Ituran Location and Control Ltd. Launches DRIVE: The New Smart Mobility Innovation Center & Incubator; Appoints Three Members to Lead DRIVE Innovation Center
February 23, 2017 at 08:29 am EST
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Ituran Location and Control Ltd. announced the launch of the DRIVE innovation center in Tel Aviv to promote the development of cutting edge Smart Mobility technology. The innovation center is the first of its kind and will include a range of activities aimed at providing assistance to start-ups and entrepreneurs. These activities will include guidance in value proposition validation through the creation of meaningful long-term partnerships with leading mobility firms. The center incorporates a startup accelerator, advanced prototyping labs and a co-working space. The center is designed to support start-ups of all stages with guidance and expert advice. DRIVE's partners will actively engage with the startups by providing expertise, optional investments, and prototyping development lab opportunities that may evolve into further business relations. This joint work will enable the startups to receive accelerated validation of their technology and business model.
The company announced DRIVE will be led by founding partners Omer Shachar, Dr. Tal Cohen and Boaz Mamo. Mr. Shachar is an investment executive from the Mayer Group. Dr. Tal Cohen serves as adjunct associate professor at the Georgia Institute of Technology in Atlanta, and is an entrepreneur who has founded and invested in companies, now worth hundreds of millions of dollars. Mr. Mamo is a specialist in smart mobility entrepreneurship and founder of EcoMotion and Capsule, a smart mobility accelerator.
Ituran Location and Control Ltd. is a provider of location-based services, consisting of stolen vehicle recovery (SVR), fleet management services and other tracking services. The Company also provides wireless communication products used in connection with its location-based services and various other applications. Its operations consist of two segments: location-based services and wireless communications products. Its location-based services segment consists of its SVR and tracking services, fleet management and value-added services consisted of personal locater services and concierge services. Its wireless communications products segment consists of short and medium range two-way machine-to-machine wireless communications products that are used for various applications, including automatic vehicle location (AVL) and automatic vehicle identification. It primarily provides its services, as well as sells and leases its products in Israel, Brazil, Argentina and the United States.
Ituran Location and Control Ltd. Launches DRIVE: The New Smart Mobility Innovation Center & Incubator; Appoints Three Members to Lead DRIVE Innovation Center