July 17, 2014 If there’s one sector that has yet to go green, it’s the fashion industry. But now and Israeli fabric printing company Kornit is encouraging designers to print their designs using their sustainable eco-friendly ink, beginning with the FIT in New York.
July 23, 2014 | Check Point Software Technologies, a world leader in securing the Internet, announced its financial results for Q2/2014, the second financial quarter of 2014. “We had a fantastic second quarter. Total revenues from products and software blades subscription delivered 10 percent growth, which was driven by strong demand across industries and business segments. We saw a nice up-tick in customer wins across the board with several very large customer contracts,” said Gil Shwed, founder, chairman, and chief executive officer of Check Point Software Technologies. Check Point reports a total revenue of $363 million, compared to $340 million in total revenue in the second quarter of 2013. Check Point is a world leader in securing the Internet, providing customers with protection against all kinds of threats.
July 23, 2014 | The TV Format Fund, created by Alon Dolev and the Rubicon Business Group six months ago, will invest $55 million in TV shows for their sale aboard. The fund hopes to capitalize on the recent success of Israeli TV pilots like “Homeland” by investing in new pilots being launched in Israel and selling them aboard, much like a venture capital firm in the world of high-tech. Dolev’s fund raised the initial funds from Rubicon, an investment group with stated interests in the finance, tourism, insurance and leisure, and hopes to bring in new investors, Dolev told Reuters. In addition, Dolev asserts that he hopes to invest in between 12-14 new shows each year. “We can return 60-100 percent of the investment from selling options,” Dolev said.
July 23, 2014 | Mobile messaging leader Tango announced two new initiatives to expand the company’s gaming publishing business. One is a $25 million Tango Global Games Fund and the other is the appointment of Jim Yang to vice president of games publishing. The Tango Global Games Fund will be predominately used to support the company’s new publishing strategy. Tango is a free mobile messaging service with more than 200 million registered users that continues to enhance its platform with innovative content for game developers, advertisers and others. Tango was founded in 2009 by CEO Uri Raz and CTO Eric Setton and is headquartered in Mountain View, California with offices in Beijing, China and Austin, Texas.
July 23, 2014 | The cross-platform language learning solution Lingua.ly announced that it has launched a free iOS application to make it even easier to learn new languages. The iOS app follows an existing Android and web application for the company’s platform that allows users to type and paste words in 18 languages in order to receive translation, along with lessons that help users remember what they’ve translated. Currently, Lingua.ly supports Russian, French, English, Spanish, Arabic and Hebrew, among other languages. According to company CEO and co-founder Dr. Jan Ihmels, “The availability of Lingua.ly on iOS confirms our commitment to provide an open and free language learning solution for users around the globe.”
July 23, 2014 | TipRanks, a stock analyst ranking company, closed Round A funding after raising $3 million. The investors in the company include former New York State Governor Eliot Spitzer, Cornell professor Roni Michaely and angel investor John Nakamura, among others. TipRanks ranks over 6,500 stock analysts and bloggers according to their rate of success with financial advice, average returns and consistency. The company employs machine learning techniques and natural language processing algorithms to scan the Internet and measure the performance of anyone who gives investment advice online. TipRanks was founded in 2012 by CEO Uri Gruenbaum and CTO Gilad Gad with $700,000 in seed money after realizing that there are not enough public information for investors on the track records of advisers and experts who provide financial advice online.
July 23, 2014 | According to a “Globes” report, the Mobileye initial public offering on Wall Street will be valued at approximately $3.8 billion after money. The original prospectus was for a valuation between $3.5-5 billion, making the actual valuation at the lower end of estimates. The company will offer 8.325 million shares at a price of $17-19 per share. The offering will most likely take place in two weeks, when the stock will be traded under the ticker MBLY on the New York Stock Exchange. Mobileye was founded in 1999 and has developed a camera-based system to mount on vehicles in order to aid in collision prevention.
