Of money
From the Office of the Minister of Defense to the United Arab Emirates: Ya'alon's new job
Moshe (Boogie) Ya'alon will head a new Israeli-owned venture capital fund, Synaptec, of the Avnon Group, which was established in the United Arab Emirates.
Ya'alon: "We will bring the spirit of the startup Nation and the most advanced technologies we have to offer to the Gulf countries"
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Moshe Ya'alon
United Arab Emirates
Venture capital fund
Walla!
Of money
Wednesday, 24 November, 2021, 12:34 Updated: 12:49
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The former Minister of Defense and Chief of Staff, Lt. Col. (Ret.) Moshe (Boogie) Ya'alon, has entered the business world and will head SYNAPTECH, a new Israeli-owned venture capital fund to be established in the United Arab Emirates. Synaptec, founded by the Avnon Group and strategic partners from the Gulf region, will invest in about 20 young start-ups with the aim of bringing the spirit of the Israeli start-up Nation to the Emirates and realizing the business potential in the defense industry between the two sides.
Synaptech's investment strategy focuses on early-stage start-ups that provide innovative solutions and technologies in various fields such as smart cities, public safety, cyber security and fintech and insurance technologies, with the ability to quickly turn from theory to proven technology.
Alongside the fund, the Avnon Group, headed by founder Tomer Avnon, together with other partners, will establish an innovation center for corporations, where start-ups will hold part of their development activities.
As well as will be established at the Corporate Innovation Center, Accelerator and Training Center for Disruptive Technologies.
The center will allow partners from the Gulf countries to be part of the development process of the products of Israeli start-up companies, and the companies themselves will receive guidance, assistance and connection to local investors and business development with customers in the Middle East and the Gulf.
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Moshe Ya'alon.
From now on, also head of the venture capital fund (Photo: Yoram Gutman)
"Symbol of peace and cooperation"
Ya'alon: "Agreements Abraham opened for Israel and the United Arab Emirates to cover strategic cooperation that will affect the two countries for many years. Through this partnership we create Bsinftk, we will bring the spirit of a start-up Nation and the latest technologies we have to offer to the Gulf states.
Innovation center, we'll build the UAE, will allow "Israeli technology companies must recruit strategic investors and develop their product in accordance with market requirements, in cooperation with their future customers in the Gulf. We believe that in a short time, Synaptec will become a symbol of peace and economic cooperation between Israel and the United Arab Emirates."
The composition of the management selected to lead the fund's activities includes entrepreneurs, technology experts and former senior executives in the Israeli economy who have extensive experience in raising capital, issues, technology and exits.
The establishment of the fund and the Innovation Center join other initiatives of the Avnon Group in the UAE, including the establishment of a local office in Abu Dhabi and close collaborations with local security agencies on various HLS projects.
The new fund will bring innovation, knowledge and entrepreneurial spirit to the Emirates, in order to strengthen the local ecosystem, create many opportunities for Israeli industry and especially start-up companies and strengthen ties with the Gulf states.
Tomer Avnon, founder of the Avnon Group (Photo: Oren Cohen)
Lt. Col. (Ret.) Moshe (Boogie) Ya'alon
is an Israeli military man and politician who served as Deputy Prime Minister, Minister of Defense, Member of the Political-Security Cabinet and Minister of Strategic Affairs. Ya'alon served as the IDF's 17th Chief of Staff Maj. Gen., and during his military service he was Commander of the General Staff Reconnaissance Squadron, Chief of the
Armed
Forces and Commander of the Central Command.
And other activities.The
Avnon Group, headed by Tomer Avnon
, Is a group of veteran companies established in 1989 and is considered a leading provider in the field of HLS, technology and security, operating in the global market, with advanced solutions and technologies in the security fields.
The group is active in more than 80 countries in America, Europe, Asia, etc., and numbers 20 subsidiaries that provide advanced technology services for large organizations, financial corporations, government institutions, law enforcement agencies and HLS units in the public and private sectors.
Avnon has proven experience in building companies from the ground up, with an impressive track record in managing and executing large-scale projects in the field of HLS and public safety.
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