Elron Electronic Industries
Elron Headquarters in the Azrieli Towers in Tel Aviv
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| Public (: ELRN) | |
| Industry |
Medical technology, Telecommunications, Clean technology, Semiconductors, Information Technology |
| Founded | 1962 |
| Founder | Uzia Galil |
| Headquarters | Haifa, Israel |
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Key people
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Eduardo Elsztain (Chairman), Ari Bronshtein co-CEO, Zvika Slovin co-CEO |
| Website | www.elron.com |
Elron Electronic Industries is a technology holding company based in Tel Aviv Israel; since 1962 the company has been involved in setting up, funding and developing over 30 companies and is considered one of the foundation stones of the high-tech industry in Israel. The company's sectors of interest include: Clean technology, software, semiconductors, medical technology, telecommunications, defence and aerospace. Today, the combined annual revenues of the companies established by Elron are approximately $5 billion.
Elron was founded in 1962 by Uzia Galil, with the support of Dan Tolkowsky of the Discount Investment Corporation. Uzia Galil graduated from the Technion – Israel Institute of Technology in 1947, and in 1948 joined the Israel Navy as an officer responsible for maintaining its Radio systems. In 1952 Uzia was sent to study for a master's degree in Electrical Engineering at Purdue University in the United States. During his studies in the United States, he worked at Motorola's research lab and was part of a team that developed of one of the world's first colour televisions. But in 1954 he had to return to Israel to complete another 4 years of service in Navy, which financed his studies.
Uzia Galil short experience working for Motorola in the United States exposed him to the technology industry and he decided to establish Israel's first high tech Startup company. He started the company, while still serving in Navy, in a friend's (Benjamin Sandller) flat in Haifa, later joined by another friend (Gideon Kirshner), who was a teacher at the Haifa Technical High-School, and worked with them in his spare time. The company's first products were measurement instruments for medical and electronic applications. In 1958 Uzia left the Navy, however the company did not generate enough revenues and he got a job at the Physics laboratory of the Technion; while there Moshe Arens, who was Professor of Aeronautics at the time, introduced him to Dan Tolkowsky. Dan, who was fascinated by Uzia's ideas, managed to convince the board of Discount Investment Corporation to provide the capital required to properly fund the company. Elron was officially formed in 1962 with an initial capital of $US 160,000, and within 3 years generated annual revenues of $1 millions.
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