Relaunched tech incubator to focus on storage, AI, IoT, & fintech

Relaunched tech incubator to focus on storage, AI, IoT, & fintech

Business news |
By Rich Pell

The incubator will focus on emerging startups in storage, the internet of things (IoT), computer vision, AI, and fintech. It replaces a previous incubator led by Jerusalem Venture Partners under the Israeli incubator program administered by Israel’s National Innovation Authority (formerly the office of the Chief Scientist).

The new incubator will begin operations and accept applications in the second half of 2017 and will be based in the Jerusalem headquarters of OurCrowd, an equity crowdfunding platform on the JVP Media Quarter campus. It has invested over $440M into 120 companies and eight funds, vetted over 6,000 companies and seen 13 exits.

“This represents a unique team with a global reach, incredible scale, and with deep technological, commercial and academic roots and we expect to invest in close to 50 companies over the next 10 years and further grow the formidable cadre of Jerusalem startups,” said Jon Medved, OurCrowd’s CEO.

It is working with Motorola Solutions, Indian tech firm Reliance Industries and Yissum Research Development, the technology transfer wing of the Hebrew University of Jerusalem. Yissum has registered over 9,325 patents covering 2,600 inventions, licensed out 880 technologies and spun out 110 companies including Mobileye, BriefCam, CollPlant and Qlight Nanotech.

“The Jerusalem incubator is one element of our Israel innovation hub, which is focused on developing advanced solutions in artificial intelligence, cybersecurity and other fields,” said Eduardo Conrado, Executive Vice President, Strategy & Innovation Office, for Motorola Solutions.

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