Spain Looks to Boost FinTech Industry with Israeli Partnership

Spanish authorities announced the launch of a new program aimed at strengthening the country’s financial technology industry on Thursday evening.

Called Desafia Tel Aviv, the new partnership will give executives from Spanish companies the chance to spend two weeks working with financial technology companies in Israel.

Two governmental authorities in Spain are going to be launching the program.

ICEX, an organization aimed at promoting Spanish businesses abroad, Red.es, a government organization aimed at bolstering Spain’s digital economy, have given their support to the new initiative.

ICEX and Red.es are launching Desafia Tel Aviv in conjunction with The Floor, a platform based in Tel Aviv, that aims to source and develop technologies for the financial services industry.

Start in Israel, grow in Hong Kong

Alongside the fortnight spent in Israel, Spanish participants in the program will also visit Hong Kong for a week.

Israel and Hong Kong have existing, bilateral research and development agreements in the technology arena, with governments in both jurisdictions providing funding for technology companies working together.

For Spanish companies taking part in Desafia Tel Aviv, the segment of the program based in Hong Kong will follow on from the part that took place in Israel.

Executives journeying to the Middle East will get an idea of how to start and build a successful technology company.

When they go to Hong Kong, the focus of the program will be on scaling a business and expanding into Asian markets.

The program will begin in Tel Aviv in early June, with applications open until May 17th. After the trip to Israel, the second part of the program in Hong Kong will take place in September.