July 22, 2014 | Students at Israel’s College of Management in Rishon L’Zion successfully developed an application that can detect Parkinson’s disease and help those effected get treatment. AbbVie Pharmaceutical Research & Development company, and international company, entered into cooperation with the College of Management’s school of computer sciences and the result was an application which can detect and aid Parkinson’s patients from afar. The application they developed allows Parkinson’s patients to go through a number of exercises recommended by their doctors to keep their minds sharp and in shape. In addition, the application reports patients’ process back to their doctors in order to assess what kind of treatment they should be given. Now AbbVie is considering marketing the application, according to the College of Management.
July 22, 2014 | SuperSonic Software announced the close of its second round of funding at $15 million. The top investor in this round is one of China’s largest venture capital firms, SAIF Partners, as well as Greylock, bringing total investment in the company to $23.2 million since the company was founded in 2009. SuperSonic’s main product is a cloud-based software development kit enabling mobile application developers to include advanced features like streaming interactive advertisements in their applications. As SuperSonic CEO and co-founder Gil Shoham told VentureBeat, “We have identified several interesting opportunities that … will significantly improve user acquisition effectiveness and ROI.”
July 22, 2014 | The online real estate startup Urban Compass announced that it raised $40 million in its latest funding round. This is a Series B funding round for the company with participation from Salesforce CEO Marc Benioff and Advanced Publications. The total amount raised by the company to date comes to $73 million. The new funds will be used by the online marketplace for renting, selling and buying apartments to expand its service beyond New York City, where the startup began in 2012, to other metropolitan US locations like Boston, Chicago and San Francisco. According to a “Bloomberg” report, the new funds place Urban Compass’s valuation at $360 million.
July 21, 2014 | A delegation of Israeli gaming startups will head for the United States and Canada in cooperation with the Ministry of the Economy. The startups hope to pitch their technologies and receive investment from large companies and investors like Google, Apple, Facebook, Sony, Amazon, Ubisoft and others at the Casual Connect conference in San Francisco this week. Some of the Israeli startups that are part of the delegation include TabTable, Side-Kick, and other companies that facilitate the promotions of games and apps like TROPHiT and DAU-UP. The delegation was organized by the Ministry of the Economy’s Invest in Israel initiative and the Israeli digital game developers’ association GameIS.
July 21, 2014 | The Israeli mobile marketing platform Singular announced that it closed a $5 million seed funding round. In addition, the company announced the launching of a platform to enable mobile marketers to concentrate all of their marketing tasks into one easy-to-navigate dashboard. The funding came from General Catalyst Partners and will be used by the company to continue product development, hiring and the innovation of the mobile marketing space. Singular was founded by former Onavo executives CEO Gadi Elishavov, CTO Eran Friedman and COO Susan Kuo, a mobile application analytics company that sold to Facebook for $150 million.
July 21, 2014 | According to a “Globes” report, Mobileye collision prevention solutions provider has updated is Wall Street IPO filing with first quarter 2014 results and a list of current shareholders. Mobileye expects the offering at a company value of $3.5-5 billion, especially since the revenue keeps rolling in for the company. “Globes” reports that Mobileye’s first quarter revenue rose by 204% from the corresponding quarter due to a spike in sales to automakers like GM, Nissan, Ford and Volvo, among others. Mobileye is an Israeli startup that has developed a system based on camera and artificial vision technology for automobiles with the purpose of preventing accidents.
July 20, 2014 | The Helmsley Charitable Trust donated $1.75 million in grants to two Israeli institutions that aid disabled children and adults as well as their families. One million dollars was granted to Shalva, an Association for Mentally and Physically Challenged Children in Israel, for the construction of a dining hall and events hall for the organization’s National Children’s Center located in Jerusalem. The rest of the funds went to Beit Halochem in Tel Aviv for the creation of a professional hydrotherapy facility and renovations to their existing facilities. The Helmsley Charitable Fund has donated grants to various causes in Israel since 2009, with over $112 million committed to a range of charitable organizations.
