Breaking News

You are here » Indian-Commodity  :  Corporate  :  RIL gets nod to invest $25 million in Jerusalem Innovation Incubator

21-Jul2017

RIL gets nod to invest $25 million in Jerusalem Innovation Incubator

Reliance Industries (RIL) has received an approval to set up and invest in a technology incubator by the name Jerusalem Innovation Incubator (JII), licensed by Israel Innovation Authority (IIA), Ministry of Economy, Israel, under competitive bidding process. The company proposes to invest up to $25 million in JII and in frontier technology start-ups in tranches, over a period of about 8 years.

The investment in JII shall be done in partnership with OurCrowd (Israel-based leading start-up crowd-funding platform), Motorola Solutions (global provider of mission-critical communication solutions and services) and Yissum (technology transfer company of Hebrew University of Jerusalem - ranked as the number 1 university in Israel by the 2018 QS World University Rankings).

JII will be in the form of a Limited Liability Partnership (LLP) with the Company holding 20% interest. The balance will be held by OurCrowd (60%), Motorola (20%) and Yissum, a non-investing partner will collaborate with JII to provide R&D and other support. The board of directors at their meeting held on July 20, 2017, has approved for the same.


Related News

View all news

Wipro enters into strategic partnership with Saxo Bank

Wipro and Saxo Bank Group, a leading multi asset trading, have entered into strategic partnership. Saxo Bank has chosen Topcoder, a Wipro company and the world's largest talent network and crowdsourcing......

Wipro features as leader in Everest Group's PEAK Matrix Assessment 2019

Wipro has been positioned as a leader in Everest Group's recent report on Application Services in Capital Markets - Services PEAK Matrix Assessment 2019: Data, Cloud and Platform Investments to Fuel Innovation......

Datamatics Global Services gets nod to merge Lumina Datamatics

Datamatics Global Services (DGSL) and Lumina Datamatics (Lumina) have received approval to merge the two companies into DGSL. The merged Company would then be vertically split into two companies, namely,......

Top News

View all news

Wipro enters into strategic partnership with Saxo Bank

Wipro and Saxo Bank Group, a leading multi asset trading, have entered into strategic partnership. Saxo Bank has chosen Topcoder, a Wipro company and the world's largest talent network and crowdsourcing......

Wipro features as leader in Everest Group's PEAK Matrix Assessment 2019

Wipro has been positioned as a leader in Everest Group's recent report on Application Services in Capital Markets - Services PEAK Matrix Assessment 2019: Data, Cloud and Platform Investments to Fuel Innovation......

Datamatics Global Services gets nod to merge Lumina Datamatics

Datamatics Global Services (DGSL) and Lumina Datamatics (Lumina) have received approval to merge the two companies into DGSL. The merged Company would then be vertically split into two companies, namely,......