Connect with us

Tech

Israel and South Korea cooperate to promote “deep tech”

Israel and South Korea cooperate to promote “deep tech”

 


Israel and South Korea have teamed up to establish an $80 million innovation fund to invest in cutting-edge startups from both countries.

The fund will allocate capital to 25-30 leading deep tech companies engaged in complex, lengthy research in hopes of disrupting technology. These companies typically operate in the fields of semiconductors, robotics, automotive, quantum computing, cybersecurity and digital health.

The new fund brings together the best of both countries: Israel is known as the Startup Nation for its innovative genius, while South Korea, with five times the population, is recognized as the place for startups to scale and achieve commercial success.

The new NH-OC Global Open Innovation Fund is already more than halfway to its $80 million goal, with $32 million from K-Growth, which handles most of South Korea's government investments, and $16 million from NH Venture Investment, the venture arm of Nonghyup Financial Group, one of South Korea's largest banks.

The South Korean government has chosen OurCrowd, a Jerusalem-based platform that connects 240,000 small investors with promising startups, to manage the fund in collaboration with NH Venture Investment.

The Innovation Fund will also foster cooperation between the two countries, which invest more in research and development as a percentage of GDP than any other country (Israel ranks first in this area, followed by South Korea in second).

“The establishment of the Israel-Korea Binational Fund with the support of the South Korean government is great news for Israel's tech industry,” said OurCrowd CEO John Medved.

South Korea is looking to Israeli innovation to position itself in the industries of the future that it aims to lead in the next decade and beyond.

OurCrowd CEO John Medved. Photo courtesy of OurCrowd

He said Israeli deep tech companies would gain direct access to South Korean industry giants, while South Korean startups would benefit from Israel's connections to leading venture capital investors and the international tech innovation ecosystem.

Kim Hyun-jin, CEO of NH Venture Investment, emphasized the importance of the deal.

K-Growth established the fund to help Korean companies expand globally through open innovation with global tech companies, including innovative Israeli companies, he said.

We look forward to unearthing Israeli innovation through OurCrowds' extensive Israeli and global network, and partnering with Korean tech startups through this fund to grow together.

The governments of Israel and South Korea have jointly invested $77 million in 196 bilateral technology projects in recent years, including $18 million in robotics and AI projects in 2023.

Get ISRAEL21c news delivered straight to your inbox.

Subscribe now

Sources

1/ https://Google.com/

2/ https://www.israel21c.org/in-push-for-deep-tech-israel-and-south-korea-join-forces/

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]