July 20, 2014 | The social app Yo! raised $1.5 million in seed funding, valuing the application at $10 million. Yo! also reported the names of its investors, which they have kept undisclosed thus far, including Betaworks, Mashable’s Pete Cashmore and the founders of China’s Tencent, among others. In addition, one of the founder’s of the company, Mobli CEO Moshe Hogeg also invested in the company. According to Yo! the funds will be used to expand operations in San Francisco, and to hire a team of engineers and business developers. Over 2 million people worldwide have downloaded Yo!’s application worldwide since its release last month.
July 20, 2014 | The businessman Mori Arkin is in talks to buy Sol-Gel Technologies, a company that developments skincare products using nanotechnology, according to a “Globes” report. If talks continue and the deal goes through Arkin will purchase Sol-Gel for an estimated total of $10 million if milestones are met. Founded in 1997, Sol-Gel is managed by Dr. Alon Seri-Levy and has invented a way to use nanotechnology in order to allow skincare products to actually penetrate the skin, with products for common conditions like rosacea and acne.
July 17, 2014 | The Israeli gifting website Jifiti announced that it will partner with electronic invitation website Evite to allow invite recipients to send gifts through the same platform. Evite is a leading digital invitation and party planning platform that has over 200 million annual electronic invite recipients in its database. Jifiti’s main technology called ‘Gift It’ allows guests to browse and select gifts from retailers like Sephora, Amazon, Nike, Banana Republic and Toys ‘R’ Us and instantly send someone a digital ‘gift card’ for in-store or online redemption. Jifiti was founded in 2012 by Yaakov Martin, Meir Dudai and Shaul Weisband and to date has raised $3.5 million in funding.
July 17, 2014 | According to a “Bloomberg” report, Microsoft is in talks to the Israeli cyber security company Aorato for $200 million. The talks are reportedly in an early stage as Aorato continues to negotiate sale with other companies as well. According to most sources, Aorato will be sold for approximately $200 million. Earlier this week, NoCamels reported that Aorato had identified a major security bug in Microsoft’s Active Directory, which would allow passwords and other sensitive information to be extracted and changed.
July 17, 2014 | Alcobra Pharmaceuticals filed a prospectus for a $100 million offering on NASDAQ. The company has developed alternative drugs for the treatment of ADHD based on its research. In May 2013, Alcobra’s IPO raised $25 million at a company value of $89 million. As of today, Alcobra is worth $260 million. The filing for the offering comes as Alcobra announces patient recruitment for Phase III clinical trials for its treatment for ADHD.
July 17, 2014 | Israeli cross media company Screenz announced that it raised $5 million in a recent financing round. Screenz develops complementary applications for the media. The funding came from Marker LLC and will enable Screenz to expand its research and development, accelerate the growth of the company’s technological abilities and expand global activities in order to enter new markets. Screenz invented the technology that powers ABC’s “Rising Star” reality show, which has talent contestants perform and get votes in real-time from viewers all around the globe. Screenz also recently joined forces with Google to expand the reach of its real-time voting technology.
July 17, 2014 | The smart payment technology provider Zooz announced that it raised $12 million in a recent financing round that was led by Blumberg Capital, XSeed Capital, lool ventures, Rhodium, and new investors Access Industries and Camp One Ventures. Zooz hopes to use the funds to continue the development of its product, scale up operations and open new offices. Zooz’s technology provides advanced payment technology by enhancing and optimizing the existing payment infrastructure of enterprise-sized businesses, enabling them to accept flexible payments in-store and online. Founded in 2010 by Oren Levy and Ronen Morecki, Zooz’s offices are located in Herzliya Pituach.
