At age 71, former IDF chief Ya’alon joins the business world.

Former IDF chief of staff and politician Moshe (Boogie) Ya’alon is entering the private sector. Ya’alon will lead Synaptech, a new Israeli-owned venture capital fund to be established in the United Arab Emirates.

Synaptech, founded by the Avnon Group and strategic partners from the Gulf region, will invest in some 20 startups with the aim of bringing the spirit of the Israeli emerging nation to the Emirates and harnessing the business potential in the defense industry. between the two sides.

The fund focuses on early-stage startups that provide innovative technologies in various fields, such as smart cities, public safety, cybersecurity, fintech, and insurance technologies, with the ability to quickly transform from theory to proven technology.

Together with the fund, the Avnon Group and its partners will establish an innovation center to help companies from the Gulf countries cooperate on product development in Israeli startups.

Ya’alon, 71, served more than 30 years in the IDF and served as Chief of Staff from 2002 to 2005. After that, he worked with various think tanks before joining the Likud party in 2008. He has been deputy prime minister. minister minister, minister of defense, minister of strategic affairs and member of the security cabinet.

Former Israeli Defense Minister Moshe Yaalon speaks at the Munich Security Conference in Munich, Germany, on February 14, 2016 (credit: REUTERS)

“The Abraham agreements have opened the door for Israel and the United Arab Emirates for strategic cooperation that will affect the two countries for many years to come,” Ya’alon said. “As part of the collaboration we will create at Synaptech, we will bring the spirit of the startup Nation and the most advanced technologies we have to offer to the Gulf states. At the UAE Innovation Center, we will enable Israeli technology companies to hire investors and develop its products according to market demands, in collaboration with its future customers in the Gulf. We believe that in a short time, Synaptech will become a symbol of peace and economic cooperation between Israel and the United Arab Emirates. “



Reference-www.jpost.com

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