Suche

Bosch establishes research office in Tel Aviv

Pioneering spirit and world-class universities offer an ideal environment

  • Focus on collaboration with scientific institutions and start-ups in fields such as machine learning, robotics, cybersecurity, connectivity, and IoT
  • Denner: “In per capita terms, no other country is as innovative as Israel, and few cities can match Tel Aviv for the number of start-ups set up there”
  • Robert Bosch Venture Capital office in Tel Aviv provides capital to start-ups from the technology industry
  • Bosch products have been available in the Israeli market since 1965

Stuttgart and Tel Aviv – First Silicon Valley, now Silicon Wadi: The Bosch Group wants to step up its operations in Israel. The supplier of technology and services recently established a research and technology office in Tel Aviv, the leading start-up metropolis. Its associates aim to work more closely with scientific institutions and universities and, at an early stage, to identify innovative start-ups working in fields such as machine learning (deep learning), robotics, cybersecurity, connectivity, and the internet of things (IoT).

There are thousands of start-ups in Israel, most of them in Tel Aviv and its environs. With more than 400,000 inhabitants, Israel's second largest city is also the country's business and economic hub. Many companies and research institutes have offices there. “Pioneering spirit, world-class universities, and creative ideas – they're all here. It's just the right environment for groundbreaking innovations, and thus for Bosch as well,” says the Bosch CEO Denner, who is currently on a multi-day business trip to Israel. “The country has a lot of scientific and technological potential in many areas that are important for our company's future, and we want to take advantage of that.”

Denner is especially enthusiastic about the innovative strength of this small country with its roughly nine million inhabitants. “Israel is a highly developed business location. Relative to its population, no other country is as innovative. Few cities can match Tel Aviv for the number of start-ups set up there. Lots of things are possible here,” Denner says. He adds that he is especially curious to get to know the start-up scene in Tel Aviv, which he believes will be a source of new inspiration. He is also looking forward to meeting with leading research institutes, and discussing possible alliances. His agenda includes meetings with various start-ups and a visit to theWeizmann Institute of Science, which carries out basic scientific research in Rechovot, south of Tel Aviv. The institute is one of the world's leading interdisciplinary research centers. Denner will also be meeting with representatives of theTechnion – Israel Institute of Technology. Founded in 1912, the Technion is the country's oldest university. It is located in Haifa, Israel's third largest city.

Bosch is investing in start-ups
Robert Bosch Venture Capital GmbH (RBVC) also has an office in Tel Aviv. The company provides capital to start-ups from the technology sector, whether in the form of direct investment or indirectly via investment funds. Based in Stuttgart, RBVC has made 420 million euros available for start-ups. Currently, the Bosch Group's venture capital subsidiary has investments in some 30 companies worldwide, five of them Israeli start-ups. “For us, RBVC is an early warning system. It prevents us from being taken unawares by new, groundbreaking technologies that can completely disrupt a market,” Denner says. By investing in promising start-ups, RBVC gives Bosch early access to disruptive innovations. Through open innovation, it fosters collaboration between the company and start-ups.

Israel as an attractive market for Bosch
During his Israel trip, Denner will also be meeting with Bosch's long-standing sales partner Ledico, which has been marketing the company's products in the country since 1965. “Israel is also a very attractive market for our products. Thanks not least to open trade and its innovative start-up scene, the market is developing dynamically,” Denner says. He adds that the country's per capita gross domestic product (GDP) is among the highest in the region, and that its population is young, with an average age of 30. A strong middle class, high purchasing power, and a high level of education also play a role in Israel's positive development. Last year, Bosch generated sales of more than 120 million euros in Israel, with prospects for further growth in the years ahead.

Contact person for press inquiries:
Melita Delic
Phone: +49 711 811-48619

Tags: Tel, Tel Aviv, Stuttgart, Aviv, Israel

About Bosch

The Bosch Group is a leading global supplier of technology and services. It employs roughly 410,000 associates worldwide (as of December 31, 2018). The company generated sales of 78.5 billion euros in 2018. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected manufacturing. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 460 subsidiary and regional companies in over 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. At nearly 130 locations across the globe, Bosch employs some 68,700 associates in research and development.

The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant upfront investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.

Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com, www.twitter.com/BoschPresse.

Still looking for something?