Google invests 8 million dollars to support Israeli technology companies and Palestinian businesses.
This was reported by the group owned by Alphabet, as reported by Reuters online.
Google says it will provide a $4 million support fund to AI startups in Israel and another $4 million will go to newly established Palestinian startups and businesses, to allow them to continue operating despite the conflict.
The grant to the former is in addition to the Israel Innovation Authority's emergency fund established after the outbreak of the war on October 7, aimed at companies with a "short path" of financing of up to six months.
“In the current situation, quite a few startups in Israel are struggling to raise capital from investors and urgently need financial funding to continue operating,” explains Google.
In partnership with local and global nonprofits, the company will provide loans and grants to 1,000 Palestinian small businesses.
In total, the tech giant hopes to help safeguard 4,500 jobs and create new ones for Palestinians.
Since the Israel-Hamas conflict began, the company has donated millions of dollars for emergency and humanitarian aid.
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