July 17, 2014 | The Israeli company SuperCom has filed a prospectus with the US Securities and Exchange Commission for a NASDAQ offering set to raise up to $50 million. The electronic and radio-frequency identity solutions provider’s stock rose by 1,400 percent in the past 18 months, giving the company a market cap of $121 million. The terms of the offering have not yet been disclosed and could include shares, options, bonds or a combination of the three. Founded in 1988, SuperCom provides traditional and digital identity and security solutions.
July 17, 2014 | Intel announced that it will transfer 360 of its employees in Israel to Ireland for the period of 12-24 months. According to a “Globes” report, Intel originally planned to send only 60 Israelis to help the beginning of operations at the Dublin plant. The Israeli employees will relocated to Dublin together with their families. Intel is one of the pioneers in the Israeli high-tech sector, training future engineers and significantly contributing to the local Israeli economy.
Israeli-American company JFrog, which provides software developers with a binary repository management solution, has raised $7 million to better software development and distribution. JFrog, based in Israel and California, is the creator of Artifactory and Bintray; the company that provided the market with the first Binary Repository solution and software distribution social platform. The company’s clients include Apple, Twitter, LinkedIn, Google, The Gap and more.
July 15, 2014 | OurCrowd, the Israeli venture capital crowdfunding platform, announced that it has raised $60 million in equity for 46 companies since its founding. Twenty of those companies raised more than $1 million each in investments, and four companies raised well over $3 million using the OurCrowd platform. OurCrowd’s roster of supported companies includes ReWalk, Consumer Physics (the creators of SCiO), BioCatch and Abe’s Market. CEO of OurCrowd Jon Medved stated, “We are proud to have raised these amounts in just 16 months since launching. These numbers demonstrate that our model works and can be effectively used for major funding rounds. The fact that OurCrowd has deployed more money for our companies than our Silicon Valley competitors proves that we are indeed at the forefront of equity crowdfunding innovation.” OurCrowd is a hybrid VC-equity crowdfunding platform for accredited investors who wish to invest in Israel and global early stage companies.
July 15, 2014 | Israeli cyber security firm Aorato announced the discovery of a critical design flaw in Microsoft’s Active Directory. The Microsoft software is widely used to provide network access, but the company asserts that the design flaw is known and that there are defenses in place to prevent identity fraud. Aorato discovered that passwords could potentially be changed by hackers due to bugs in Active Directory. “The dire consequences we are discussing–that an attacker can change the password–was definitely not known,” stated Tal Be’ery, Vice President of Research at Aorato. In addition, Aorato noted that about 95 percent of Fortune 500 companies use Active Directory making the problem “highly sensitive.” Aorato is an Israeli company specializing in Microsoft technologies with intimate knowledge of Active Directory from a cyber security perspective.
July 15, 2014 | According to the IVC Research Center, Israeli high-tech companies raised $930 million in the second quarter of 2014, the highest quarterly amount since 2000. The amount was raised by over 175 Israeli high-tech companies in Q2/2014, a 38 percent jump from the $673 million raised in the first quarter of 2014 and 109 percent above the $446 million attracted to Israeli tech in the second quarter of 2013. Each company averaged a financing round of $5.3 million in Q2/2014. The figures include a $135 million investment in Landa Digital Printing by Germany’s ALTANA Group.
July 15, 2014 | Israeli company Toonimo announced that it raised $2.5 million in funding. Toonimo offers animation services to websites and companies that want to instruct their visitors using a cartoon character that can guide them through the site and answer questions. Companies can customize the cartoon character they want on their site, decide when they should appear on the site, and decide upon their script. The entire cartoon character is contained in one line of code provided by Toonimo to its clients. The funding round was led by Tuvia Barak of Lux Partners. Toonimo was founded by CEO Ohad Rozen, the founder of Wilocity, which was recently acquired by Qualcomm, and CTO Dan Kotlicki.
