Monaco, Israeli startup accelerator to collaborate for first time
The two companies, Capsula TAU and Monacotech, both operate largely in the green energy domain.
By JERUSALEM POST STAFFA worker walks next to parabolic mirrors at the research site of solar power company Brenmiller Energy near Dimona(photo credit: NIR ELIAS / REUTERS)
A Monaco-based startup incubator and an Israeli accelerator will join forces in the first collaboration between the principality of Monaco and an Israeli accelerator. The two companies, Capsula TAU and Monacotech, both operate largely in the green energy domain and said that they believe the collaboration will raise awareness about global sustainability by reducing greenhouse gases. Capsula TAU, an Israeli accelerator that connects startups and key players in industry and academia, focuses on smart mobility, energy and cleantech. It is a partnership between the Fuel Choices & Smart Mobility Initiative of the Prime Minister's Office and Tel Aviv University, and is supported by Aaron Frenkel, a businessman and leader of the Jewish community in Monaco. The accelerator is run by Julia Shteingart, one of the few female senior managers in the smart mobility world. Capsula TAU has helped several successful companies grow, including Vayavision Sensing Ltd, Upstream Security and Moodify. Monacotech was established three years ago with the support of Prince Albert II to promote local startups and has helped startups raise about 15 million euros so far. The incubator works mainly in green energy and aeronautics.
"Since Capsula TAU is a dominant player in the smart mobility startup ecosystem in Israel, it will become a bridge to the Monaco ecosystem – and together we are aiming for a fruitful collaboration," said Shteingart. "We are sure that the ability to share knowledge and host MonacoTech’s startups in Capsula and vice versa will expose both the Israeli and the Monaco startups to valuable opportunities in terms of market reach and fundraising." Last October, the prince held an exclusive online Zoom meeting with Tel Aviv University alongside other experts to discuss environmental issues and sustainable development. The zoom meeting was between Prof. Collin Price who is curating Capsula and the prince. "In order for us to envision a brighter future for the next generation, we have to work on climate issues together," Albert said in the meeting. The meeting was part of an ongoing collaboration between TAU and Monaco, whose prince has been an avid champion of environmental causes on the local and international level for years. This collaboration resulted in his receiving an honorary doctorate from the university in June 2018. The ongoing partnership has also led to the development of the Frenkel Initiative for Combating Pollution, supported by the Monaco businessman and Jewish leader.
