International

Israel Diamond exchange launches new Diamond Tech innovation centre

Diamond based crypto-currency firm, Carats.Io, will be the first to move into the centre

The Israel Diamond Exchange (IDE) has launched a new innovation centre, Diamond Tech, to host and support diamond related startup companies.

Located within the IDE complex, the centre will help IDE promote new technologies that will bring added value to the diamond industry as well as to other sectors. Carats.Io, the diamond based crypto-currency is the first company to move into the incubator.

Among the start-ups being considered are projects dealing with robotics, lasers and other advanced technologies for diamond manufacturing, virtual reality for innovative marketing platforms and more.

At the dedication ceremony IDE president Yoram Dvash, said: “This is something one can only dream about and we have been able to make it a reality. We are marrying the expertise and experience of the Israeli diamond industry with the originality and creativity of the start-up Nation. I believe that if the diamond industry wants to take off, this is the runway.”

IDI chairman Boaz Moldawsky, who also chairs the Innovation Center, added: “We are choosing the start-ups with great care, aided by the best advisers. We are not investing in technologies, but in people. The location of the center within the eco-system of the diamond exchange is a huge advantage for both sides.”

Dr. Ami Appelbaum, the chief scientist of the Israel Ministry of Economy and the head of the Innovation Authority, praised the new endeavor. He said: “The Innovation Center can be a game changer for the industry, a real revolution. The technologies developed here can return a large part of the diamond manufacturing to Israel.”

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Lewis Catchpole

Lewis is a multimedia journalist and a alumnus of the University of Sheffield. He is a keen reader, follower of all sports and an avid supporter of Manchester United, for better or for worse. If you have any news or feature ideas please do not hesitate to contact.

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