July 15, 2014 | The US Food and Drug Administration (FDA) is set to review Teva Pharmaceutical Industries‘ drug application for the treatment of asthma, the albuterol multi-dose dry-powder inhaler (MDPI). According to a “Globes” report, the inhaler will be used to treat patients of 12 years of age or older for bronchospasm. Teva VP of Global Respiratory R&D Tushar Shah said, “If approved, albuterol MDPI would become the first breath-actuated dry-powder symptomatic and rescue inhaler available to asthma patients. As the current market-leader in asthma rescue inhalers, it is our hope that the new dry-powder innovation utilized with albuterol MDPI will help fill an unmet need in the existing asthma market.”
July 15, 2014 | Magentrix, a Canadian company specializing in self service portals for organizations and companies, announced that CloudCom will be its sole representative in Israel. The move strengthens CloudCom’s position in the market as the company by providing cloud storage solutions such as Zendesk and Box. CloudCom was founded by Israeli David Alush and is based in Ra’anana, Israel.
July 14, 2014 | Apple won the patent trial against Israeli company Emblaze, finding that the former did not infringe the latter’s patent on live streaming video. Emblaze asserted in the case that Apple had forced major organizations and companies, like Major League Baseball, to adopt a live streaming video platform that infringed the company’s patent. The judge presiding over the case in San Jose, California found Apple not guilty of patent infringement following Apple lawyer Mark Fowler’s argument that Emblaze is a failed company going after Apple because of its success. Emblaze Group was founded in 1993 in Israel as a software company developing computer-based training, which today focuses its efforts on expanding live video streaming platforms.
July 14, 2014 | Dassault Systèmes acquired the Munich-based company SIMPACK, a technology leader in multi-body simulation technologies and solutions. Dassault Systèmes, the 3DEXPERIENCE Company, is a world leader in 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions based in France. SIMPACK has over 130 clients in the automotive, energy, rail and aerospace industries including BMW, Daimler, Honda, Jaguar and Land Rover among others. The amount of the acquisition has not yet need disclosed. SIMPACK is based near Munich, Germany
July 14, 2014 | ReWalk Robotics filed for an initial public offering on NASDAQ to raise $58 million, with a company value of $250-300 million after money. According to a “Globes” report, the company recently changed its name from Argo Medical Technology to the name of its major product, the ReWalk Exoskeleton, a device that allows paraplegics to walk upright. The device was invented by Dr. Amit Goffer whose startup Odin sold to Medtronic for $9 million in 1997 and who himself is paralyzed. The ReWalk device recently received Food and Drug Administration (FDA) approval for the sale of its device in the United States.
July 13, 2014 | The Israeli video streaming platform RayV was acquired by Yahoo for an undisclosed amount. Rumors of the sale date back to May of this year, which became official this past Friday. The RayV team will join Yahoo’s Tel Aviv research and development team. Founded in 2005 as a competitor to Joost, RayV specializes in streaming high-quality video to computers and mobile devices. The Israeli startup has raised over $16 million to date.
July 13, 2014 | Israel Chemicals and Dutch company AkzoNobel have signed an agreement to cooperate in the long-term production and marketing of vacuum salt and white potash. According to a “Globes” report, the two companies signed a non-binding Memorandum of Understanding calling for the production and marketing of 1.5 million tons of vacuum salt and 50,000 tons of white potash. Israel Chemicals has begun the construction of a production facility for the products at its mining facility in Suria mine, Catalonia, Spain.
July 13, 2014 | Google Ventures investment fund announced that it will open a branch in Europe that will have $100 million to invest in startups and ventures in the continent. Although Google did not explicitly mention Israel as within the scope of the venture fund, sources reported to “Globes” that Google will use the fund to invest in Israeli startups and companies as well. Google Ventures was launched in 2009 and currently works with over 250 companies in the United States. To date, the company has invested in startups like Uber, Nest, which was acquired by Google, Parse, which was acquired by Facebook, and the Secret social network among others.
The American company ServiceNow which offers a platform-as-a-service provider of IT service management software acquireed the Israeli automatic business service management (BSM) Neebula for $100 million.
