Winner Will Receive $1M Investment and Join JVP’s Cyber Labs Cyber-Security Incubator
Jerusalem, Israel – January 8, 2014 – Jerusalem Venture Partners (JVP), one of Israel’s leading venture capital funds, announced today the launch of the Cybertition – the first ever Israeli cyber-security competition to identify the most promising idea for a new cyber-security startup. The winner will receive a $1 million investment to kick start the development of the company. The Cybertition offers aspiring entrepreneurs the ability to fast-track the standard deal flow process and secure a spot in JVP Cyber Labs – JVP’s early stage investment vehicle dedicated to cyber-security startups located in Israel’s cyber epicenter – Beer Sheva.
Following JVP’s evaluation of the business plans, up to three of the most promising startups will be invited to join JVP and the world’s leaders in the cyber field at the RSA 2014 annual security conference in San Francisco in February, 2014. The winner will be announced at the RSA Conference itself.
“This competition allows startups at the earliest stage of development – even with just an idea – to access the guidance, expertise and networks necessary to build global, market-leading companies. It’s a chance to ‘fast-forward’ a startup with a concept that can truly revolutionize the industry.” said Gadi Tirosh, General Partner of JVP. “Israel is rapidly establishing itself as the global epicenter for cyber-security innovation. To this end, our Cybertition is fast-tracking the next generation of successful cyber-security entrepreneurs to help bring urgently needed cyber-solutions to this increasingly critical field.”
JVP Cyber Labs, under license of the Office of the Israeli Chief Scientist (OCS), aims to identify, nurture and build the next wave of cyber-security and big data companies to emerge from Israel. The Cyber Labs are based in the newly opened cyber epicenter in Beer Sheva alongside R&D centers for major multinationals like EMC, RSA, and Deutsche Telekom, the headquarters of the IDF Communications Corps and Ben Gurion University.
“Beer Sheva is rapidly becoming the global cyber-security hub with an unparalleled ecosystem offering startups a unique opportunity to significantly enhance their growth potential,” said Yoav Tzruya, Partner at JVP’s Cyber Labs. “It’s a premier setting for taking companies with little more than an idea, and providing them with the tools, expertise, mentorship and partnerships to transform their concept into a cyber-security powerhouse.”
JVP is one of Israel’s leading venture capital firms focusing on cyber security investments, having built up such cyber-security companies as CyberArk, Navajo (acquired by SalesForce), Magnifire (acquired by F5 Networks), ThetaRay and NativeFlow. Israel has seen over $2 billion worth of M&A activity in the cyber-security sector recently, led by acquisitions from 18 major multinational corporations.
Interested entrepreneurs should submit a short PowerPoint presentation (up to 15 slides) and 5 page business plan detailing their concept, technology, competitive positioning and market potential.
Submissions must be submitted by Feb. 7th, 2014 to cyber@jvpvc.com.
About Jerusalem Venture Partners:
Jerusalem Venture Partners (JVP) is a leading Israeli venture capital firm dedicated to building world class technology companies. JVP has raised close to a billion dollars across nine funds since it was established in 1993 and was recently ranked one of the top-10 consistently performing VC funds worldwide by Preqin. JVP invests in companies and technologies in the areas of digital media, cyber-security and storage. The fund has invested in over 95 companies to date and led 26 of them to substantial exits. JVP operates two incubators under the State of Israel’s incubator program, in the areas of media and storage as well as cyber-security and big data.
Press Contact:
Pnina Ben Ami,
JVP Director of Communications
Tel: +972 2 640 9076
Cell: +972 50 6214186
Email. pnina@jvpvc.com