The first official Czech-Israeli accelerator, supported by CITIF, Arieli Capital, and Tachles VC, is launching. CzechInvest will contribute to the entry fee for startups

Prague 25th June 2024 Expert mentoring, connections to the American and Israeli business ecosystems, a network of international investors, and practical steps for scaling beyond borders all of this will be available this year through the accelerator under the guidance of Tachles VC, the Czech Israeli Technology & Innovation Forum (CITIF), and Arieli Capital a multifaceted investment firm. The international program aims to help Czech startups internationalize through a connection to one of the world's leading tech ecosystems in Tel Aviv. Up to ten Czech startups can benefit from this program. The entry point into the program includes a strict selection process and a fee of twelve thousand dollars. Startups that successfully qualify can receive a contribution towards this fee from CzechInvest as part of the National Recovery Plan, but the application must be submitted by July 7, 2024.

The Czech-Israeli acceleration program will support ambitious Czech startups operating in the dual tech sector (dual-use goods and services) in their global expansion. Selected startups will participate in an intensive week-long acceleration in Israel, gaining access to Arieli Capital's Innovative k now-how in startup methodologies, business development, access to the American market, and investment opportunities. The week will conclude with a final presentation, from which the jury will select four startups - these will then receive an additional six weeks of support to implement the acquired knowledge into practice.

"After more than a year of preparation, we are pleased to offer Czech startups a top-notch acceleration program with an Israeli seal of quality. Our partnership with Arieli Capital, which successfully organizes similar programs in many other countries, guarantees relevance and quality. The focus of the first cohort on dual tech is no coincidence - the new geopolitical reality and Israeli expertise in defense represent a unique opportunity for Czech startups," said Ira Saul Rubenstein, Chairman and Co-founder of CITIF.

"We are excited about the opportunity to connect with the Czech Republic ecosystem and connect it to Arieli's international network, which encompasses broad innovation activities among governments, academia, and industry partners. We thank our Czech partners for the close collaboration. Together we are realizing human potential and building a better future through innovative practices that will impact future generations," adds Or Haviv, Partner & Head of Innovation.

The most promising ones can receive a contribution from CzechInvest.
To enter the exclusive program, young companies must first go through a selection process and then pay a fee of twelve thousand dollars (around 260,000 CZK). The criteria for selecting startups include primarily innovation, team experience, market potential, scalability, technology, impact, and investment relevance. The screening process involves application evaluations by professional teams from Arieli and CITIF, an internal committee with presentations from top startups, and a final committee with program partners. Based on their scores, the best startups will receive a participation agreement, which defines the requirements and obligations. A total of 8-10 startups will be selected for the program.

"We perceive the Czech-Israeli accelerator organized by CITIF and Arieli Capital as a project that is highly synergistic with our internationalization program, and we are pleased to join forces in this way," said Petr Kopeček, Director of the Startup Acceleration Department at CzechInvest.

The most promising startups can receive a contribution towards the entry fee from CzechInvest as part of the National Recovery Plan. Applications must be submitted between June 24 and July 7, 2024, through the official form on the CzechInvest website.

About Arieli Capital:

Arieli Capital is a multifaceted investment firm that is an active investor and partner in the next generation of technology companies. Arieli Capital continuously strives to identify and support companies, creating real impact while keeping financial returns as the primary objective. As a recognized global leader in innovation, Arieli is trusted by governments, academic and research institutions, multinational corporations and financial institutions. For more information, click here.

More about Tachles VC

Tachles VC is a venture capital fund primarily focused on investments in Israeli startups, specifically in the fields of cybersecurity, cloud infrastructure, and artificial intelligence. It was founded by long-time colleagues Karel Tušek and David Marek, together with their Israeli partners Sivan Kanev and Boris Chovnik, and their American partner Robin Bienfait. Over nine years of gaining investment experience in Israel, they have built a strong reputation and business network within the Israeli startup and investment community, giving them access to unique opportunities at the inception and early development stages. They view Israel, known as the Start-up Nation, as a significant inspiration and opportunity for the Czech economy. Therefore, they co-founded the Czech Israeli Technology & Innovation Forum (CITIF), which aims to become a catalyst for close collaboration between the Israeli startup ecosystem and Czech businesses, thereby fostering new innovations and increasing the competitiveness of the Czech Republic. For more information, click here.