Renault to open smart car incubator in Israel

The Globes business journal reports that Renault-Nissan won a government tender to found an incubator that would help fund startups in the smart car field.

The journal reports:

Renault-Nissan will found a technological innovation laboratory in Israel as an incubator for young companies developing smart car and shared transportation technologies. The automaker, one of the winners in the Israel Innovation Authority’s tender, will establish the incubator in Tel Aviv’s Kiryat Atidim.

Companies selected for the incubator will receive government funding of up to NIS 1 million at the stage of proving feasibility. The incubator is designed to connect companies having technologies and ideas in the sector with Renault-Nissan, currently the world’s largest automaker. In addition to close cooperation with the automaker’s international R&D laboratories, the developers will be able to assess and try out their ideas on real vehicles in the field provided by Renault-Nissan.