November 20, 2017 | China is looking for more areas of cooperation with Israeli startups, with a focus on technology related to smart cities, aging tech, robotics and 3D printing, according to a report in the Chinese news agency Xinhua. Israeli and Chinese entrepreneurs gathered in Haifa on Sunday for the 6th China-Israel Hi-tech Investment Summit, a yearly conference that also brings together officials and academics to discuss potential cooperation opportunities. Haifa Mayor Yona Yahav said: “We enjoy every moment of this collaboration and this summit here shows that we have a good ground to enlarge the relations,” according to Xinhua. The summit, which “aims to encourage commercial and technological corporation and to promote investments between China and Israel,” was organized by the Israeli company Messila – Medical Startup Academy.
At the event, the Chinese company Huafa Group signed a memorandum of understanding with the Haifa Economic Corporation for future collaboration in the fields of smart cities and “life sciences.” according to the report, which indicated that China is especially interested in aging technology, given its increasing elderly population. Ties between China and Israel have been flourishing in recent years. China hosted “Israel Culture Week” last week to mark 25 years of diplomatic relations between the two countries. The event was part of the 19th China Shanghai International Arts Festival
China has also been seeking Israeli talent and know-how, with at least seven Chinese multinational corporations opening up R&D or innovation centers in Israel over the past three years according to a recent report by Start-up Nation Central, including electronics giant Haier and Huawei, which also bought Israeli startup Hexatier for a reported $42 million last year.
November 20, 2017 | Israeli startup acquisitions by foreign investors from July-September 2017 have hit a record, posting its highest numbers since the dot.com bubble in 2000. Figures published by the Central Bureau of Statistics show startups volume reached an almost $1.6 billion peak in the third quarter. Research was also conducted by Harel Insurance Investments and Financial Services showing that the quarterly figure for exits is the highest reported in Israel other than in 2000 — 17 years ago. Harel chief economist Ofer Klein says this may be cause for concern for Israel’s economic leaders because once companies are moved out of the Israeli economy, future contribution will be lost. While sales of these companies bring dollars into the economy, they will be lacking in import and export accounts, exports of goods, and revenue, he said. [Photo: 3333873]
November 20, 2017 | US authorities are seeking help from Israel in their investigation into insider trading surrounding the sale earlier this year of the Israeli-founded company Mobileye to Intel for a whopping $15.3 billion. The US Securities and Exchange Commission (SEC) petitioned the US District Court for the Southern District of New York to ask Israel investigators for testimony from four Israeli nationals suspected of the insider trading in the case, Haaretz reported. Mobileye founders Amnon Shashua and Ziv Aviram were questioned by SEC authorities earlier this year on suspicion of passing on non-public information about Intel’s offer to friends and acquaintances who are believed to have profited illicitly from the deal. They have denied the suspicions against them. Mobileye was founded in 1999 in Jerusalem by Shashua and Aviram and went public in 2014. It developed a warning system that alerts drivers of road hazards using software, cameras, and sensors.
November 20, 2017 | During a visit to the World Bank headquarters in Washington D.C., Israel’s Minister of Economy and Industry Eli Cohen signed an agreement with the World Bank to bring Israeli agricultural technologies to Africa. The agreements will focus on ICT, water, and agriculture to encourage developing countries to adopt Israel’s innovative approaches and technologies. Two additional representatives from Israel’s Ministry of Economy will be sent to Kenya and Ghana in 2018. The meeting was preceded by additional events to launch a new cooperation agreement between Israel’s Ministry of Economy and the agricultural unit of the Bank. In July 2016, the Israeli government transferred funds for knowledge-sharing activities in water, cyber protection, and agriculture, in order to strengthen ties with Africa, which was followed up by the signing of three agreements with the World Bank. The agreement enables Israeli companies in these fields to participate in World Bank projects in Africa. Cohen also signed an agreement to expand the “Tech Emerge” program, established in 2015 to help bring innovative technologies to emerging markets.
November 20, 2017 | An Israeli PhD student at Ben-Gurion University of the Negev has made the global list of most prolific inventors, the university announced Monday. Assaf Natanzon, who studies in the Department of Computer Science has registered 202 patent families in the fields of storage systems and data protection and has 200 pending patent. He is the first Israeli to make the list, which is dominated by American inventors and includes Thomas Edison. Natanzon said he plans to reach 1000 patents, according to a statement sent by the university. Natanzon’s patents were registered for work he has done for Dell EMC as VP Advanced Technology and Investment evaluation EMEA, Distinguished Engineer. Natanzon said he was “proud to be the first Israeli to make the list of Prolific Inventors. I already have 202 registered patents and 200 pending ones; my next goal is to reach 500 and then 1000 patents. Most of my patents are in the area of data protection and disaster recovery, which is also the subject of my PhD thesis which I have recently submitted.”
