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The recent purchase of the Israeli autonomous vehicle technology firm Mobileye by the Intel Corp. for $15.3 billion puts a spotlight on the rapid rise of this innovative field.
The deal has been the biggest ever in the history of Israel’s high-tech industry. The combined global autonomous driving organization, which will consist of Mobileye and Intel’s Automated Driving Group, will be headquartered in Israel.
While the autonomous vehicle has been reaching the civilian market in a slow pace, in the military sector, various models of autonomous vehicles are already operational and active daily. Israel has been leading also in this field.
Mobileye offers a wide array of automated car technologies aimed at decreasing car accidents, including cameras, sensor chips, in-car networking, roadway mapping, machine learning, cloud software and data fusion and management.
According to Mobileye’s press release, the deal brings together the company’s leading computer vision expertise with Intel’s high-performance computing and connectivity expertise to create automated driving solutions from cloud to car.
Following the move, Intel, the US semiconductor giant, will be able to accelerate innovation for automakers and capture fast-growing market opportunity, estimated to be up to $70 billion by 2030. So far, Intel has not been a significant player in this field.
As cars progress from assisted driving to fully autonomous, they are increasingly becoming data centers on wheels. Intel expects that by 2020, autonomous vehicles will generate 4,000 GB of data per day, which plays to Intel’s strengths in high-performance computing and network connectivity.
The exceptional acquisition is expected to accelerate the rising autonomous vehicle market and fuel the development of more self-driving technologies.
Innovation and entrepreneurship in the autonomous vehicle field will be one of the major spheres of interest in the upcoming Startup Festival and Startup Live competition on March 29th, 2017.
During the event, organized by iHLS, dozens of startups will get the opportunity to showcase their ideas on stage and connect with entrepreneurs, investors, media channels, bloggers and industry leaders from Israel and abroad.
The event will include pitches along all day, expert keynotes, “speed dating” between entrepreneurs and potential investors, as well as an accelerator and startup avenue.
During the event, 10 startups will be selected to compete for a place at the international startup competition Startup Live.
The winning startup will get two flight tickets, accommodation, and entrance to the annual exclusive Pioneers Festival in Vienna, participation in the global Pioneers competition as well as the opportunity to take part in a European incubation program which offers exposure to the European market.