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.