Israel’s National Innovation Authority chose venture capital fund Jerusalem Venture Partners (JVP) to lead a technology incubator that includes communications equipment manufacturer Motorola Solutions and diversified conglomerate Reliance Industries.
The operating group will also include Yissum, the research development spinout of the Hebrew University of Jerusalem. The JVP Labs Incubator will invest in startups across the enterprise software, media and communications, and internet-of-things sectors.
The authority, which already runs the state of Israel’s technology incubator, was launched in 2015 by the Israeli Ministry of Economy to promote Israel’s technological capabilities on a global scale, run initiatives and integrate technology and innovation with Israel’s wider economy.
The Office of the Chief Scientist, part of the National Innovation Authority, praised JVP for its investment strategy and successful mentoring of startups through its previous incubators, including Media Labs in Jerusalem and Cyber Labs in Beer Sheva.
JVP Labs considers more than 400 companies every year, inviting between 0.5% and 1% of them to the incubator program.