Forbes Covers Finistere’s Israeli Incubator
From the article:
Last month, the Israel Innovation Authority selected the Sparks Foodtech Consortium as the winner of its tender to establish a Foodtech innovation incubator in the small town of Kiryat Shmona in northern Israel, near the border with Lebanon. The consortium includes Tnuva and Tempo, two of Israel’s large and established food and beverage companies, US-based Agtech and Foodtech investor Finistere Ventures, and OurCrowd. Together, they plan to invest up to $100 million in forty Foodtech startups over the next 8 years.
This new attraction for entrepreneurs, corporations, and investors is open for business. “We already have a CEO, CTO, and chief business development officer at the incubator,” says Medved. He explains the role of companies such as Pepsi and Heineken that are also working with the consortium: “They keep you focused, they know a lot about the food business, they want to be agents of change. It’s particularly important with incubators. Getting mentoring and help from VCs and big players in the food industry is a big advantage.”