Big-data, artificial intelligence and connectivity startups in Tel Aviv-based business accelerator The Junction now have access to commercial collaborations and investment opportunities from Ohio and Germany due to two separate partnership agreements.
The first partnership, dubbed the Israel-Youngstown Business Incubator Collaborative (I-YBI), facilitates 3D printing business collaborations. Youngstown, Ohio, is the home of America Makes, the national accelerator for 3D printing technologies, and is a growing hub for startups in this sector.
Two Israeli startups already working with I-YBI to connect with customers and investors are Nanofabrica of Tel Aviv, which is working to mass-produce 3D printed micro and nano parts; and PrintCB of Ness Ziona, which has a disruptive copper-based 3D printing ink and is working to develop next-generation printer electronics materials.
The other partnership is with Innogy, a subsidiary of RWE, the largest energy provider in Germany, boasting €44 billion ($52.1 billion) in revenue and 23 million customers in Europe.
The goal is provide Israeli startups with possible investment from Innogy’s Innovation Hub as well as opportunities for large-scale validation of new digital business models in smart home and building, machine-to-machine communication, and disruptive technologies for energy and cybersecurity.
“Working together with Innogy will enable companies to achieve product-market fit in a faster and more capital efficient manner,” said Jonathan Saacks, managing partner of F2 Capital, a specialized seed-stage Israeli venture capital fund that operates The Junction collaboratively with multinational corporations including SAP, HP, Munich Re and Deloitte.
Since inception in 2011, The Junction has launched more than 150 companies that have gone on to raise over $400 million in venture capital with multiple exits to multinationals. F2 has opened applications for Wave 18 of The Junction and will work with Innogy and its other corporate partners to narrow down 300 applicants to select five to start in January 2018.
[Photo: Youngstown Business Incubator / YouTube]