The Israel Diamond Exchange (IDE) is opening the Diamond Tech Innovation Center, "a technological incubator for Israeli and international diamond-related start-ups" in the initial stages of development. The driving ideas behind this initiative is to promote "new technologies for diamonds in the broadest sense, reaching beyond gems and jewelry." This includes the use of diamonds in industrial platforms, robotics, semi-conductors, medical technologies, space technology, as well as software, finance, and B2B and B2C marketing platforms.
IDE President Yoram Dvash said, “We made a strategic decision to establish Diamond Tech Innovation Center because we are convinced that the diamond industry must advance technologically. Since Israel is a world leader in technology – with over 1500 new start-ups established every year – we are in a perfect position to take the lead in this. We will harness the energy and creativity of the Start-Up Nation for the good of our industry. IDE is partnering with Sarine Technologies, a leading technological equipment developer for the diamond industry, and the Hennig Diamond group, which has an international investment arm specializing in diamond technologies. The Technion-Israel Institute of Technology has signed on as a strategic partner for research and development.