Enel X and MasterCard join forces
About the Lab
The new lab gives us the unique opportunity to work with Israeli start-ups to bring innovative financial technologies to our millions of customers worldwide. By joining forces with an important partner like Mastercard, we will support these start-ups to develop and roll out best-in-class solutions in the fintech and cybersecurity sectors.
Enel X CEO
The MasterCard strategy
Today, as much as ever, organizations need to keep security at the forefront of all innovation. This new collaboration will allow us to draw from many partners and resources – including Israel’s renowned start-up economy – to help bring innovations to market even faster and reduce the growing threat and cost of cyberattacks.
President, Cyber & Intelligence for Mastercard
Enel innovation in Israel
Enel opened its first innovation hub in Tel Aviv in 2016 and since then has collaborated with 35 startups in a variety of fields including the Internet of Things, cybersecurity, energy storage and e-mobility. The Israeli hub is part of a network of 10 such initiatives that Enel has globally, including in Brazil, Chile, Italy, Russia, Spain and the US. The investment in the new lab comes after Enel won a tender in 2018 to establish Infralab, a Haifa-based innovation lab focusing on the digitalization of infrastructure businesses. There are currently more than six lab companies and eight collaborations with startups.
The Israel Innovation Authority, or IIA, asked companies to bid for the Finsec Innovation Lab project, which was established under its Innovation Labs Program. The Program is run in collaboration with the Ministry of Finance and the Prime Minister’s Office – National Cyber Directorate.