Merging Traffic, Inc. (“Merging Traffic”) and StartUp Nation Ventures LLC (“SUNV”) announced the launch of the $25,000,000 StartUp Nation Ventures Fund LLLP (“SUNV Fund”). The fund focuses on the most disruptive and promising Israeli technology startups ready for expansion into the United States and Latin American Markets.
The StartUp Nation Ventures Fund was established to scale the unique partnership between StartUp Nation Ventures, LLC and the Israel Innovation Authority (“IIA”), which established the Israel-Florida Innovation Alliance (“Innovation Alliance”). Merging Traffic and SUNV executives traveled to Israel as part of an economic trade mission in late 2017 to lay the foundation of the partnership.
“We realized it’s time to grow and scale the unique opportunity in the collaboration between SUNV and the IIA. It’s a platform to support Israeli companies’ growth and expansion in choosing Florida as their entry point into the United States and Latin America.”
Dr. Max W. Hooper, CEO, Merging Traffic and General Partner of the Fund.
About the StartUp Nation Venture Fund
The fund focuses on investment in Israeli technology startups aligned with Florida’s High-Technology clusters like Cyber Security, Tourism, Blockchain, Medical Technologies (MedTech), Financial Technologies (FinTech), Smart Cities, eSports, and Gaming. Identified companies will have proven feasibility of their technologies (Technology Ready Level above 6) and have a minimal viable product or working prototype.
SUNV is working with the IIA to vet and select the best candidate companies for investment by the FUND. Investors enjoy a unique approach which provides double due diligence process done by IIA and SUNV Fund along with a non-dilutive grant. StartUp Nation Ventures offers a High-Touch Capital Investments (TM) platform, a unique hands-on methodology that allows companies to focus on the critical path for scaling their businesses in the United States. Under the Israel- Florida Innovation Alliance – the Israel Innovation Authority may approve a grant of up to 50% to Israeli companies that are selected by and receive investment from the StartUp Nation Ventures Fund to support costs related to go to market R&D, pilot and market validation for companies expanding their solutions into the U.S. and Latin America markets.
“The partnership with the Israel Innovation Authority will foster greater collaboration and synergies between Florida’s burgeoning innovation ecosystem and Israeli innovative companies by aligning these companies to grow and integrate across Florida’s High Technology Clusters. The SUNV Fund will provide investors with unique access to a diverse portfolio of Hi-Tech Israeli companies backed by Israeli Innovation grants.”
Dr. Vicki Rabenou, StarUp Nation Ventures Founder and CEO
Studies have shown that Israeli companies have the potential for significant impact on a market’s economic benefit, jobs, and GDP. Additional reports demonstrate there are thousands of promising early-stage ventures in Israel searching for new markets in the U.S. and Latin America.
The fund intends to provide necessary capital support to entrepreneurs and help drive innovation forward in both Israel and Florida.
Source: StartUp Nation Ventures