The South Korean government has announced the establishment of a bilateral fund with Israel to invest in DeepTech startups. The NHOC Global Open Innovation fund, co-managed by Israeli online investment platform OurCrowd, aims to raise $80 million, with $48 million already raised by the fund’s Korean partners, NH Venture Investment and K-Growth.
The fund will focus on investing in approximately 30 startups from both countries, with a particular focus on technologies such as robotics, cybersecurity, and digital health. OurCrowd CEO John Medved expressed his enthusiasm for the partnership, stating that it was excellent news for Israeli high tech. He added that Israeli DeepTech companies would gain direct access to South Korean industrial giants and establish global cooperation through this collaboration.
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