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IDE opens Diamond Tech Innovation Center
It joins the Start-Up Nation
By: Diamond World News Service
Jun 20 2017 8:43AM
Reference: 15305  

The Israel Diamond Exchange (IDE) joins the "Start-Up Nation" with the opening of Diamond Tech Innovation Center – a technological incubator for Israeli and international diamond-related start-ups. Diamond Tech will provide a home and financial support for start-ups that are in the initial stages of development.

To establish this Innovation Center, IDE is partnering with Sarine, and the Hennig Diamond group. The Technion-Israel Institute of Technology has signed on as a strategic partner for research and development. The Innovation Center is currently applying for official recognition and support from the Israel Innovation Authority, which funds the establishment of new technological centers and start-ups.

Through this initiative IDE plans to promote new technologies for diamonds in the broadest sense, reaching beyond gems and jewelry. This includes the use of diamonds in industrial platforms, robotics, semi-conductors, medical technologies, space technology, as well as software, finance, and B2B and B2C marketing platforms.

IDE President Yoram Dvash said, "We made a strategic decision to establish Diamond Tech Innovation Center because we are convinced that the diamond industry must advance technologically. We will harness the energy and creativity of the Start-Up Nation for the good of our industry. The Israel Diamond Exchange will invest all of its resources to ensure the success of these start-ups and their contribution to the diamond industry."

Sarine CEO David Block said, “As partners in this venture, Sarine is proud to support and nurture the next generation of innovators in the industry."

Hennig Israel CEO Arik Sela said: “We are convinced the diamond industry can benefit from new technologies and applications for diamonds and that this innovation center has the right ingredients to succeed.”

Serving as advisors to the project are Ernest & Young Israel, which specializes in the establishment of technological incubators and the legal firm Amit, Pollak, Matalon & Co., which works extensively in pairing Israeli technology companies and international investment funds.

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