Intel is searching for ways to collaborate effectively with Israeli start-ups after a rocky start to the year in the Middle Eastern nation.
Intel Corporation has entered into a partnership arrangement with Tel-Aviv based fintech hub, The Floor, which will see a new hub built in Israel focusing on blockchain and biometric applications.
“Intel brings a powerful multi-disciplinary approach that could help Israel become a global capital in the field of fintech,” said The Floor co-founder, Gil Devora.
The partnership launch will continue to develop the relationship between technological innovation and fintech acumen, with Intel in a firm position to demonstrate and display its own technology in the hub.
The collaboration comes off the back of a period of uncertainty in Israel in regard to Intel’s involvement in the country’s financial sectors, with widespread layoffs to its Jerusalem manufacturing base earlier this year.
Intel has now strategized a further 1000 jobs at its latest facility in order to capitalise on Israel’s growing fintech prowess.