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New multinational hub seeks to foster smart-car, logistics Israeli startups

South Korea’s Hyundai, The Netherlands’ VDL Group and Israel’s Tadiran and Taavura-Livnat join forces to tap into new technologies including energy and smart industry

Shoshanna Solomon is The Times of Israel's Startups and Business reporter

Youngcho Chi, chief innovation officer Strategy and Technology at Hyundai Motors Group, speaking at The Fuel Choices and Smart Mobility Summit in Tel Aviv. Oct. 31, 2017 (Shoshanna Solomon/Times of Israel)
Youngcho Chi, chief innovation officer Strategy and Technology at Hyundai Motors Group, speaking at The Fuel Choices and Smart Mobility Summit in Tel Aviv. Oct. 31, 2017 (Shoshanna Solomon/Times of Israel)

A group of international and Israeli companies, including South Korea’s Hyundai Group, have set up a new technology hub that will focus on fostering startups in the automotive and mobility sectors as well as smart industry, energy and logistics.

The Quantum Hub, launched in Herzliya on Tuesday, was set up via the collaboration of Israel’s Taavura-Livnat Group together with Hyundai Group, The Netherlands VDL Group and Israel’s Tadiran Group. Taavura and Hyundai had agreed to collaborate on the hub already in 2019.

The aim of the hub is to support the growth of startups and connect them with the companies linked to the founders of the hub.

Taavura-Livnat Group, an Israeli road haulage and logistics group, VDL, Hyundai and Tadiran together hold stakes in hundreds of corporate companies in Israel and abroad that are looking to partners with startups to increase their efficiency and start new business activities. The hub will offer the startups the chance to start commercial partnerships with these firms and also pilot their technologies, and create long term strategic partnerships, the hub founders said in a statement.

The first program set up by the new hub is the Quantum SPARK, a 12-week program for selected startups, which will be matched with experienced mentors and experts, from CEO and senior directors in industrial companies to veteran entrepreneurs and industry leaders. “The program’s mission is to discover and nurture cutting-edge startups in non-mainstream industries,” the statement said.

The deadline to apply for the program is July 15.

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