JOY Ventures, a new Israeli investment firm, has recently initiated a US$50 million vehicle centered on the emerging field of neuro-wellness, in addition to the inauguration of its office in Herzliya Pituach.
Founded by the Israeli-Japanese Corundum Open Innovation Fund, JOY Ventures will invest in developments offering scientifically validated technologies offering anti-stress and mood alteration solutions in addition to neuro wellness solutions, that can be turned into marketable products.
Additionally, the new fund will be headed by Avi Yaron, a serial entrepreneur, Founder of Visionsense and the inventor of a state-of-the-art instrument for complex brain surgery along with Beer-Sheva-based Incubit Technology Ventures’ Idan Katz.
Speaking on the vehicle, Yaron said, “Originally developed to make things easier for human beings, technology actually intensifies the tension we live in. For this reason, we decided to invest in neuro wellness by leveraging the large body of research and neuro developments in Israel.”
JOY Ventures will adopt a two-track approach, funding research grants of at least US$1.2 million per annum to academic research in the emerging field, startup companies, and technological incubators for entrepreneurs.
“We’re establishing a new ecosystem in the new industry of neuro-wellness,” Yaron said. “Our emphasis will be on the development of scientifically-proven products whose goal will be to help people manage and overcome chronic conditions.”
“Many years of being involved in the development of brain surgery technologies, made me realise the human need for joyful and relaxed moments and how critical they are for our health,” Yaron explains. “Many neuro researches show that the modern life intensity contributes to prolonged hostile emotions of sadness, anger, anxiety, guilt and more. These emotions, in turn, generate stress and collect a heavy toll from our health.”
By Vivian Foo, Unicorn Media