SAN FRANCISCO–Global venture capital firm 500 Global and Ashdod Port Company (“Ashdod Port”), a leading port in Israel, have joined forces to launch the inaugural cohort of the Ashdod Port Accelerator by 500 Global.
“ said Shiko Zana, CEO of the Ashdod Port Board of Directors. ”
Ashdod Port and 500 Global will select up to 14 Israeli startups for the accelerator program, which helps startups quickly test and validate partnership opportunities with Ashdod Port through an accelerated proof of concept over the course of five to six months.
For this first cohort, Ashdod Port is selecting startups with solutions in energy, seaport operations, logistics, and shipping. They will benefit from 12 weeks of masterclasses and coaching from 500 Global’s international network of mentors, and receive a full array of support and resources from the Port, including testing space for their products.
“Unlike traditional accelerator programs that focus on scaling and growth education, a startup that is selected for the Ashdod Port Accelerator by 500 Global will have tangible opportunities to dive straight into Proof of Concept and is on a fast-track to pilots, partnerships and integration opportunities with Ashdod Port. We are excited to be able to help startups in the maritime space expand and grow with an innovative partner,” said Ee Ling Lim, Executive Director of Global Programs, 500 Global.
“This past year demonstrated that the world of shipping and marine routes are important to the proper function of the global economy, when an estimated 90% of goods are transported by sea. We are breaking into a “blue ocean” that appears eager to absorb technology, and hope that we can bring the good news to other ports in the world. I congratulate 500 Global on their win and am delighted at this opportunity to work with them, and to help drive innovation in the marine world,” said Shiko Zana, CEO of the Ashdod Port Board of Directors.
