Internationall companies Bid in New Incubators TenderJul. 22, 2012
The Technology Incubator Program in Israel will publish the results of its tender for the selection of incubators' new franchisees in nine days. Sources close to potential franchisees believe that participation in the tender was very strong, and that there was competition for most of the incubators.
The incubators in the tender are Ofakim Hi-Tech Ventures and Meytag Technology Incubator in Katzrin, currently owned by Capital Point Ltd.; Incentive Technological Incubator in Ariel, currently owned by Peregrine Ventures; New Generation Technology (NGT) in Nazareth, currently owned by a group of Jewish and Arab investors; and the former Technion incubator, which was operated by a group of venture capital funds.
The winners will receive the right to operate an incubator with government support, but the incubator's assets - the holdings in current projects and former portfolio companies - will be retained by the incubator's previous franchisees.
The quality of the participants in the tender may contain a pleasant surprise, as they reportedly include several strong Israeli companies as well as the funds of multinational corporations. Some of the bids are joint bids by Israeli and foreign corporate funds.
At the start of the tender, there were doubts about the quality of the participants, since most of the current incubator franchisees have not profited from the model, and some voluntarily gave up their franchise and struggled to find buyers or alternative managers.
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