The “500 Startups” Venture Capital Fund is investing in Israeli startup RapidAPI, which developed a platform to allow people with ideas for new applications to turn their initiative into reality quickly and easily.
500 Startups is the second largest startup accelerator in the global hi tech industry with an overall investment volume of $200 million. RapidAPI had already attracted investments from Dov Moran, the Israeli inventor of the USB memory stick, and Marius Nacht, founder and chairman of CheckPoint Software Technologies.
The RapidAPI startup was developed by Iddo Gino, 18, who’s been rolling millions in the hi tech industry employing people his parents’ age. “When I was about 11, I went with my dad to his workplace, and I sat with one of the programmers and saw all the cool stuff he was doing,” Iddo told Israel 21c back when he was but a lad of 17. “He showed me a program he made to sort out seating for his son’s bar mitzvah automatically. Then he gave me a book to learn how to program. And from there, one thing led to another.”
This time around, Gino noticed that most apps share common operations such as entering user name and password, purchases, and data keeping. So he developed all of these components as off-the-shelf products any developer can borrow and insert in their program without having to write a single line of original code.
Gino says he’s seen many good ideas getting stuck in the realization phase, which requires using highly paid coders. According to Gino, using RapidAPI can reduce development costs by as much as 70%, allowing many more developers to make their life’s dream come true and accelerate the development of many new applications.
Which is what the world needs.
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