Neebula’s flagship product, ServiceWatch, automates the discovery, mapping, and monitoring of IT-enabled enterprise services. This addition will become an integral part of the ServiceNow IT Operations Management portfolio. “Neebula is very excited to be part of the ServiceNow team,” said Yuval Cohen, co-founder and CEO of Neebula. “We had a vision to transform the ITOM market by automating the creation and maintenance of service models.
July 9, 2014 | Social feedback platform GetYou raised $1.1 million in seed funding. The Israeli application was launched this past Tuesday and aims to give social feedback by providing a platform that allows users to judge others’ profiles and receive feedback on their own. Founded in 2013, the startup raised the funds from RDSeed and Wix founder Avishai Abrahami.
July 9, 2014 | DSP solutions provider Ceva acquired French company RivieraWaves for $19 million. RivieraWaves is a privately-held company that creates solutions for wireless connectivity IP for WiFi and Bluetooth technologies. Ceva hopes that RivieraWaves will expand the company’s licensing and royalty revenue base tby improving the service of devices like smartphones, tablets and small cells. The acquisition will also allow Ceva to extend its domain into the sectors of wearable technology and Internet of Things devices in the home and car. According to ABI research, Ceva’s addressable market is set to reach 35 billion connected devices by 2020.
Ceva was founded in Israel but is headquartered in Mountain View, California with design centers in Israel, Ireland and sale and support offices in Europe, the United States and Asia.
July 9, 2014 | Applitools, a platform that allows cloud-based automated visual testing of web and mobile applications, raised $2.5 million in Series A funding from Magma Venture Partners. Applitools platforms allows users to automate application tests that usually would be conducted manually, seeing how the app would appear on a browsers, devices and more.
Applitools was founded by CEO Gil Sever and Vice President of R&D Adam Carmi.
July 9, 2014 | Matomy Media Group raised a total of $70 million following their initial public offering (IPO) on the London Stock Exchange. Following the offering, the digital ad company was valued at $347 million. The offering closed just after one day at a price of 227 pence ($3.89), with Matomy offering up 21 percent of the company to new investors.
Matomy was founded in 2007 by Ofer Druker and is controlled by Ilan Shiloach and specializes in digital and mobile advertising.
July 9, 2014 | Top Image Systems acquired the American cloud-based data and document management solutions company eGistics for $18 million. According to the agreement between the two companies, Top Image Systems will pay half of the sum in cash and half in company shares. eGistics, based in Dallas, Texas, provides advanced image and data solutions that enable businesses to streamline storage, management and the delivery of information.
Top Image Systems specializes in Enterprise Content Management (ECM), Business Process Management (BPM) solutions and is a Mobile Imaging Platform (MIP) provider. The company was founded in 1991 by Executive Chairman Izhak Nakar and is currently publicly traded on NASDAQ and the TSE.
July 9, 2014 | Perion application development platform will partner with cloud-based security company CYREN. Perion hopes to use CYREN’s online security services to expand Perion Codefuel’s, Perion’s software monetization solutions unit, suite of browsing and security applications.
Perion, formerly IncrediMail, is a global consumer software company founded in 2000 by Yaron and Ofer Adler.
July 8, 2014 | Two Israeli-founded navigation applications, Waze and Moovit, have been working hard to provide users at the World Cup in Brazil with all of the information on how to arrive at the games on time. According to a “Forbes” report, now the government of Brazil is making use of the popular navigation applications to discover information about the passengers and drivers on the roads. According to the Brazilian government, the goal is to manage traffic on the roads and between pedestrians using Waze, the Google-owned automobile navigation application, and Moovit, a public transportation navigation application. The Brazilian Government is also considering tracking a cycling application called Strava to monitor how bikers are traversing the city.
