Jerusalem Venture Partners (JVP) has been chosen by Israel´s National Innovation Authority (Office of the Chief Scientist) to operate a Jerusalem-based technological incubator, the company said.
The JVP led group included Motorola Solutions (NYSE: MSI), Reliance Industries (NSE: Reliance) and Yissum, the Research Development company of the Hebrew University of Jerusalem.
The JVP Labs Incubator will invest in startups in a variety of fields, among them enterprise software, media technologies, Internet of Things (IOT) and communications.
According to the Israel National Innovation Authority, which runs the State of Israel´s technological incubator program, the license was granted based on JVP´s broad experience running two such incubators, the predecessor incubator JVP Media Labs in Jerusalem and the JVP Cyber Labs in Beer Sheva. The Office of the Chief Scientist cited JVP´s investment strategy and successful mentoring of its startups from their early stages through commercialization as well as the new partners who joined JVP in this endeavor.
The license for the JVP Labs was among four announced this week by Israel´s National Innovation Authority, for a total of 19 such incubators throughout the country.
JVP Labs in Jerusalem has had a previous license to operate the incubator since 2004. The JVP Labs team looks at over 400 companies annually, and, following a rigorous screening process, chooses 0.5 percent-1 percent of the companies to participate in the incubator program and receive investment.
The JVP Labs are located in the JVP Media Quarter, established by Erel Margalit in 2009, a hub of innovation with 200 dynamic entrepreneurs in business, social and cultural enterprises. The JVP Media Quarter houses startups, the JVP funds, the Siftech Accelerator, a performing arts center – “Zappa Jerusalem in The Lab” – and a social profit organization, “JVP Community” (Bakehila).
Jerusalem Venture Partners (JVP) is a leading Israeli venture capital firm dedicated to building world-class technology companies.