Three portfolio companies of Haifa incubator Hi-Center have obtained an aggregate NIS 6 million. The year-old incubator now has six portfolio companies.
Hi-Center's investment committee intends to submit to the Office of the Chief Scientist NIS 8 million in funding applications for four more ventures.
Haifa Municipality-owned Haifa Economic Corporation Ltd. set up Hi-Center a year ago in order to foster ventures that have already successfully passed the technology feasibility stage. In contrast to other incubators, Hi-Center invests in ventures alongside other investors, as well as in companies that have already passed the technology feasibility stage.
Casual games developer Dassa Games Ltd. obtained funding from Hi-Center and a private investors in the games industry. Micro Components Ltd. (MCL) spinoff BrightLED Ltd. is developing compact LED arrays for high-powered lighting, such as emergency lights, billboards, and traffic lights. ClearFood Ltd. is developing vegetarian infant food formula that uses hummous instead of soy beans. The product is based on seven years of research at the Hebrew University of Jerusalem.
The new projects brings the number of companies at Hi-Center to six, including also InfoCall Ltd., Quammy Ltd., and SpaceMute Ltd.
Published by Globes [online], Israel business news - www.globes-online.com - on August 2, 2009
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