RIL to invest $25 mn in Israel-based technology incubator

US dollar
Reliance Industries (RIL) will invest up to $25 million for 20 percent stake in Jerusalem Innovation Incubator (JII), a technology incubator licensed by Israel Innovation Authority.

JII focuses on technology areas such as big data analytics, artificial intelligence, fintech, storage, Internet of Things (IoT), among other areas.

The proposed investment in JII would assist RIL to pool significant amount of capital to fund innovation by early stage start-ups.

In addition to RIL, JII will be owned by OurCrowd with 60 percent stake, Motorola 20 percent stake and Yissum, an non-investing partner.

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