Israeli equity crowdfunding company OurCrowd has set up an innovation incubator in partnership with Motorola Solutions, India's Reliance Industries and Hebrew University of Jerusalem technology transfer company Yissum. The incubator, to be located in OurCrowd's headquarters in the JVP Media Quarter campus, founded by MK Erel Margalit, will support the growth of early stage startups in Jerusalem.
With a long track record of startup investment in Jerusalem, and as a key player in the Israeli tech ecosystem, OurCrowd is well qualified to lead the incubator team. The incubator will focus on frontier technologies such as big data, analytics, AI, fintech, storage, IoT and computer vision.
OurCrowd will be replacing Jerusalem Venture Partners, who previously led the incubator. The incubator will begin operations and accept applications in the second half of 2017.
In less than five years, OurCrowd has invested over $440 million in 120 companies and eight funds. After vetting more than 6,000 companies and celebrating 13 exits, OurCrowd continues to lead the global equity crowdfunding sector for accredited investors, making it one of the most active venture capitalists in the vibrant Israeli startup scene.
OurCrowd CEO Jon Medved said, "We are proud to be strengthening the Jerusalem tech-ecosystem together with strong partners such as Motorola Solutions, Reliance Industries and Yissum. This represents a unique team with a global reach, incredible scale, and with deep technological, commercial and academic roots. We expect to invest in close to 50 companies over the next 10 years and further grow the formidable cadre of Jerusalem startups."
The incubator will be part of the internationally respected Israeli incubator program administered by the Israel Innovation Authority (formerly the office of the Chief Scientist).
Motorola Solutions EVP, Strategy & Innovation Office Eduardo Conrado said, "In today’s technology environment, strong partnerships and strategic investments help accelerate innovation. 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. We are proud to be part of this important project and look forward to working with OurCrowd, Reliance and Yissum on the future of public safety technology."
Published by Globes [online], Israel business news - www.globes-online.com - on June 9, 2017
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