Pitango, Genesis partners launch TA start-up space

SOSA is a meeting place for the high-tech industry and a breeding ground for entrepreneurs.

Today, on the corner of Bar Yohai and Schocken streets in south Tel Aviv, a new space for start ups and high tech was launched under the name SOSA, standing for South of Salame (Salame Street is generally thought of as dividing the north and the south of the city). The 1,200 square meter space, over two main floors and the roof, is meant as a permanent meeting place for entrepreneurs, investors, strategic partners, and service providers such as accountants and lawyers, as well as representatives of international companies visiting Israel.

The SOSA space was set up on the site of a disused factory, sewing shop, and carpenter's shop, and was designed and renovated over a two-year period. The initiative came from, among others, Pitango Venture Partners managing general partner Rami Beracha and Genesis Partners general partner Jonathan Saacks, who were joined by Barak Pridor, a high tech entrepreneur and manager, alongside other prominent players in the industry.

Twelve Israeli start-up companies currently reside in the space, managed by Tom Ginossar, in closed rooms that give onto shared work areas, meeting rooms, and a bar. The space can accommodate up to 30 companies. Selection is carried out by the SOSA partners.

The idea behind SOSA is to create continual interaction and dialogue between all the various circles that make up the Israel high-tech industry, to encourage mutual support. Start-up companies housed there can benefit from access to senior people in the industry, who for their part can benefit from exposure to young innovators and entrepreneurs.

"Over the years, we have learned that big things can spring from chance meetings," says Beracha, "At SOSA, meetings like that happen all the time in an environment that supports the growth of ideas into successful enterprises. At SOSA, there is daily contact between a group of entrepreneurs and prominent people in the local and global high-tech industries, with the aim of forming a broad and influential community."

Among the strategic partners that have joined up with SOSA are accounting firm Ernst & Young, lawyers Yigal Arnon & Co., Brooks Keret Financial Services, PayPal, the Zell Entrepreneurship Program at IDC Herzliya, Bank Leumi unit Leumi Tech, Microsoft Ventures, SAP, and others.

Published by Globes [online], Israel business news - www.globes-online.com - on May 26, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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