PresenTense

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The Citi Foundation has invested $500,000 in the Israeli non-profit organization PresenTense, bringing their total investment to $2 million. The investment aims to support social entrepreneurship, new business, and technology in Israels minority sectors. Over 2,500 young adults will participate in PresenTenses training programs, including an accelerator program and courses for small business owners. The grant will be used to build local ecosystems in South Tel Aviv, supporting the Arab population and empowering young people to integrate into Israels Startup Nation activities. The Citi Foundations continued support allows for the expansion of activities that promote social change and reduce socio-economic disparities. Citi Israel CCO Neil Corney emphasizes the power of entrepreneurship to bridge gaps and encourage inclusion of marginalized groups. The Citi Foundation has committed $100 million over three years to help marginalized communities enter the workforce.

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PresenTense has launched a new startup accelerator in Haifa called LEAP Haifa, which aims to assist Arab entrepreneurs. The program targets startups that have completed Series A financing, developed a prototype product, and/or received funding from the Israel Innovation Authority. The program will last four months and each startup must have at least one Arab entrepreneur. The first program of LEAP Haifa has five startups participating, including AgRobic, HealthyMize, Innosphere, MindoLife, and BambooBike. PresenTense aims to provide comprehensive support for entrepreneurs from both a business and emotional perspective.

growth-positive

The Citi Foundation will invest approximately NIS 1.5 million in PresenTense Israel, a company that encourages social entrepreneurship, business, and technology among Israels minority sectors. The investment will fund PresenTenses programs in Haifa and Jaffa, as well as additional work in Baka al-Gharbiya. The goal of these programs is to make the start-up nation more accessible to Israels Arab minority. The grant will allow PresenTense to bring more Arab entrepreneurs into its programs and promote Israeli-Arab entrepreneurship. The donation also includes Citibank Israel CEO Neil Corney joining PresenTenses board.

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The fourth Jerusalem Launch Night by PresenTense, a community that trains social entrepreneurs, brought together 15 social entrepreneurs and a group of investors. The entrepreneurs pitched their community-based projects, which ranged from education to peace and tolerance initiatives. More than 100 entrepreneurs had applied for the most-recent six-month fellowship program, but only 15 were admitted. The fellowship provides the entrepreneurs with the tools they need to mentor and coach. Some of the projects included an integration program for autistic children, a project to honor the elderly population by recording their personal stories, and initiatives to reach out to kids-at-risk through environmental farming and performance arts.