Samsung Electronics has opened its newest Global Innovation Center (GIC) in Tel Aviv. The launch of Samsung Next Tel Aviv this week is the latest sign of the South Korean company’s growing interest in Israeli innovation.

Samsung GlC was started in 2013 as an early-stage technology investment program. Samsung already has GIC offices in New York, San Francisco, Seoul and Silicon Valley.

“Tel Aviv has more talented engineers per square foot than anywhere in the world,” Kai Bond, general manager and CEO of Samsung Global Innovation Center in New York, told Bloomberg.

Samsung Next celebrated an official launch yesterday (September 28) at the DLD Tel Aviv Innovation Festival.

Their booth at the annual tech event included a virtual reality roller coaster ride using Samsung Gear VR powered by Oculus. The ride is head-spinning and exciting.

Samsung’s new Tel Aviv center – located at the Sarona complex — will invest in artificial intelligence, cyber security, augmented and virtual reality.