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Vast Data, one of Israel’s fastest-growing technology companies, is using proceeds from a recent secondary transaction to establish a NIS 3 million ($1M) scholarship fund for artificial intelligence and computer science students at the Technion – Israel Institute of Technology, Tel Aviv University, and the Open University.
The fund, established together with the Tmura Foundation, will be financed through options that Vast Data donated in its early years and that were exercised following the company’s recent secondary transaction at a $30 billion valuation. The scholarships will target students who meet academic, socioeconomic and social criteria, with the goal of expanding access to Israel’s future technology workforce.
Rather than directing the proceeds toward a broad charitable initiative, Vast Data requested that the entire contribution be dedicated to scholarships for students entering fields viewed as increasingly critical to Israel’s technology sector.