BGU, represented by BGN Technologies, the University's technology transfer company, has joined the group commitment to invest in the long-term development of industry in the region.
The group includes industrial leaders such as Elbit Systems, Rafael and Ormat; leading investment companies, including ProSeed Venture Capital Fund, Direct Insurance Group and the Consensus Business group; academic and research groups such as the Arava Institute and Eilat-Eilot Renewable Energy Authority; private management groups and regional municipalities.
The Arava Group was selected on the basis of its outstanding record in both research and development and a proven ability to bring new technologies to market. It has been entrusted with the mandate to encourage technological initiatives related to production and improvement of renewable and alternative energy systems. Aid provided will encourage the development of start-ups from the initial stage through research and development until feasibility is achieved.
The government of Israel and the group will each invest half of $30 million (114 million Shekels) over a five-year period.
BGN Technologies, responsible for the commercialization of know-how and inventions of Ben-Gurion University's researchers, will represent BGU in the initiative.
According to Netta Cohen, chief executive officer of BGN Technologies, 'The Arava Group has all of the components needed to succeed in this emerging field: researchers who work and live in the desert; industrial leaders who have a proven record at opening new markets; and a greater overall commitment to succeed for the advancement of the region.'" (source)
