Avodot LeHaredim

IVN and Bank Mizrahi-Tefahot embarked on a joint Call for Candidates to identify and select seed-stage social businesses. The goal of this partnership is two-fold: (i) to develop and grow these enterprises and (ii) to develop a pipeline of promising social businesses that will feed into IVN’s flagship program: the Social Venture Program, a development program for more mature enterprises.

Avodot LeHaredim (meaning: employment for ultra-Orthodox) addresses the major challenges faced by Israel’s Haredi population trying to integrate into the labor market. The venture promotes job placement through social networks, i.e. Facebook & WhatsApp, and provides personal and available services for those job seekers, while taking into account the unique characteristics of Haredi society.

Joined IVN’s portfolio in 2014 within the framework of IVN’s partnership with Bank Mizrahi-Tefahot

STATUS: Mature

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Mentors

Reuven Reif

Reuven was a Senior Partner at Goldfarg, Levy, Eran & Co., one of Israel’s leading law firms, until his retirement at the end of 2007. Reuven remains Of Counsel to the firm.

Naftali (Tali) Idan

Former CFO at Ceragon, Tali currently serves as director at Lumenis and is involved in a number of social organizations. As a seasoned financial executive, having served as CFO in leading Israeli hi-tech companies, Tali brings with him years of invaluable experience.

Co-investors

IVN and Bank Mizrahi-Tefahot

Impact

Number Employed as the Result of the Venture

  • 2014 – 650
  • 2015 (projected) – 1,000

Total Income

  • 2014 (June – Dec.) – NIS 98,000
  • 2015 (projected) – TBD

Income Generated as % of Total Income

  • 2014 (June – Dec.) – 40%
  • 2015 (projected) – 80%