Mastercard launches innovation lab in Israel through new partnership

The new lab will be established in Be’er Sheva

Mastercard and Enel X

Mastercard launches innovation lab in Israel through new partnership. Source: unsplash.com

Mastercard partnered Italian technology solutions company Enel X to launch a new lab in Israel. They aim to advance innovations in fintech and cybersecurity spheres for the payments and energy ecosystem worldwide.

According to a statement, the lab will cooperate with startups to pilot and develop products and solutions. They will particularly focus on digital security, fintech platforms, digital authentication, and financial inclusion.

Today, as much as ever, organizations need to keep security at the forefront of all innovation. This new collaboration will allow us to draw from many partners and resources – including Israel’s renowned startup economy – to help bring innovations to market even faster and reduce the growing threat and cost of cyberattacks
Ajay Bhalla, president, Cyber & Intelligence for Mastercard

The lab is being established in collaboration with the Government of Israel, following a competitive tender launched by the Israel Innovation Authority (IIA), aimed to enhance the fintech and cyber sectors by evolving the country’s startup ecosystem. Besides, the new lab will obtain a 3-year license and nearly $3.7 million of public funding to cover the lab’s costs.

We’ve reported that Blackfinch Group has launched the #ISOLATIONINTERN platform in partnership with investment industry firms and universities. The initiative aims to supercharge early-stage companies and help keep this vital sector of the economy on track.

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