Japan's UMI and Yissum Establish Strategic Partnership
JERUSALEM, Nov. 25, 2019 /PRNewswire/ -- Yissum, the Technology Transfer Company of the Hebrew University of Jerusalem, announced today a strategic partnership with Universal Materials Incubator Ltd. (UMI), a 16.5B JPY Investment Fund from Japan. The partnership will focus on commercialization of cutting-edge technologies from Hebrew University (HU) to Japanese corporations. As specialists in materials and chemical industries, UMI has also invested in Yissum's Racah Nano Venture Fund, an investment vehicle founded this year to focus on Hebrew University innovations in advanced materials and nanotechnology.
The strategic partnership allows Yissum and UMI to grow their international presence and facilitate the adaptation of HU technologies to the Japanese market as well as create joint investment opportunities.
CIO of UMI, Dr. Shosuke Kiba said, "Through this collaboration, we aim to strengthen our network in Israel and improve our position as a new business creation platform in the materials and chemical industries in Japan. Israel is a global leader in the startup ecosystem and one of our top international targets for finding investment projects that contribute to the development of the Japanese materials and chemical industries."
Yissum's Senior VP of Business Development and Alliance Management, Dr. Itzik Goldwaser said, "The partnership with UMI advances Yissum's efforts to bring Hebrew University innovations to global markets and furthers our international strategy of global outreach that already includes similar partnerships in China and South America."
The Racah Nano Venture Fund completed its initial closing in July and has now raised over $7 million from top international and strategic investors. The fund's Chief Operating & Technology Officer Avi Voldman said, "The Racah fund aims to leverage Hebrew University's core strengths in advanced materials and nanotechnology. UMI's investment will help ensure the elite status of our technologies in the growing global nanomaterials markets."
About UMI
UMI is a venture capital focusing on chemicals and material science. It was established in October 2015 based on the vision of "Strengthening Japan's technological capabilities by fostering outstanding material and chemical companies and cultivating an industry structure that can compete in the global arena." Currently operating the UMI 1 & 2 Limited Partnership, with 16.5 billion yen in committed capital (from January 2016). For further information please visit www.umi.co.jp/en/.
About Yissum
Yissum is the technology transfer company of The Hebrew University of Jerusalem. Founded in 1964, it is the third company of its kind to be established and serves as a bridge between cutting-edge academic research and a global community of entrepreneurs, investors, and industry. Yissum's mission is to benefit society by converting extraordinary innovations and transformational technologies into commercial solutions that address our most urgent global challenges. Yissum has registered over 10,000 patents covering 2,800 inventions; licensed over 900 technologies and has spun out more than 135 companies. Yissum's business partners span the globe and include companies such as Boston Scientific, Google, ICL, Intel, Johnson & Johnson, Merck, Microsoft, Novartis and many more. For further information please visit www.yissum.co.il
About Racah Nano Venture Fund
Racah Nano Venture Fund is The Hebrew University of Jerusalem's venture fund focused on smart materials and nanotechnology. The nanotech fund was established in 2019 as a unique blend of academia and entrepreneurism to commercially asses and develop the best ideas within the University's walls. Racah Nano Venture Fund is a pro-active initiative which offers funding to university projects, allowing academic researchers to focus on perfecting their research, while also providing industry with high quality innovations that offer sufficient validation to provide initial de-risking of early-stage investments.
Press Contact: Estee Yaari, estee@yissum.co.il
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SOURCE Yissum; UMI
