Enel Launches Tel Aviv Innovation Hub in Israel

Published on Monday, 11 July 2016

“We find ourselves in a very interesting situation in the energy industry. Companies like Enel that make technology innovation one of the pillars of their business strategy have great opportunities to look forward to. Our Tel Aviv Innovation Hub is an important piece of this puzzle. We embrace an open innovation philosophy by collaborating with the best start-ups worldwide, making available our engineering and technological expertise in order to promote new uses for energy, new ways of managing and delivering energy access to more people. Israel is one of the world’s most innovative countries in which every year hundreds of interesting start-ups are launched. I am confident that our presence in this country will help us to accelerate in the innovation of the energy industry”

– Francesco Starace, Enel CEO

“We are proud to collaborate with a market leader like Enel in this exceptional opportunity. As part of the programme, SOSA & The Junction will screen the Israeli tech industry according to Enel’s strategy and criteria, and connect Enel to the most promising and disruptive technologies”

– onathan Saacks, Managing Partner Genesis Partners and SOSA co-founder

In Israel the Group will adopt the operational model that has tested in other regions like Latin America and that is already paying off, with 30 start-ups that to date are running strategic projects.

More specifically the start-ups will be selected by an advisory board made up of Enel senior executives that will evaluate the strategic fit with the Group’s needs and their business potential. Each start-up collaborating with Enel will work alongside with an internal champion that will facilitate the relationship with the global business lines and the Group’s market units.

Moreover, the selected start-ups will benefit from a number of valuable resources such as: mentorship provided by Enel, SOSA & The Junction senior executives, a high tech and comfortable space where to work, test-beds where to improve their solutions, possibility to run pilot projects in the markets where Enel has a presence and access to Enel sales channels that everyday reach millions of customers.

Start-ups working with Enel will have the chance to receive further financing from the Israeli Ministry of Economy that, according to an agreement in place with Enel, will provide funding equal to the value of Enel’s support.

Enel wants to be an active player of the Israeli ecosystem collaborating with universities, venture capital funds, institutions and other corporations in order to feed and enrich the Israeli innovation network and to link it to the other ecosystems in which Enel takes part.