Reliance Industries is investing $25 million in technology incubator called Jerusalem Innovation Incubator (JII), Israel over a period of 8 years.
In Jerusalem Innovation Incubator, Reliance Industries will invest in partnership with OurCrowd, Motorola Solutions and Yissum.
JII will be a Limited Liability Partnership (LLP) with RIL holding 20 per cent, OurCrowd will be holding 60 per cent and Motorola will be holding 20%. Yissum will be a non investing partner and will collaborate with JII to provide R&D other support.
JII shall invest in early stage startups per year and will focus on areas like: big data, analytics, Artificial Intelligence, Fintech, storage, IoT and computer vision.
JII is licensed by Israel Innovation Authority (IIA), Ministry of Economy, Israel under competitive bidding process.