29000
NGT - NEW GENERATION TECHNOLOGY
POB 2252, NAZARETH 16000 ISRAEL
TEL: 972-4-6564118; FAX: 972-4-6564129;
E-MAIL: ngt@ngtnazareth.com WEB: www.ngtnazareth.com
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GENERAL MANAGER
Mr. Yosi TurKaspa
Business Development Manager Mr. Nasri Said, Dipl.-Eng.
ORGANIZATION
NGT is a brand-new Private Technological Incubator, founded on
July 2002. It is located at Nazareth, in the southern part of
Galilee.
NGT acts as a commercial for-profit company and enjoys the
additional government support offered in preferred areas.
Consequently, the entrepreneur benefits from the following
advantages:
** Through NGT, an approved start-up company can obtain a total
budget of US$ 588,000.00, based on a governmental loan of up to
US$ 500,000.00 and supplementary financing, a minimum of 15% of
the approved budget, which can be partially or fully sourced from
NGT internal resources.
** There is no direct government involvement: the state does not
require reimbursement of its grant through royalties on sales by
the company. Instead, the state will be reimbursed by NGT for up
to the sum of its grant, within 6 years.
** Flexible equity ownership:
-- Between 30 to 70 percent - developer/entrepreneur
-- 5% operational shares - NGT
-- The number of shares to be owned by NGT (those to be bought
back by NGT from the government) are derived via a formula that
takes into consideration the amount of supplementary financing
and the number of developer/entrepreneur shares.
-- The remainder of the shares become to the provider of
supplementary financing - either NGT or any other third party, or
the developer/entrepreneur himself
** The start-up is free to recruit highly skilled employees,
since there is a high ceiling on the individual salaries that it
can offer.
FOUNDERS AND SPONSORS
NGT is the first technological incubator to be financed mostly by
Arab-Israeli businessmen, and it is located in the Arab town of
Nazareth. The NGT founders are six Arab businessmen, and Mr.
Davidi Gilo. The NGT chairman is Mr. Kayed Abu-Ayash from
Nazareth.