Tata Partners with Tel Aviv University to Fund Leading Edge Innovations for Accelerated Commercialization

 Tata Partners with Tel Aviv University to Fund Leading Edge Innovations for
                        Accelerated Commercialization

  PR Newswire

  TEL AVIV, Israel, April 29, 2013

TEL AVIV, Israel, April 29, 2013 /PRNewswire/ --

Tata Industries will become the lead investor in Ramot's Technology Innovation
                                Momentum Fund

Ramot at Tel Aviv University Ltd. (Ramot), the University's tech transfer
company, and Tata Industries, a Tata group company, have entered into a
strategic Memorandum of Understanding (MoU) to fund and generate leading edge
'commercialization ready' technologies in a wide range of fields, including
engineering and exact sciences, environment and clean technology,
pharmaceuticals and health care.

Under the MoU, Tata Industries through its wholly owned overseas subsidiary
will be the lead investor in Ramot's US$ 20 million Technology Innovation
Momentum Fund, which will invest in promising breakthrough technologies.
Technologies with significant commercial potential will be selected by
committees comprising Global Domain experts and Tata representatives, who will
drive the process to translate such innovations into licensing opportunities
for Industry.

Tata Industries promotes the Tata group's entry into new and high-technology
businesses. It has initiated and promoted several Tata ventures in sectors
like control systems, IT, auto components, advanced materials, telecom
hardware and services. The Tata group, which champions deployment of
technology for consumer-centric benefits, operates in seven business sectors:
materials, engineering, IT and communications, energy, services, consumer
products and chemicals.

Mr. Shlomo Nimrodi, the CEO of Ramot, commented, "Being a lead investor, Tata
will be able to see a pipeline of technologies. They will have an option to
commercialize certain promising opportunities from Tel Aviv University (TAU).
The diversity of innovation at TAU, coupled with Tata's uncompromising
commitment, creates a major opportunity to impact communities across the
world."

Mr. K. R. S. Jamwal, Executive Director of Tata Industries, said, "Tata has
taken the decision to partner with Ramot and TAU with a desire to enhance
capabilities of Tata companies and leverage technology as a differentiator for
our businesses. An extensive due diligence process was conducted by CTOs from
major Tata companies prior to this MoU and we were encouraged by the
technological leadership, the passion and the commitment demonstrated by TAU.
During this process, the Tata team was exposed to more than 70 promising
innovations and had the opportunity to interact with leading scientists at
TAU."

Commenting on the development, the TAU President Prof. Joseph Klafter, said,
"We are extremely proud that Tata has selected TAU as its partner for
innovation. Our joint initiative sets an example for others to follow. The MoU
demonstrates TAU's long-term commitment to enhancing India-Israel relations.
TAU pioneered the prestigious India-Israel Forum in 2007 with CII and Aspen
India and this endeavor is bearing substantial fruits."

About the Tata group:

The Tata group comprises over 100 operating companies in seven business
sectors: communications and information technology, engineering, materials,
services, energy, consumer products and chemicals. The group has operations in
more than 80 countries across six continents, and its companies export
products and services to 85 countries. The total revenue of Tata companies,
taken together, was $100.09 billion (around Rs475,721 crore) in 2011-12, with
58 percent of this coming from business outside India. Tata companies employ
over 450,000 people worldwide. The Tata name has been respected in India for
more than 140 years for its adherence to strong values and business ethics.
Every Tata company or enterprise operates independently. Each of these
companies has its own board of directors and shareholders, to whom it is
answerable. There are 32 publicly listed Tata enterprises and they have a
combined market capitalisation of about $94.06 billion (as on April 11, 2013),
and a shareholder base of 3.8 million. The major Tata companies are Tata
Steel, Tata Motors, Tata Consultancy Services (TCS), Tata Power, Tata
Chemicals, Tata Global Beverages, Tata Teleservices, Titan, Tata
Communications and Indian Hotels.

About Ramot at Tel Aviv University Ltd.

Ramot is Tel Aviv University's technology transfer company and its liaison to
industry, bringing promising scientific innovations made at the university to
commercialize with industry. The company provides the legal and commercial
frameworks for inventions made by TAU faculty, students and researchers,
protecting discoveries and innovations with patents and working jointly with
industry to bring scientific innovations to the market.

About the India-Israel Forum

This annual gathering draws together policy makers and captains of industry in
order to explore areas of bi-lateral collaboration. The Forum is a joint
endeavor promoted by Aspen Institute India, Tel Aviv University (TAU) and the
Confederation of Indian Industry (CII). Support for the Forum has been
provided by the Pears Foundation, Stanley and Marion Bergman Family Charitable
Trust, the Aimwell Trust and a few corporate sponsorships including Tata. 

Media and Investors contacts: Ramot at Tel Aviv University Ltd. Dr. Tamar Raz,
VP Strategy & Marketing  tamar@ramot.org | P. +972-3-6406580 Tata Industries
Ltd. Debasis Ray/Sarika Kapoor Chokshi/Arushi Agrawal media@tata.com ; 
skchokshi@tata.com ; aagrawal@tata.com   P: +91-22-66658282/ 7891/ 7564
 
Press spacebar to pause and continue. Press esc to stop.