Ramot Tel Aviv University Ltd., the University's technology transfer company, has raised $17 million for its Technology Innovation Momentum Fund, which will invest in breakthrough technologies in a wide range of fields, including pharmaceuticals, healthcare, high-tech and physical sciences.
Having completed its first closing, the fund is expected to become operational shortly through its three expert scientific committees, which will review selected Tel Aviv University technologies for financing. The fund hopes to invest in 20-40 projects in the first quarter of 2014.
The investment was led by Tata, which committed up to $5 million, with the balance of the investment provided by SanDisk and angel investors, primarily from South Africa, the US and India. Ramot chairman Dr. Giora Yaron, who is also chairman of the Tel Aviv University executive council said, "Direct work with major corporations will allow Tel Aviv University to provide innovative solutions to the real needs of industry and thus ensure the commercial potential of researchers."
Published by Globes [online], Israel business news - www.globes-online.com - on November 25, 2013
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