The Kusto Group and its company chairman Yerkin Tatishev have long held the philosophy of using innovation, collaboration and education to establish a framework for success and growth. The company’s participation in a new Israeli innovation incubator reflects its foundation's cornerstones and may potentially affect how we work and live.
Tambour, a renowned Israeli paint manufacturer, is an integral division of Kusto Group, a Singapore-based multi-sector conglomerate. Daniel Kunin, a Managing Director of Kusto Group, oversaw its acquisition in 2014. Kusto Group, through its Tambour division, joins Indian IT giant WIPRO and a series of Israeli companies including Keter Plastics, Klil, Trellidor and Flying Cargo to build a technology innovation incubator in the periphery of Israel.
Kusto Group, and its founder Yerkin Tatishev, are known for innovative ventures in oil and gas, agriculture, construction, and real estate. The vision behind the Israeli incubator initiative is to create a world-class leading technology and entrepreneurial center working in synergy with the already-active Galilee Accelerator in the region. The project will provide a framework so that new concepts can be developed, entrepreneurs are given critical resources, and additional employment opportunities are available in peripheral regions of Israel.
“Kusto Group’s investments in Israel through Tambour have already had a noticeable impact in many parts of the economy,” said Tambour Chairman Max Sartiev, praising the boosting effect the incubator has already had on the local economy. “By supporting start-ups via this incubator, Kusto is helping to provide more well-paid, highly skilled jobs in peripheral regions and support the entrepreneurship that will sustain lasting growth.”
The project will also be executed in collaboration with the Manufacturer’s Association of Israel, the Israel Innovation Authority, the Municipality of Karmiel and the Ministry of Economy and Industry. Kusto Group has a well-established approach of partnering with extraordinary businesses and this Israeli start-up incubator is another example of such an investment. The incubator will be an asset to each investing company, transforming the way they communicate, share resources, and improve technical advances, all while increasing social and human capital in the companies and the communities near and around the incubator.
Daniel Kunin described how Kusto’s investment in the Israeli innovation incubator fits the company’s broader investment approach.
“At Kusto, we see every day how new technologies are changing the game in industries across the board. By incubating these technologies and providing guidance, we can help the next generation of entrepreneurs realize the transformative potential of the Fourth Industrial Revolution. We’re expanding our investments in innovative technologies all over the world: The incubator in Karmiel is just the latest, exciting example.”
Kusto Group has an established history of partnering with exceptional businesses to support innovative technology and best practices in Tatishev’s native Kazakhstan and around the world. Kusto has been actively involved in modernizing the agriculture sector in Kazakhstan and has established a thriving agribusiness in Ukraine.
The company’s international operations also include supplying high-quality building materials to the booming Vietnamese construction industry. In addition, they have worked to bring groundbreaking engineering processes to the mining industry across Central Asia and Canada. Tatishev, who believes people are the strength of an organization, actively invests in the education of his employees; offering managerial and professional development training within the organization.
Israel has the ideal climate for such an approach to global startups and high-tech companies that develop innovative concepts into commercial products. Israel has been dubbed the ‘startup nation’ with more startups per capita than any other nation. The country’s culture and society value creativity, resourcefulness and ingenuity. Innovation has become an export giving a lucrative economic boon to this small Mediterranean country.
Israel also has a highly skilled workforce which gives the country an additional benefit of human capital. Dozens of innovation incubators have already been established across Israel impacting many sectors including technology, finance, operational and administrative support. The goal of these incubators is to provide startups that have developed innovative concepts with resources that will help them thrive financially and become viable on their own.
Winners of the competitive start-up incubator program will be awarded a grant of up to 500,000 shekels ($142,500 USD) per year during the concession period, and incubator companies will be eligible for a grant of up to a million shekels ($285,000 US).
The incubator initiative supported by Kusto Group has the potential to transform how technology is used in manufacturing and industry across the globe. The project is inspired by the Fourth Industrial Revolution, which explores artificial intelligence, virtual reality, nanotechnology, augmented reality, and the Internet of Things, and the application of these technologies to the manufacturing and industrial sector. Other Fourth Industrial Revolution areas to be explored include 3-D printing, biotechnology and quantum computing.
This Israeli incubator is unique in several ways. It is a collaboration of industry businesses, educational institutions and public government entities. Land for the facility has been provided by the Municipality of Karmiel. The ORT Braude College of Engineering will also participate in the incubator, providing members with access to technology labs and professional and technological guidance from its professors. Additionally, students attending the college will be able to take advantage of participation in incubator projects while gaining experience and earning credit towards their degree requirements.
Investment in the innovative incubator is another example of the Kusto Group’s commitment to embracing social capital, fostering its creativity and innovation potential. Groundbreaking technology development, along with supporting the educational growth and development of young people, is part and portion of Tatishev’s vision. Tambour and Kusto Group are proud to join this alliance of international and Israeli companies that are working to transform innovative ideas into reality.
“This effort is an example of the power of cooperation between industries, students, government entities, and startups,” says Sartiev. “Through my own experiences and in my work at the Kusto Group, I truly believe that teamwork and education are the most important elements in achieving success. Tambour and Kusto Group are proud to be members of this alliance, helping to transform innovative ideas into reality.”