Mossad launches fund to invest in firms developing spy tech

Israeli spy agency creates fund to invest in tech firms

Israel's Mossad spy agency is starting a fund to invest in technology firms creating products that could assist its work, including those involving robotics and encryption, the prime minister's office said Tuesday.

Mossad was seeking technologies in various fields that include robotics, miniaturization and encryption and automated methods of gleaning information from documents, according to a government statement released Tuesday.

A statement by the new fund, called Libertad, said it would be willing to give grants of up to 2 million shekels per project in exchange for non-exclusive rights to the technology, Japan Times reported.

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"We are looking for companies that are dealing in areas we are interested in, that are at the beginning stages, with a good idea and a good staff", said a Mossad employee identified as "Aleph" on a conference call with reporters. In 1999, the U.S. Central Intelligence Agency established IQT, a non-profit investment fund aimed at accelerating the development and delivery of new technologies to U.S. government intelligence bodies.

It said Libertad would be open to anyone and provided an email address to submit proposals ([email protected]), adding that it would offer up to two million shekels ($570,000, 500,000 euros) for projects.

The Israel Security and Intelligence Service (Mossad) contends with complex and dynamic challenges in many spheres of activity. Its advanced defence industry, led by Elbit, Israel Aerospace Industries, Israel Military Industries and Rafael, accounts for about 14 percent of the country's exports.

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