Meta has announced today the launch of the AI Accelerator TLV, a new initiative targeting early-stage Israeli startups focused on consumer-oriented artificial intelligence (AI) applications (B2C).
Scheduled to run from September to December 2024, the program will last over a period of three months, providing selected ten startups with guidance, mentoring, and valuable resources to foster their business development.
The AI Accelerator TLV aims to support growth and innovation among Israeli startups operating in the open-source AI field. Participants will gain access to Meta's research lab experts, including researchers, engineers, and AI specialists from the FAIR lab.
They will also benefit from advanced cloud computing resources and Meta's cutting-edge AI technologies, including the advanced language model Llama 3.
Additionally, selected startups will enjoy networking opportunities with partners, investors, and industry leaders, alongside personalized coaching and business development tools.
Registration for the program is currently open and will conclude on July 31, 2024. Meta invites Israeli startups specializing in artificial intelligence to apply and join this unique accelerator program, designed to accelerate their growth and establish them as market leaders in their respective fields.
Adi Soffer Teeni, CEO of Meta Israel, commented, "AI, Generative AI, and open-source LLMs represent a big bet and major opportunity. Since establishing our local office in Israel a decade ago, we have supported thousands of startups from their early days through all stages of growth. The current generation of AI technology already unlocks a huge amount of value, and the next generation will enable even more forms of connection and expression for people and businesses. The Israeli ecosystem has a unique opportunity."
Enriching Israel's innovation ecosystem
Dror Bin, CEO of the Innovation Authority, stated, "Meta's initiative to establish an accelerator to nurture and promote innovative startups will provide fertile ground for disruptive new ventures. I believe that this platform will add value and enrich the Israeli innovation ecosystem."
The Innovation Authority will support any entity that promotes innovation in Israel. The high-tech industry is the main growth engine of the Israeli economy as well as its shock absorber, and we are committed to working and supporting it with every means at our disposal. The Hi-tech and innovative ventures are the backbone of the Israeli economy. Their activities generate quality employment, technological breakthroughs, and significant tax revenue for the state," Bin continued.
"These products and services improve our quality of life, solve complex issues, and allow us to deal more effectively with various global challenges. I believe that despite the challenges that all of us in the industry are experiencing, Israeli tech will be able to overcome them this time as well and continue to grow and prosper. I congratulate Meta for its active role in the Israeli ecosystem," he concluded.