Former CNN host Larry King and the Technion Israel Institute of Technology are establishing the Israel Silicon Valley Chambers of Commerce to foster Israeli high tech, by strengthening ties between the two locations and to channel budgets from multinationals for the opening of R&D centers in Israel.

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King and Technion president Prof. Peretz Lavie will serve as the presidents of the Israel Silicon Valley Chambers of Commerce. Its chairman will be Niv Jacobi, who manages much of King's businesses. King will be involved in financing the project through a NIS 2 million investment via a holding company, and in opening doors in Silicon Valley.

The new chambers of commerce will be launched on February 26 in Tel Aviv, followed by a launch at Stanford University in Palo Alto.

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