With a $4M investment, McCann Worldgroup has bought a 15% stake in Israeli incubator ‘thetime‘.
This move isn’t a particularly surprising considering ‘thetime’ was founded by Ilan Shiloah, who for the past 10 years has been chairman of McCann Erickson Israel. ‘thetime’ was also co-founded by angel investor, Nir Tarlovsky. Uri Weinheber, previously of Lab One, acts as the incubator’s CEO.
A Chief Scientist licensed incubator, the stated objective of the ‘thetime’ is new media investments (although this seems not to be a hard constraint). The current portfolio consists of 30 startups, including Tawkon & SohoOS.
This is of course great news for the Israeli startup ecosystem, which over the past couple of years has seen a substantial increase in early-stage investment outfits and accelerators.
thetime is an investment company focusing on young innovative technology startups in the areas of Telecom, Internet, Media and Entertainment (T.I.M.E.). thetime shareholders include Ilan Shiloach, Nir Tarlovski, Uri Weinheber, Ofer Druker, Iris Beck, Udi Pridan, Shira Margalit and others. We invest, usually an initial sum of $500-$1M, in a new generation of companies, developing digital products or services that can be distributed through digital channels or over the web. thetime partners include McCann - Erickson, the world’s largest and most...
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