Tata group and global firms to start incubator in Tel Aviv University

MUMBAI: The Tata group has inked a pact with General Electric Ventures, Microsoft Ventures, Qualcomm Ventures, HNA EcoTech, Pitango Venture Capital and RAMOT, the Business Engagement Center of Tel Aviv University (TAU), to establish a new technology incubator in Israel.

With the first closing of $20 million, the incubator called i3 Equity Partners (i3) will focus on developing next-generation IoT (Internet of Things) and IIoT (Industrial Internet of Things) technologies.

Through this collaboration, the Tata group along with the other partners will support promising early-stage Israeli ventures, enabling them to reach an advanced phase of development, and ultimately strengthen their presence in global markets.

The partners, on their part, expect to tap the acclaimed ingenuity and knowhow of the Israeli tech industry, for growing their enterprises in the field of IoT, which is expected to transform how industry operates and how individuals live, work and play.

With headquarters at the TAU campus, i3 will be headed by Managing Partners, Ms. Noga Kap and Mr. Eran Wagner, both successful Israeli entrepreneurs as well as investors with extensive experience in early-stage investments, and chaired by Shlomo Nimrodi, Chief Executive Officer of RAMOT, and a veteran of the Israeli high-tech industry.