ETF News

Israel's JVP opens NYC cyber center, looks for similar hub in Europe

JERUSALEM, Feb 3 (Reuters) - Israeli venture capital firm Jerusalem Venture Partners (JVP) on Monday opened a cybersecurity center in New York City to help launch new companies, and said it was looking to build a similar hub in Europe.

JVP was chosen by the mayor’s office to drive a $100 million initiative aimed at creating high-tech jobs and transforming the city into a global leader for cybersecurity. It said it is working together with the mayor’s office and the Economic Development Corporation of New York.

JVP built its center in downtown Manhattan hoping to connect tech startups with investors, multinational companies and universities.

About 30 companies, half of them Israeli, are up and running in the center, said JVP Chairman Erel Margalit. He said the group is looking to duplicate the venture in Europe.

“We need a European gateway. There is a lot of energy from Israel to Europe,” Margalit said.

There are “two or three serious discussions” with European cities, particularly with London, he said. (Reporting by Ari Rabinovitch, Editing by Tova Cohen)