Tata Industries, a division of India’s largest conglomerate, has committed $5m to an Israel-based university venturing fund to help commercialise its research.

Tel Aviv University’s (TAU) technology transfer company, Ramot, will manage the Technology Innovation Momentum fund, which is targeting $20m in size.

The fund will back and develop “commercialization ready” technologies in a wide range of fields, including engineering and exact sciences, environment and clean technology, pharmaceuticals and health care.

Tata operates in seven business sectors: materials, engineering, IT and communications, energy, services, consumer products and chemicals. Tata Industries helps its parent enter new and high-technology businesses, such as control systems, IT, auto components, advanced materials, telecom hardware and services.

KRS Jamwal, executive eirector of Tata Industries, said: “An extensive due diligence process was conducted by CTOs [chief technology officers] from major Tata companies prior to this MoU [memorandum of understanding] and we were encouraged by the technological leadership,…

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