Israeli spy agency creates fund to invest in tech firms

June 27, 2017
Israel is seen as a global leader in the technology industry, particularly regarding cyber-defence

Israel's Mossad spy agency is starting a fund to invest in technology firms creating products that could assist its work, including those involving robotics and encryption, the prime minister's office said Tuesday.

The fund, to be called Libertad, will invest in research and development programmes at "cutting-edge technology startup companies," a statement said.

It said it was calling on firms to submit proposals, particularly in areas including robotics, encryption and personality profiling.

The statement said Mossad would not publicise the names of the firms in which it invests.

It said Libertad would be open to anyone and provided an to submit proposals (apply@libertad.gov.il), adding that it would offer up to two million shekels ($570,000, 500,000 euros) for projects.

More could be granted for exceptional cases, it said.

It will not act as a typical investor.

Libertad will not hold equity in the firms in which it invests and will instead receive a licence to use the technology developed, it said.

The CIA in the United States has created a similar investment fund, known as In-Q-Tel.

Israel is seen as a global leader in the technology industry, particularly regarding cyber-defence.

Libertad was the name of a ship that carried Jewish emigrants to what was then British-mandate Palestine in 1940 before the creation of the state of Israel.

Explore further: SoftBank-Saudi high-tech Vision fund raises $93bn

Related Stories

Recommended for you

Matter waves and quantum splinters

March 25, 2019

Physicists in the United States, Austria and Brazil have shown that shaking ultracold Bose-Einstein condensates (BECs) can cause them to either divide into uniform segments or shatter into unpredictable splinters, depending ...

How tree diversity regulates invading forest pests

March 25, 2019

A national-scale study of U.S. forests found strong relationships between the diversity of native tree species and the number of nonnative pests that pose economic and ecological threats to the nation's forests.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.