Wednesday, December 12, 2007

Hebrew University to invest in cleantech projects

Sources inform ''Globes'' that Yissum, the technology transfer company of the Hebrew University of Jerusalem, will allocate all proceeds from the exit of any portfolio company to cleantech ventures. Yissum is responsible for marketing the inventions and know-how generated by the University's renowned researchers and students.

Yissum does not disclose its budget, but reportedly had $40 million revenue in 2006, including $30 million in royalties and $10 million from research agreements, which accrues to Hebrew University. The university then allocated 10-15% of this revenue back to Yissum. Allocations to cleantech projects will amount to several million shekels, constituting a hefty proportion of the company's total budget.

The sources added that a number of entities, including investment institutions and an agency of a foreign government, are interested in investing in Yissum cleantech projects. However, it is still unclear how the parties will share the investment.