Leading Israeli VC Jerusalem Venture Partners (JVP) is to create Israel’s first ever private cyber-security incubator as part of the Israeli Chief Scientists’ incubator program.
JVP will found the multi-million dollar incubator at the Beersheva Technology Park in cooperation with Ben Gurion University’s technology transfer company. The incubator is expected to begin operations early next year.
JVP, which was founded in 1993, will select start-ups in the fields of cyber-security and enterprise software. Once established, there are plans to expand the incubator to include an additional incubator for community-based social initiatives and a cultural arm which will bring Jerusalem’s Zappa Music Club to the southern town.
“The initiative comes in the wake of rising cyber-threats and increasing attacks on critical infrastructure in Israel and around the world,” said JVP Founder and Chairman Erel Margalit. “Israel’s leadership in the area of cyber-security is a strategic asset for the country, and we can leverage it not only for security purposes, but also economically and socially. Establishing the Beersheva incubator alongside a social incubator and other cultural hot-spots can create cultural and social change along with a thousand new jobs.”
“Our vision is to turn Beersheva into a center of innovation and creativity in the field of hi-tech, and a leader in the field of cyber-security,” said Yoav Tzruya, who is to head the incubator.
JVP manages eight VC funds with over $900m. under management.
Israel has been named one of the top three world-leaders in the field of cyber-security and Israeli companies are today some of the leading IT security providers in the world.