With a view of assisting Israeli and international diamond-related start-ups, the Israeli Diamond Exchange (IDE) has announced the inauguration of its Diamond Tech Innovation Center that will provide a home and financial support for start-ups that are in the initial stages of development, and thereby joining Start-up Nation an organization dedicated to assist innovative ventures.
By this initiative IDE is planning to promote new technologies for diamonds not only as a boost to the Gem & Jewelry trade and industry, but also in other fields where diamonds are used, such as industrial platforms, robotics, semi-conductors, medical technologies, space technology, as well as software, finance, and B2B and B2C marketing platforms.
In the establishment of the Diamond Tech Innovation Center, IDE has appropriately gone into partnership with two leading companies based in Israel, involved in the development of innovative technology in the diamond-related field, Sarine Technologies Ltd, the Israeli-based World leader in the development and manufacture of advanced, cutting edge, state-of-the-art evaluation, planning, cutting, shaping, polishing and grading systems for diamond and gemstone production and the Hennig Diamond group, which has an international investment arm specializing in diamond technologies. Apart from this The Technion-Israel Institute of Technology has also been co-opted as a strategic partner for research and development. The Diamond Tech Innovation Center has now applied to the Israel Innovation Authority, the organization that funds the establishment of new technological centers and start-ups, for official recognition and support.
Commenting on the establishment of the Innovation Center, Yoram Dvash, President of IDE said, “We made a strategic decision to establish Diamond Tech Innovation Center because we are convinced that the diamond industry must advance technologically. Since Israel is a world leader in technology – with over 1500 new start-ups established every year – we are in a perfect position to take the lead in this. We will harness the energy and creativity of the Start-Up Nation for the good of our industry. The Israel Diamond Exchange will invest all of its resources to ensure the success of these start-ups and their contribution to the diamond industry.”
Commenting on their partnership with IDE in establishing the Center, David Block, CEO of Sarine Technologies Ltd. said, “As the global pioneer in diamond technology, Sarine is excited to be a part of this important new initiative that will be instrumental in advancing Israeli diamond-based technological solutions. As partners in this venture, Sarine is proud to support and nurture the next generation of innovators in the industry.”
The CEO of Hennig Israel, Arik Sela, commenting on their contribution in founding the center, said, “Having been a significant participant in the diamond business for almost 130 years and consistently looking for new business opportunities, it was natural for Hennig to be a founding member of this new initiative. We are convinced the diamond industry can benefit from new technologies and applications for diamonds and that this innovation center has the right ingredients to succeed.”
Ernest & Young Israel, a Company which specializes in the establishment of technological incubators and the legal firm Amit, Pollak, Matalon & Co. with extensive experience in pairing Israeli technology companies and international investment funds, will serve as advisors to the project.