Israel works with neighbours for startup development

YERUSALEM, Nov 6 (TNA) – Israel’s startup development project with neighbouring countries will help counter extremism and improve the lives of people in the region, said chairman and founder of Israeli venture capital firm. Dr Erel Margalit founder of Jerusalem Venture Partners (JVP), venture capital firm said startups, funded by JVP changed the atmosphere in Israel to be engaged in innovation and played a vital role in changing life of people in the world. He said the idea to promote startup businesses in Israel was extended to cooperation with many countries in the region under the project called “Yalla” in Arabic language, which means “let’s go” to convey a message to young generation to go together. Young people can make change, stopping looking through a rifle scope but to join forces in creating innovation for farming, water and renewable energy. The JVP founder also said poverty gave chance to violent extremism intervention but prosperity would counter extremist ideology. Entrepreneurs should be a bridge, leading to economic development for hope and better living of people in the region. (TNA)