BABA METZIA GP LLP – a club with members from Israel and abroad with a long-term plan to overcome the initial financing hurdle for new startups

4. WINGS IL LTD. – a new investment club created to position Israel as a leader in investing and developing advanced DeepTech technologies.

5. ERETZ ANGELS LTD – a club founded to expand the influence of Israeli technological innovations on the national economy and society

6. IL ANGEL CLUB LTD – a club with a comprehensive strategy to attract business and investment, with a unique model of building an international ambassador network to attract additional investors

7. EIGHT TWO HUNDRED ANGELS. LTD – a club with a broad partnership that will invest in various areas, with a focus on Industry 4.0, AgTech and FoodTech

8. Ziv Haft Consulting and Management Ltd. – a club with a network in Israel, the USA, the United Arab Emirates, Bahrain, China, India and Vietnam to connect entrepreneurs with investors for areas such as ClimateTech, Agritech and FoodTech