Global equity crowdfunding platform OurCrowd has formed a partnership with the Maryland / Israel Development Center (MIDC) to boost investment in Maryland companies while aiding OurCrowd portfolio companies. MIDC will now assist OurCrowd companies with their market entry in the US. OurCrowd founder and CEO Jon Medved will be discussing the new partnership as part of a presentation in Washington, DC on February 27th.
“We’re excited about the partnership with OurCrowd,” said MIDC Chairman Rob Frier. “It will give Maryland companies access to a potential new funding source and help Israeli companies enter the U.S. market further expanding the Maryland/Israel trade relationship.”
Since its launch two years ago, OurCrowd has raised over $100 million and invested an average of $1.6 million in 56 companies. OurCrowd has established itself as a major international leading force in the equity crowdfunding industry with 7,000 investors from 94 countries. The company was the top ranked equity crowdfunding 2 platform on KPMG’s top 50 FinTech innovator list.
“Israel is known as the StartUp Nation. With the US Chamber of Commerce’s ranking of Maryland as the #1 state for entrepreneurship and innovation for the third consecutive year, Maryland is really the StartUp State” said OurCrowd Founder and CEO Jon Medved. “It’s appropriate that we work together to commercialize technology, build companies and create jobs.”
OurCrowd has also invested in Trendlines, the MIDC’s Israeli investment partner. Among Trendlines’ investments is Johns Hopkins University’s “LapSpace” technology, an inflatable balloon retractor for use in laparoscopic procedures. Trendlines has twice won Israel’s Best Incubator of the Year award with many of its companies receiving the Best StartUp award.
“Technology commercialization is a global enterprise,” said Maryland Secretary of Business and Economic Development (DBED) Mike Gill. “Capital flows to good ideas wherever they are found. The MIDC-OurCrowd partnership shows that Maryland and Israel share strengths in creative scientific discovery that attracts global investment capital.”
The Maryland/Israel Development Center is a non-profit membership organization that promotes trade and investment between Maryland and Israeli companies. It is a public-private partnership of the Maryland Department of Business and Economic Development, Israel’s Ministry of Economy and Trade and The Associated: Jewish Community Federation of Baltimore. TheMontgomery County Dept. of Economic Development is an additional partner.