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New Delhi:
Tata Industries and Ramot at Tel Aviv University (TAU), the
university's technology transfer company, have entered into a
strategic memorandum of understanding (MoU) to fund and generate
leading-edge "commercialisation ready technologies".
Under the MoU, Tata Industries, through its wholly owned overseas
subsidiary, will be the lead investor in Ramot’s $20-million
Technology Innovation Momentum Fund, which will invest in a wide
range of technologies. These include engineering and exact
sciences, environment and clean technology, pharmaceuticals and
health care.
"Tata has taken the decision to partner with Ramot and TAU with a
desire to enhance capabilities of Tata companies and leverage
technology as a differentiator for our businesses." K.R.S. Jamwal,
executive director of Tata Industries said in a statement.
According to Jamwal, an extensive due diligence process was
conducted by chief technology officers from major Tata companies
prior to this MoU. During this process, the Tata team was exposed
to more than 70 promising innovations and had the opportunity to
interact with leading scientists at TAU.
Shlomo Nimrodi, the CEO of Ramot said being a lead investor Tata
would be able to see a pipeline of technologies and will have an
option to commercialise certain promising opportunities from TAU.
The Embassy of Israel, in a statement here Tuesday, said: "Through
this MoU, Tata Industries will attempt to scout Israeli
technologies developed by Tel Aviv University's scientists, in an
aim to apply commercial uses for their research."
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