Named Diamond Tech, the centre will provide a home and financial support for start-ups in their initial stages of development.
Diamond Tech will promote new technologies for diamonds in the broadest sense. This includes industrial platforms, robotics, semi-conductors, medical technologies, space technology, software, finance, and B2B and B2C marketing platforms.
IDE is partnering with Sarine, the Israel-based world leader in technologies for the diamond industry and the Hennig Diamond group, which has an international investment arm specialising in diamond technologies. The Technion-Israel Institute of Technology has signed on as a strategic partner for research and development.
IDE President Yoram Dvash said, “We made a strategic decision to establish Diamond Tech Innovation Center because we are convinced that the diamond industry must advance technologically. Israel is a world leader in technology – with over 1500 new start-ups established every year.
“We will harness the energy and creativity of the Start-Up Nation for the good of our industry. The Israel Diamond Exchange is committed to ensuring the success of these start-ups and their contribution to the diamond industry.”
Sarine CEO David Block said, “As the global pioneer in diamond technology, Sarine is excited to be a part of this important new initiative that will be instrumental in advancing Israeli diamond-based technological solutions. As partners in this venture, Sarine is proud to support and nurture the next generation of innovators in the industry.”
Hennig Israel CEO Arik Sela said, “Having been a significant participant in the diamond business for almost 130 years and consistently looking for new business opportunities, it was natural for Hennig to be a founding member of this new initiative.
“We are convinced the diamond industry can benefit from new technologies and applications for diamonds and that this innovation center has the right ingredients to succeed.”
International organisations Brinks Global Services, CIBJO – The World Jewellery Confederation and Pantheon Pacific Group from China have expressed support for the project.