Ben-Gurion University of the Negev (BGU) is launching a $1 million investment fund, BGU President Rivka Carmi announced at an event held at the university on Wednesday.
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The fund will invest in technologies developed and conceived by BGU students and graduates.
As part of the new initiative, students that successfully finish a course focused on identifying innovative and potentially disruptive technologies will be given a chance to join the fund’s investment committee and act as on-campus scouters.
The main goal of the fund is to encourage on-campus innovation in the fields of technology, biotech and social engagement, Dana Gavish Friedman, vice president of entrepreneurship at BGN Technologies Ltd., the technology commercialization company of BGU, said in a statement. The fund will invest in dozens of groups of students each year, Ms. Gavish Friedman added.
BGU is the fourth Israeli University to launch investment funds. In April, Tel Aviv University launched TAU Ventures, a $20 million early stage fund aimed at students, alumni, and faculty. The Hebrew University in Jerusalem manages several funds investing in companies whose tech is based on breakthroughs made at the university in the fields of agTech, biotech, and life sciences, to name a few. In July 2017, the Technion – Israel Institute of Technology in Haifa launched a $200 million fund in collaboration with UG Capital Management Ltd., the venture capital arm of Hong Kong-based United Gain Investment Ltd.
In March, BGU, which is located in the southern Israeli city of Be'er Sheva, launched a new research center dedicated to the use of technologies like artificial intelligence, cybersecurity, and big data analytics in law enforcement.