The FinSec Innovation Lab has announced a Call for Applications inviting Israeli fintech and cybersecurity startups to join its Lab. Awarded by the Israel Innovation Authority to Mastercard Europe and Enel X in May 2020, it has been established in Israel’s southern city of Be’er Sheva to support applications from the Proof of Concept stage. Overall, it is aimed at promoting the innovation of fintech and cybersecurity for payments and energy,
“The world is undergoing a profound digital transformation which requires innovative solutions to make life easier while ensuring information security and data protection for organizations, institutions, and private consumers,” said Sidney Gottesman, Director of FinSec Innovation Lab. “The Lab is designed to build relationships and collaborations with startups that are creating economic value and change paradigms by pushing the boundaries of innovation.”
The FinSec Innovation Lab has a three-year license from the Israel Innovation Authority, which will provide 13 million NIS ($3.9 million), and the Israel National Cyber Directorate, Israel Ministry of Finance, and the Financial CERT, who each support the initiative. Applicants who join the Lab will have access to the technological experience of Mastercard and Enel X, as well as advanced infrastructure, business, and technological support.
Mastercard is a global payment company operating in 210 countries and territories that help individuals, institutions, and governments through safe and smart transitions. Enel X develops energy products and digital solutions in cities, homes, industries, and electric mobility. It has116 MW of storage capacity installed worldwide and more than 170,000 public and private electrical vehicle charging points around the world.