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Samsung Electronics Co., South Korean tech behemoth, said Monday that it has launched a startups-incubating program in Israel as part of its efforts to help promising startups expand their presence.
The Samsung NEXT Tel Aviv will serve as a center for startups there. A startup may be funded up to US$1 million by Samsung, and the South Korean tech firm will cooperate with venture firms with cutting-edge technologies through a stake purchase and mergers and acquisitions.
Samsung Electronics has invested in a total of 18 local startups there over the past three years.
Samsung, the world's largest manufacturer of smartphones, also operates similar programs in New York and San Fransisco. (Yonhap)
The Samsung NEXT Tel Aviv will serve as a center for startups there. A startup may be funded up to US$1 million by Samsung, and the South Korean tech firm will cooperate with venture firms with cutting-edge technologies through a stake purchase and mergers and acquisitions.
Samsung Electronics has invested in a total of 18 local startups there over the past three years.
Samsung, the world's largest manufacturer of smartphones, also operates similar programs in New York and San Fransisco. (Yonhap)
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