Converging with ‘start-up nation,’ Israel’s Mossad establishes tech investment fund

 

(JNS.org) Israel’s Mossad security and intelligence agency will converge with the Jewish state’s “start-up nation” through the establishment of a technological innovation fund.

The Israeli company ElMindA’s brain-mapping technology. (Illustrative.) Credit: ElMindA.

The fund, “Libertad,” will serve as an additional branch of the intelligence service’s “technological force build-up,” the Mossad said Tuesday.

Libertad will connect the Mossad to Israel’s various technology start-ups by enabling the intelligence agency to directly invest in homegrown research and development programs.

As part of the Libertad initiative, the Mossad has called on entrepreneurs and companies to submit innovative proposals in the fields of robotics, energy harvesting, web intelligence, encryption and more.

“We are looking for companies that are dealing in areas we are interested in, that are at the beginning stages, with a good idea and a good staff,” said a Mossad employee identified as “Aleph” on a conference call with reporters. “We want a relationship with them and to invest in their idea, so that they can fulfill their dreams and we can get the technology that we can use.”

Libertad is offering up to NIS 2 million ($570,000) in equity-free capital to invest in cutting-edge projects, and larger sums may be approved in unique cases. 

Posted on June 27, 2017 .