The Incubator Administration today extended the licenses for Capital Point Ltd. (TASE:CPTP) to operate Meytag Technology Incubator in Katzrin and Ofakim Hi-Tech Ventures until 2012. The two incubators will therefore not be included in the Incubator Administration's tenders this year.
The Incubator Administration set new regulations this year, under which, beginning in July, a tender will be held each year for the operation of four incubators. The incubators' current franchisees will compete against new companies seeking to operate an incubator. The bidders who meet Incubator Administration criteria, which will be set out later, will win the tenders.
The first tenders will be held in July, although it is not yet known for which incubators. Capital Point's announcement means that its incubators will not be included in the first round.
The other TASE-listed incubator management companies are Maayan Ventures Ltd. (TASE:MAYN) (which manages Maayan Ventures in Omer, Iris Ventures in Sde Boker, and Rotem Technologies Ltd. in Dimona); Gefen Investments Swing Ltd. (TASE: GEFEN) (which manages Meytav Technological Enterprises Innovation Center Ltd. in Kiryat Shmona, and Ashkelon Technological Industries (ATI)); Xenia Venture Capital Ltd. (TASE:XENA); and ProSeed Venture Capital Fund (TASE:PRSD) (one of the shareholders of Technion Seed).
Capital Point's share price rose 0.2% today to NIS 4.50, giving a market cap of NIS 42 million.
Published by Globes [online], Israel business news - www.globes-online.com - on February 7, 2011
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