NEW YORK--(BUSINESS WIRE)--June 29, 2000--THCG, INC.
(NASDAQ:THCG), a leading architect and builder of global Internet
enterprises, today announced that Zinook, its global econet for seed
stage companies, entrepreneurs, angel investors and service providers
has entered into an agreement with Microsoft Israel (NASDAQ:MSFT)
("Microsoft") in which Microsoft is to become a founding sponsor of
Zinook. Zinook (www.zinook.com) brings simplicity, efficiency and
speed to the process of seed investing on a global basis, combining
the three critical elements of THCG's unique V3 concept: Venture
Development, Venture Banking and Venture Funding. Together, Microsoft
and Zinook will seek to accelerate the development of selected next
generation Israeli technology successes.
As part of the agreement, Zinook's partner companies will benefit
from Microsoft's Start-up Development Program and will be eligible for
investment by Microsoft. Microsoft will correspondingly forward
interesting technology start-ups in their seed stage that are looking
for investment to Zinook. In addition, Microsoft, as part of its
Start-up Development Program, will provide professional assistance to
Zinook partner companies through its Israeli technology.
Tzachi Levy, Business Development Manager, Microsoft Israel, said,
"Microsoft believes Israel is one of the most promising global
technology centers producing a stream of technology innovations. As
part of Microsoft's corporate efforts to try to discover these
opportunities, we have partnered with Zinook. Zinook will become a key
partner in these efforts, helping us identify promising Israeli
technology companies that fit Microsoft's development roadmap. Zinook
has the experienced team and platform on which we can jointly develop
tomorrow's technology industry leaders."
Shuki Ehrlich, Zinook's President said, "We are pleased to partner
with Microsoft and are enthusiastic about the significant value that
Microsoft will bring to our partner companies, helping them accelerate
the development of their new ventures."
"Microsoft and Zinook are committed to supporting the development
of Israeli technology start-ups. Our combined resources will help
these companies overcome some of the significant hurdles that face new
ventures so that they can bring their technology to market more
quickly. For those companies that are looking to migrate to the US
market, we have the solution for their business creation needs in our
US THCG V3 team and related resources," said Larry Smith, President of
THCG, Inc. |
