Incubit Ventures announces strategic partnership with Cukierman & Co. Investment House
Incubit Technology Ventures, the investment vehicle of Elbit Systems (Nasdaq: ESLT; TASE: ESLT) and a franchise of the IIA (Israel Innovation Authority), announces the signing of a strategic cooperation agreement with Cukierman & Co. Investment House, the leading investment house in Israel.
This partnership is the provision of support in the seed stages for entrepreneurs and companies in characterizing the financial products required in the stages of raising capital, valuation, as well as maintaining balance sheets and developing business plans and budgets.
Incubit is an incubator focused on creating an innovative and supportive work environment to deep technology startups in the seed stage. The incubator team provides diverse services for companies and entrepreneurs including business development, in-depth technological support, project management training, accounting services, administration and legal services, commercialization and more.
Incubit explores about 200 breakthrough technological initiatives a year in a wide range of fields, including robotics, advanced optics, artificial intelligence, communications, energy, materials, nanotechnology, cyber, industry 4.0 and more. Since its founding in 2013, Incubit has invested in 15 projects.
In addition to $1 million in equity divided between three years of operation, Incubit provides support to the many companies in its ecosystem with critical R&D needs, including access to advanced laboratories, engineering hours, and infrastructure for technological samples.
“The cooperation is a significant indication that the financial-business-technological perspective is changing in the Israeli start-up industry,” said Oren Gadot, CEO of Incubit. “Investing in Deep Technology companies is a significant challenge because of the volume of capital needed for commerce as well as the low probability of success.”
He added, “The choice of Cukierman, a leading investment bank, creates a real value for entrepreneurs with no business-financial experience at an early stage, and includes accelerating the maturity of work products in a way that removes these challenges and significantly improves the chances of success.”
Said Ben Topor Managing Partner at Cukierman, “We are very impressed by the quality of the incubator and the companies that operate in it, and we are happy to help entrepreneurs develop strategic relationships with investors and decision-makers around the world.”
Disclosure: This article includes a client of an Espacio portfolio company