Release Details

Bezeq launches new business enterprise channel: "Havzaka" Unique employee incubator in Israel

January 15, 2001
Bezeq launches new business enterprise channel: "Havzaka" Unique
employee incubator in Israel
January 15, 2001

Bezeq has announced the establishment of a new enterprise for
technology initiatives and development, under the name
"HAVZAKA".

The enterprise, the only one of its kind in Israel, is designed to
encourage initiatives by Bezeq employees, and is yet another layer in
the combined activities of the company in venture capital and in
employee development and fostering.

Havzaka will offer company employees who wish to develop
telecommunications and other high-tech ideas, preliminary advice and
financing for a number of months, which will be devoted to examining
the technological and business feasibility of the idea, while
reserving the employees position and function in the company and
preserving the rights he has accumulated during his employment.

If it is estimated, at the end of the investigation period, that the
idea has business potential, the employer and Bezeq will establish a
joint company (start-up), in which Bezeq will be allotted 25% of the
share capital in consideration of its preliminary investment and
assistance; the employee will hold the other 75%. Upon its
establishment, all the intellectual property rights of the specific
approved enterprise will be vested in the start-up.

Havzaka is a joint initiative of the Manager Development department
at Bezeq, headed by Ehud Mezuman, and the Business Development
division, headed by Michal Even-Chen.

The CEO of Bezeq, Ilan Biran, said that the Havzaka initiative is yet
another way of fostering employees, who are among the best and the
brightest of Israel's communications and technology personnel, and
their striving for excellence. "Bezeq will be the main beneficiary of
the channel it has developed for its employees for their personal and
professional advancement and development, a channel in which the sole
criterion for success is excellence," said Biran.
Bezeq's Vice President for Managerial Resources, Gideon Kadussi, said
that the company has been working on the project for several months,
and that its establishment necessitated solving problems in a series
of organizational questions. "The Managerial Resources division
consistently directs its attention to the development and fostering of
quality personnel, and this step is part of an overall plan in this
area. Its aim is to place emphasis on the attractiveness of the
company for quality professional employees, which is part of the
strategic concept in managing the company's human resources."

The Vice President for Business Development, Michal Even-Chen, noted
that Havzaka is an additional layer in the company's venture capital
activities, which includes investment in venture capital funds and
direct investments in start-ups. "From the company's experience in
venture capital investments, we have learned that the know-how of the
technology experts at Bezeq in filtering and assessing the
technological and business applicability of ideas in the
telecommunications sector, is second to none in the market," said
Even-Chen.

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