Germany-based energy utility Innogy has formed a partnership with crowdfunding platform OurCrowd to seek out investment targets in the latter’s home country of Israel.
The initiative will form part of Innogy’s open innovation strategy and will involve OurCrowd looking for companies in areas such as smart and connected technology, urban solutions, disruptive digital technology, big data and automated technologies such as blockchain.
Peter Terium, Innogy’s CEO, said: “We are on a quest for innovation and are excited to be present in the vibrant and innovative ecosystem here in Israel. We have our own innovation team in Israel, connecting us with the startups and innovators in the country.
“OurCrowd is a natural partner for us. We are impressed by the depth of OurCrowd’s exposure and the quality of their portfolio. This partnership will enhance our ability to identify, invest in and build new successful business – and to do it fast.”