SanDisk Joins Tata as an Investor
TEL AVIV, Israel, Nov. 25, 2013 /CNW/ - Ramot at Tel Aviv University
Ltd. (Ramot), the University's tech transfer company, today announced
it has executed first closing of $17 million for its Technology
Innovation Momentum Fund (the "Momentum Fund"). The Momentum Fund will
invest in promising breakthrough technologies in a wide range of
fields, including pharmaceuticals, healthcare, high-tech and physical
Having completed first closing, the fund is expected to become
operational shortly through its three expert scientific committees,
which will review selected TAU technologies for funding commencing Q1
The lead investor Tata committed up to $5 million, with the balance of
the investment provided by SanDisk and angel investors, primarily from
South Africa, US and India.
Mr. René Hartner, Senior Director Corporate Strategy & Business
Development at SanDisk, said, "We are pleased to support this
initiative to speed the commercialization of leading-edge technologies
developed at Tel Aviv University. Our relationship with TAU and the new
Momentum Fund are part of SanDisk's ongoing efforts to strengthen
engagements with leading universities in countries where SanDisk has a
"We welcome SanDisk's decision to take advantage of this opportunity and
invest in the future technologies coming out of TAU. We see clear
potential business synergies that arise from this collaboration," said
Mr. K. R. S. Jamwal, Executive Director of Tata Industries.
Dr. Giora Yaron, Chairman of the TAU Executive Council and Chairman of
Ramot, believes the Momentum Fund will also help bridge the gap between
academic work and marketable innovation. Working with commercial
companies will help TAU develop the solutions the market is after,
thereby writing the next chapter of "Start-Up Nation".
"In exchange, the fact that research takes place within an academic
setting rather than in a corporate R&D lab means that projects with
longer lead times will have the right conditions to develop," he added.
Mr. Shlomo Nimrodi, the CEO of the General Partner of the Momentum Fund
and Ramot commented: "The Momentum Fund represents an innovative
approach for early-stage innovations utilizing a for-profit investment
mechanism with the support of strategic partners. The fund was able to
attract household industry experts to supervise the investment
decisions and the development process. The fund expects to invest in
20-40 projects an amount of $250K - $1,000K per project on a milestone
basis in a diversified range of technologies, all together mitigating
the risk of early-stage investment."
About Ramot at Tel Aviv University Ltd.
Ramot is Tel Aviv University's technology transfer company and its
liaison to industry, bringing promising scientific innovations made at
the university to commercialize with industry. The company provides the
legal and commercial frameworks for inventions made by TAU faculty,
students and researchers, protecting discoveries and innovations with
patents and working jointly with industry to bring scientific
innovations to the market.
SOURCE: Ramot at Tel Aviv University
For further information:
Ramot at Tel Aviv University Ltd.
Dr. Tamar Raz, VP Strategy & Marketing
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