American Jewish billionaire Paul Singer has established a non-profit to promote Israel's high-tech industry in a bid to lure international investors and counter the anti-Israel boycott movement, Bloomberg reported.
Founder and CEO of the hedge fund Elliott Management Corporation, Singer has long been involved in philanthropical ventures. He invested some $20 million in the foundation to be called Start-Up Nation Central.
The name is a nod to the 2009 bestseller "Start-Up Nation," which traced a history of Israel's booming high-tech industry
Dan Senor, co-author of that book, has also joined Singer in the venture. He says the foundation's key goal is to strengthen Israel's economy and allow people to get to know the Jewish state outside of the Israel-Palestinian conflict.
“One could make the argument that the ultimate antidote to delegitimization, isolation, and divestment is legitimization, integration, and investment,” Senor said.
Start-Up Nation Central will be headed by Eugene Kandel, an Israeli economist who until recently served as the head of the Israeli National Economic Council under Prime Minister Binyamin Netanyahu.
“We want to help advance projects where one company or one government ministry wouldn’t necessarily have the scope or vision to execute on that,” Kandel told Bloomberg.