July 8, 2014 | Israeli company Orbotech has signed an agreement to acquire UK-based SPTS Technologies Group from European private equity group Bridgeport and others for $370 million. SPTS specializes in the production of etch, deposition and thermal processing equipment for the microelectronics industry. Orbotech, the producer of automated optical inspection equipment based in Yavne, Israel, hopes to accelerate its growth, to move up the electronic value chain, and to increase its presence in Europe and North America following the purchase.
July 8, 2014 | The share price of Camtek rose by more than 22 percent on the Tel Aviv Stock Exchange yesterday (Monday) in anticipation of the launch of the company’s newest semiconductor inspection and metrology platform. The company will launch the Eagle semiconductor inspection and metrology platform today at the Semicon West tradeshow in San Francisco. Headed by CEO and Chairman Rafi Amit, Camtek provides automated solutions to enhance production processes in the industries of semiconductor fabrication and packaging and in the printed circuit board and IC substrates industry (nanotechnology).
July 8, 2014 | The cancer treatment drug developer Biocancell has plans to raise $28.8 million in a rights issue. Biocancell’s majority shareholder Clal Biotechnology Industries announced that it will buy about $14.4 million in shares, which is likely to dilute the value of the company’s shares. Currently, Biocancell’s stock is being offered at NIS 2.4 a share. A year and a half ago, Clal Biotechnology was in talks with Biocancell to move towards acquisition, but withdrew its proposal after Biocancell decided to license its most advanced product for the treatment of bladder cancer to a different company. Founded in 2004 by Prof. Avraham Hochberg, a professor of molecular biology at the Hebrew University in Jerusalem and is currently headed by CEO Jonathan Burgin.
July 8, 2014 | After signing a $500 million agreement with pharmaceutical company Bayer HealthCare last year, Compugen announced that it received its first payment of $1.2 million for reaching a cancer immunotherapy milestone. The $1.2 million is only a fraction of the nearly $30 million in milestone payments that Comupgen is set to receive from Bayer. The collaboration between Compugen and Bayer is aimed at developing and commercializing therapeutic antibodies originally discovered by Compugen.
Compugen was founded in 1993 by Eli Mintz, Simchon Faigler, and Amir Natan as a drug discovery company, but also engages in the development and marketing of bioinformatics software platforms.
July 8, 2014 | The Israel-US Binational Industrial R&D Foundation (BIRD) announced that it will invest up to $9 million in 11 new projects in the areas of 3D printing, agro-technology, information security, and homeland security, among others. During a meeting of the BIRD Board of Governors $8.9 million in funding was approved for 11 new cooperative projects between American and Israeli companies. The companies will also be able to receive private sector funding, putting the total value of all of the projects at about $25 million. Some of the cooperative projects include those between ColorChip, based in Yokne’am, and Gigoptix, based in San Jose, as well as between Genome Compiler and Amyris, Stratasys and Graphene Technologies. The BIRD Foundation looks to promote collaboration between Israeli and American companies in various technological fields for the purpose of joint product development.
July 8, 2014 | Israeli company Orgenesis, a leader in the fields of cellular therapy and re-generative medicine, signed an agreement with Belgian company MaSTherCell to produce a treatment for diabetes. The Orgenesis subsidiary in Belgium, Orgenesis SPRL, signed an agreement to scale the manufacturing of insulin-producing liver cells to combat diabetes in preparation for Phase I and Phase II clinical trials. Founded by Israelis but now based in the United States, Orgenesis is a development stage company that seeks to cure Type I Diabetes through cellular therapy and regenerative medicine, a process called ‘trans-differentiation.’
July 7, 2014 | The Office of the Chief Scientist, a branch of the Ministry of the Economy, announced that it will invest NIS 70 million in the development of Israel’s chip production sector. As the number of Israeli-based chip companies diminishes, the Chief Scientist announced that NIS 70 million will be invested over a period of five years in order to revamp the sector with new academic research and industrial bodies. The money will go towards the leading Israeli chip companies which include CEVA, Sargon, EZChip and more, encouraging them to work together to reboot the Israeli chip sector.