The South Korean government has recently announced its decision to partner with the Israeli online investment platform OurCrowd to co-manage a bilateral fund that will focus on investing in DeepTech (engineering and scientific innovation) startups. With the aim of raising $80 million, the fund has already secured $48 million in investments from its Korean partners, NH Venture Investment and K-Growth.
The NHOC Global Open Innovation fund intends to invest in approximately 30 startups from both countries, with a focus on technologies like robotics, cybersecurity, and digital health. This partnership is expected to provide Israeli DeepTech companies with direct access to South Korean industrial giants and establish global cooperation on a scale never before seen.
OurCrowd CEO John Medved expressed his excitement about the establishment of the Israel-Korea bilateral fund with the support of the South Korean government. He stated that this was excellent news for Israeli high tech, as it would allow Israeli companies to expand their reach beyond their borders and establish new partnerships with some of the world’s largest corporations. With this new funding opportunity, Israeli startups will be able to take their innovations to the next level and make an even greater impact on the global market.
