The foundations on how companies gain traction and work towards success are being upended. Rather than slowly moving forward in the eventual hope of gaining enough traction to connect to the right players in the field, OurCrowd is working to push both multi-national companies and innovative startups into strategic working relationships from the get go, leveling the playing field and mutually benefiting both.
Leveraging OurCrowd’s connection has always been the backbone of supporting portfolio companies, and the time has come to formalize it. We are pleased to be launching OurNetwork, a platform to strengthen and build strategic partnerships between MNCs and the startup ecosystem.
OurNetwork is already beginning to bear fruit, providing much needed direct access to technological breakthroughs and established companies. For example, New Zealand utility giant Vector was looking to access cutting edge breakthroughs around utilities. Through OurCrowd, they met portfolio company Mprest, a leading player in IIoT, resulting in a 2017 agreement to bring the “internet of energy” to over a million of Vector’s customers. Establishing a line of communication between the OurCrowd portfolio leader and the international market which was looking to innovate led to fast results.
Mutually beneficial deals like that between Israel’s Mobileye and OurCrowd portfolio company Zoomcar allowed for fast technology uptake. Zoomcar’s CEO traveled to Israel for the 2016 Global Investor Summit, where he was introduced through OurCrowd connections to Mobileye, the Israel-based mobility AI company which was acquired by Intel in 2017 for $15B. As a result, Zoomcar has incorporated Mobileye’s accident prevention tech in more than 10,000 vehicles, improving their product by reducing accidents by over 85%.
Startups often struggle with breaking down the walls of communication with the right target audience. Israeli companies in particular excel in innovation but fail to bring it to the attention of players in the field. EnVerid, a new air treatment technology, was seeking new ways to apply their ability to track oxygen and Co2 emissions in real time through wearables. They chose athletics as the hottest field to display their tracking capability, and through OurNetwork were introduced to both Fitbit and Under Armour, hugely popular companies with broad customer bases.
These bridges being built on OurNetwork are letting MNCs and startups to work hand in hand. OurCrowd is defined by its broad, multifaceted investor base and vast network of industry leaders. We continue this vision through the platform, and encourage all our partners and community members to sign up and take part.