U.S. hardware company Seagate Technology, a world leader in data storage, opened an innovation center in the Israeli coastal city of Tel Aviv on Thursday.

According to the company's statement, the new center, called Lyve Labs, will provide diverse services for Israeli startup companies, ranging from the initial trial runs of their products to professional assistance of data experts.

Israeli companies will also receive assistance in solving technological and business challenges, planning and certification services, business development training, streamlining data management processes and even access to advanced equipment.

Tel Aviv's Lyve Labs will be Seagate's flagship innovation center, while another Lyve Lab already operates in Longmont, Colorado, and additional centers are being planned globally.

Seagate was founded in 1979, based in Cupertino, California, and trades at Nasdaq with a market cap of about 14.88 billion U.S. dollars.

Seagate is now one of the world's largest hard disk manufacturers and storage solutions provider.