Rome, Tel Aviv, February 2017 – Enel and Brooks-Keret Financial Management have signed a Memorandum of Understanding (MoU) that will see the two companies work together to scout high-tech and start-up businesses working in Israel’s Silicon Wadi that will have the chance to work with Enel to develop their technologies while being supported by one of the country’s leading financial management company.
The MoU enables Enel to tap Brooks-Keret’s stable of over 300 high-tech companies and start-ups, expanding the pool of tech businesses available to bring into the Group’s universe. Enel will search for companies working on technologies relevant to its strategic priorities and help them to develop their solutions, potentially recruiting them subsequently as suppliers. Brooks-Keret meanwhile will have the chance to provide their tailored financial solutions to the start-ups Enel is already working with or will work with in the future.
Brooks-Keret has been a leading financial management company in Israel for over two decades, providing outsourced CFO services and customised financial solutions to hundreds of hi-tech and start-up companies from a broad range of sectors that include telecoms and networking, information and cyber security, and cloud computing. It helps fledgling companies with both overall financial management strategy and specific activities like bookkeeping, payroll and US accounting.
Israel is a focal point for tech innovation, and the MoU signed by Enel and Brooks-Keret comes after the launch in July of the Group’s first Innovation Hub in Tel Aviv. Each year the Tel Aviv Enel Innovation Hub aims to scout up to around 20 high-potential Israeli start-ups and offer them a dedicated scale up support program, as well as holding 8-10 bootcamps for which Enel delegations travel to Israel for two-three days to meet up to 25 selected start-ups.
The Tel Aviv Enel Innovation Hub has introduced the 50 most relevant, innovative and interesting start-ups to representatives from each of Enel’s Business Lines and Countries, already established its first partnership since setting up six months ago, with cybersecurity developer Aperio Systems operating at the Hub since December. Four other bootcamps, focusing on agritech, renewable energy, electric mobility and blockchain technologies, are scheduled for between now and April.