Startup Nation UnitedInNegev is looking out for our Startup Nation’s ‘Day After’
Startup Nation United
InNegev is looking out for our Startup Nation’s ‘Day After’
InNegev’s initiative aims to aggregate and address those challenges faced by early-stage startups to ensure this war does not have long-term effects on our ecosystem
InNegev is an incubator governed by the Israel Innovation Authority. As their name suggests, they operate in the South of Israel, investing in climate tech startups that are positioned to expand in the southern region of Israel. The very DNA of InNegev is to help businesses, especially those in the South, so it’s little wonder that after the horrors of October 6th, InNegev has remained true to its purpose, doing all it can to help startups not only survive but thrive in this great time of need.
InNegev’s story is part of Startup Nation United, a series showcasing how individuals and organizations in the tech industry have united under a common vision to do their part during the ongoing war. The podcast is produced and moderated by Michael Matias and Yaffa Abadi, in collaboration with CTech, as a spin-off of the popular podcast series “20 Minutes Leaders”, also published in collaboration with CTech.
Venture Partner Karina Rubenstein, Community Manager Shir Levy, and VP Investments Amir Tzach walk us through how InNegev has been focused not only on helping their eleven portfolio companies but on being a funnel of support for all the startups facing the challenges brought on by the war.
After the initial shock of October 6th, InNegev started hearing from their founders who reached out with a problem: the founders themselves or one of their core employees had been recruited to reserves. While a larger company could navigate losing a portion of its workforce, at this earliest stage, it presents a real threat to the health of the company.
Though this issue arose from their portfolio companies, InNegev understood this would become a collective problem with early startups across the board as Shir says, “We realized we have to expand our help to every entrepreneur in the ecosystem to make sure all startups maintain their momentum after the war.” And that is what they did.
Their first point of action was creating a forum open to all startups to map out their needs and challenges. This forum was shared through relevant channels such as high-tech WhatsApp groups and escalated rapidly until more than 200 startups reached out for help.
As global concern has grown over investing in our region, a primary challenge facing young startups is funding. But their other needs range from a lack of human capital due to reserves, office infrastructure, and guidance to navigate these particularly choppy times. With its simple and intuitive application form, InNegev has a clear view of the most pressing challenges.
The next step of their initiative is providing one-on-one guidance and mentorship for each startup that has turned to them with a challenge. This volunteer-based offering ensures that every entrepreneur has someone to provide support, someone who is already versed in their startup abilities, position, and pressing needs. These mentors will remain with their startups throughout the war.
InNegev has an understanding of the issues at hand and has mapped out the companies and their challenges. While they currently offer mentorship, they are now in their recruitment phase. As Karina says, “We want to have an impact on a national level and for this, we need help and assistance beyond only ourselves.” In this vain, the InNegev team is actively seeking partnerships and collaborators who can take their offering a step further to directly address the range of needs and see to it that startups do not lose their momentum due to factors outside their control.
InNegev has assumed responsibility not only for their portfolio companies but for all startups in the Israeli tech ecosystem to ensure our Startup Nation is still a Startup Nation beyond this war. Their mission is a testament to the unified sense of responsibility this period has brought to our nation.
As Amir eloquently puts it, “At the end of the day, we are ecosystem players. And if we're looking at the macro level, we are looking at the ‘day after’, what it will be like beyond the war. We want people to still have companies to go back to and jobs to get back to.”
About:
Yaffa Abadi is the founder and CEO of Abadi Brands, a boutique consultancy specializing in personal branding and thought leadership for investors.
Michael Matias, Forbes 30 Under 30, is the CEO of Clarity, a startup that preserves trust in digital media by fighting deepfakes, and an active angel investor in the AI and Cyber domain.
