DreamIt Ventures launches new incubator… in Israel

DreamIt Ventures, the Philadelphia-born accelerator and business incubator, is expanding overseas to Israel. Sort of. DreamIt will incorporate the Israeli startups in its New York (but not Philly) edition much like its partnerships with Startl in 2010 and Comcast Ventures in 2011.

From the release:

DreamIt Israel provides up to five Israeli startups access to the U.S. and other global markets as well as mentorship, guidance, a stipend of up to $25,000, and access to early stage capital.   DreamIt Israel is a 4-month accelerator program followed by 2 months of workspace. The first month will take place in Israel beginning on April 15. Participating companies will spend the next three months in New York City working alongside companies in the DreamIt NYC 2012 program, which runs from May 14 through August 17, 2012.

Companies will split time between the 67th Ward and Israel. As of now there are no plans to further expand the incubator, however we still have our eye on Austin.