The Israeli Ministry of Economy and Industry has launched a project for a new Israeli startup accelerator in Beijing together with the Chinese group ShengJing, one of the world’s largest private equity funds. The Ministry of Economy and Industry will finance the project. The five Israeli companies scheduled for the first round will receive training for six months and will participate in a roadshow to support them in fundraising in China. The incubator is intended as a general criterion for all sectors with technology capable of being successful in the Chinese market. ShengJing has already invested $ 100 million in Israel through venture capital funds Viola Group, vintage investments, Jerusalem Venture partners (JVP) and Canaan partners. ShengJing also invested directly in a number of Israeli start-ups.


Source: medNews