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OurCrowd, Motorola Solutions and Reliance Industries Launch Incubator to Give Jerusalem Startups a Global Competitive EdgeOurCrowd, a global leader in equity crowdfunding, today announced a partnership with Motorola (News - Alert) Solutions, Reliance Industries and Yissum, to operate an innovation technology incubator to support 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 a natural fit to lead the incubator team. The incubator will focus on frontier technologies such as big data, analytics, AI, fintech, storage, IoT and computer vision. The incubator will be based in OurCrowd's Jerusalem headquarters, located in the JVP Media Quarter campus, founded by MK Erel Margalit. OurCrowd will lead the incubator consortium together with partners Motorola Solutions (NYSE: MSI (News - Alert)), Reliance Industries (NSE: Reliance) and Yissum Technology Transfer Company of the Hebrew University of Jerusalem. 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 $440M into 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, and make it one of the most active Venture Capitalists in the vibrant Israeli startup scene. Jon Medved, OurCrowd's CEO 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 world famous Israeli incubator program administered by Israel's National Innovation Authority (formerly the office of the Chief Scientist). Eduardo Conrado, Executive Vice President, Strategy & Innovation Office, for Motorola Solutions 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." "Reliance Industries is excited to further its long-term commitment o Israel by partnering with Israel Innovation Authority jointly with OurCrowd, Motorola and Hebrew University for the Jerusalem Incubator," said the spokesperson from Reliance Industries Limited. "We are confident of Israeli start-ups offering unique value proposition by delivering next-gen digital services. We believe the incredible technological innovation from Israel will gain immensely by addressing the huge Indian market riding on the nationwide 4G LTE (News - Alert) digital infrastructure setup in India by Jio. This will be a significant win-win for both India and Israel." Notes to Editors About OurCrowd: OurCrowd is the leading global equity crowdfunding platform for accredited investors. Managed by a team of seasoned investment professionals and led by serial entrepreneur Jon Medved, OurCrowd vets and selects opportunities, invests its own capital, and brings companies to its accredited membership of global investors. OurCrowd provides post-investment support to its portfolio companies, assigns industry experts as mentors, and takes board seats. The OurCrowd community of almost 20,000 investors from over 112 countries has invested over $440M into 120 portfolio companies and funds. OurCrowd already has thirteen exits to date, two IPO's and eleven acquisitions. To join OurCrowd as an accredited investor visit http://www.ourcrowd.com and click "Join."
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About Yissum For Press Materials: http://blog.ourcrowd.com/incubator/ View source version on businesswire.com: http://www.businesswire.com/news/home/20170608005962/en/ |