American Software Giant Oracle Launches Start-Up Accelerator in Tel Aviv

By Sephardic News Aug 10, 2017 12:43 PM

Pictured Above: An aerial view of Oracle headquarters in California. Credit: Rehman Abubakr via Wikimedia Commons.

( The American software giant Oracle has chosen five Israeli high-tech companies to participate in its first-ever Start-up Cloud Accelerator Program in Tel Aviv.

The first Israeli start-ups to participate in the biannual program include the predictive maintenance company 3DSignals, global networking company Nsof Networks, artificial intelligence platform, smart audio-visual guidance platform Toonimo and software service company Zoomin.

The companies will develop their technologies in a cooperative workspace and be granted direct access to Oracle’s customers, business partners and investors. The accelerator also provides the Israeli teams with mentoring from leading technology and business experts.

By launching the accelerator, Oracle hopes to discover new Israeli entrepreneurial talent that can assist the company in becoming the world’s leading cloud-service provider. 

The Tel Aviv accelerator is the second such program started by the American software company, with the inaugural program being launched last year in Bangalore, India. 

Oracle has been active in Israel for the past two decades, and is one of numerous international technology companies to seek out local talent in the Jewish state, acquire Israeli start-ups and develop accelerators in the country.

In February 2016, Oracle acquired the Israeli cloud software company Ravello Systems for about $500 million.