Elron was founded in 1962 by Uzia Galil, with the support of Dan Tolkowsky of the Discount Investment Corporation.
Elscint (a portmanteau of the words "electronic" and "scientific) was founded in 1969 by Dr. Avraham Suhami, who was a nuclear physics professor at the Technion – Israel Institute of Technology at the time, after receiving encouragement to apply his scientific and technical knowledge for commercial applications from Uzia Galil, founder of Elron, a technology investment company.