ABOUT
FinSec Innovation Lab was established in 2020 by Mastercard Ireland and Enel X to advance innovations in Israel in financial technology and cybersecurity for the payments and energy ecosystem globally.
The lab will partner with Israeli startup companies to test and develop products and solutions, with a particular focus on cyber security, fintech platforms, transaction detection, authentication, digital security, and financial inclusion.
Project Companies
Mastercard Ireland and Enel X were chosen by the Government of Israel, following a competitive tender launched by the Israel Innovation Authority (IIA), which aimed to advance innovations within the fintech and cyber sectors by accelerating growth of the country’s start-up ecosystem.
The lab combines the strength of Israel’s start-up economy with the support of the lab’s technical infrastructure, knowledge and expertise.
The lab is located in the southern city of Be’er Sheva, a city designated by the Israeli government as the cyber and fintech capital of the world and home to many cyber R&D centers of top global technology companies.
The lab complements Mastercard Europe’s Israeli headquarters in Tel Aviv, its award-winning global start-up engagement program Start Path, and its eight global technology centers in Arlington, Dublin, New York, Pune, St. Louis, Sydney, Vadodora and Vancouver. The lab builds on Mastercard and Enel’s record of collaboration in areas including financial inclusion products for the unbanked and digital wallet payments for electric vehicle charging stations.
Enel opened its first Innovation Hub in Tel Aviv in 2016 and since then has collaborated with local start-ups in fields such as the Internet of Things, cybersecurity, e-mobility, energy storage and many more. In addition, Enel’s Infralab, an innovation lab dedicated to digitalization of infrastructure businesses, in three years of operation invested in 10 lab companies and collaborated with additional 6 startups.
Mastercard is a global technology group of companies in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships, and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
Enel X is part of the Enel Group, a global leader in the service sector, and is dedicated to the development of high-added-value products and services in industries where energy has the greatest potential for transformation.
Through a flexible platform that is open to digitalization, sustainability and innovation, Enel X creates an ecosystem of solutions that transform energy into new opportunities in various sectors: electric mobility, public and private energy efficiency, artificial intelligence and data analysis services, energy consulting and management, and financial services.
Enel X supports cities, businesses, and individuals in speeding up their adaptation to a constantly evolving world, turning complex technologies into simple, accessible, and effective solutions.
Enel X: an energy partner for everyone, everywhere.
Enel embraced the open innovation model to help guide the transformation of the energy, mobility, and financial sector to make it more innovative, efficient, and reliable, developing new products and services for our clients.
Through our crowdsourcing platform, Open Innovability, and our international network of Innovation Hubs in the world’s leading centers for innovation, we have been able to engage and work with the best startups and the most innovative SMEs worldwide. We are offering our expertise, opening the doors of our laboratories, and guaranteeing the resources required to develop better solutions in a fast way.
In four years, we’ve selected more than 8000 startups, activated 300 projects, and scaled up more than 60. In addition, through our Israeli Innovation Hub and Lab, we scouted more than 700 startups and started 38 projects.
Mastercard Ireland and Enel X were chosen by the Government of Israel, following a competitive tender launched by the Israel Innovation Authority (IIA), which aimed to advance innovations within the fintech and cyber sectors by accelerating growth of the country’s start-up ecosystem.
The lab combines the strength of Israel’s start-up economy with the support of the lab’s technical infrastructure, knowledge and expertise.
The lab is located in the southern city of Be’er Sheva, a city designated by the Israeli government as the cyber and fintech capital of the world and home to many cyber R&D centers of top global technology companies.
The lab complements Mastercard Europe’s Israeli headquarters in Tel Aviv, its award-winning global start-up engagement program Start Path, and its eight global technology centers in Arlington, Dublin, New York, Pune, St. Louis, Sydney, Vadodora and Vancouver. The lab builds on Mastercard and Enel’s record of collaboration in areas including financial inclusion products for the unbanked and digital wallet payments for electric vehicle charging stations.
Enel opened its first Innovation Hub in Tel Aviv in 2016 and since then has collaborated with local start-ups in fields such as the Internet of Things, cybersecurity, e-mobility, energy storage and many more. In addition, Enel’s Infralab, an innovation lab dedicated to digitalization of infrastructure businesses, in three years of operation invested in 10 lab companies and collaborated with additional 6 startups.