Google announced today, Wednesday, that it will invest eight million dollars to support Israeli technology companies and Palestinian companies due to the financing needs of small businesses during the conflict between Israel and the Hamas movement. Google, owned by Alphabet, stated that it will support Israeli startups in the field of artificial intelligence with four million dollars and allocate a similar amount to Palestinian companies to help them continue operations.
In a statement, Google said, "In the current situation, a considerable number of startups in Israel are struggling to raise capital from investors and urgently need a financial bridge to continue operating." It reported that it has offered to help maximize the chances of success for about 20 startups in AI solutions and services.
Google will provide loans and grants to 1,000 small Palestinian businesses in partnership with local and global non-profit organizations. It will also offer seed funding grants to 50 tech startups in Palestinian areas. The hope is to help safeguard a total of 4,500 jobs and create new ones for Palestinians. Google has also donated millions of dollars to Israeli emergency efforts and to support humanitarian relief in Gaza.