November 19, 2017 | Microsoft will hold its cloud conference Microsoft Tech Summit on November 29 and 30 at the Tel Aviv Convention Center. The conference will present the latest trends in Microsoft Cloud. It is the main conference Microsoft will hold this year, with a participation of 2,000 developers, IT professions, students, and technologists speaking on subjects like IT infrastructure, cloud application, artificial intelligence, and more. Conference attendees will be able to experiment with cloud technologies in special Hands-On labs. Special guests such as Scott Guthrie, Executive Vice President of the Cloud and Enterprise group in Microsoft, Julia White, leading product management of Microsoft’s Cloud Platform including Microsoft Azure, and Microsoft 365 Product Manager Brad Kev and more will be on hand to give lectures, workshops, and demos showcasing Microsoft’s most recent innovations and launches, including Cloudyn, an Israeli company recently acquired by Microsoft within their management portal Azure.
November 19, 2017 | Israeli agro-biotech company Rahan Meristem recently established a joint venture with leading indoor plant growth tech company Future Farm Technologies. The Canadian company will provide funding and an indoor, air-conditioned laboratory in the United States or Canada so that the Israeli-founded company can continue its proprietary technology to mass produce cannabis clones and hemp plants that can be sold for medical purposes worldwide. Rahan has already produced elite clones of bananas, plantains, and other plants for customers around the world, Future Farm Technologies CEO Bill Gildea noted. These clones are tissue cultured produced plants genetically identical to the plant they were taken from. Rahan can create exact replicas of their best plants, with the same characteristics. A positive by-product of the joint venture is that the plants will be patentable and the two companies have agreed to share in the profits.
November 19, 2017 | Premium cars manufacturer Daimler opened a Mercedes-Benz research and development facility in Tel Aviv, Reuters reported on Thursday, November 16. The center will focus on digital vehicle and mobility services. Financial details of the arrangement were not disclosed. The Tel Aviv Mercedes-Benz R&D center and Daimler IT have already partnered with “The Bridge” accelerator program to better recognize and act on customer demands quickly. In September, Daimler’s van division invested $50 million in a joint venture with Israeli-US ride-hailing startup Via. Founded in 1883, Daimler is one of the biggest producers of premium cars and the world’s biggest manufacturer of commercial vehicles worldwide. [Photo: Toby_Parsons]
November 16, 2017 | The Israel Tax Authority confirmed that it will send tax bills to tech giants Google and Facebook “within a year,” as other countries, notably those in the European Union, grapple with the same issue. Moshe Asher, the chairman of the Tax Authority told Israeli media that “ultimately, taxes can be charged based on their operations in Israel. Our goal is to obtain as much data as we can, even if many of these figures are held outside of Israel. Within a year we’ll issue these companies tax bills.” Asher said Israel believes “in the process, and ultimately we’ll be able to issue justified tax bills, even if we’re among the first in the world.” Both companies have Israel-based operations.
November 16, 2017 | Israeli-founded content promotion company Outbrain will appoint David Kostman as co-CEO of the firm. Kostman will join CEO and co-founder Yaron Galai. Kostman is a member of Outbrain’s board of directors since 2014 and will continue the role even as he steps up to CEO. He is also the chairman of the board of cybersecurity firm NICE and a director at companies like adtech firm IronSource. The New York-based Outbrain is one of the top online content discovery and promotion companies in the world. It was founded by Ori Lahav and Yaron Galai in 2006.
November 16, 2017 | South Korean giant Samsung opened a cybersecurity center for cars in Israel, in cooperation with Ben-Gurion University of the Negev, CYMOTIVE Technologies, Deutsche Telekom Innovation Laboratories and Jerusalem Venture Partners, according to Globes. The International Cyber Security Smart Mobility Analysis and Research Test (SMART) Range in Israel will test cybersecurity solutions for the automobile industry, autonomous driving and general auto technologies, the report said. The conglomerate already operates a number of centers in Israel, including the Samsung Global Innovation Center (GIC) in Tel Aviv, focused on investing in Israeli startups and entrepreneurs, the Samsung Catalyst Fund, which specializes in seed investments and early-stage startups, and two R&D centers in Tel Aviv and Herzliya. Last month, Samsung was said to be in talks to open an Artificial Intelligence research center in Israel.
November 16, 2017 | Indian multinational conglomerate Larsen & Toubro (L&T) Technology Services announced they will set up a design center in Jerusalem as a global hub to further advance solutions in video, integrated circuits, and security. In a statement, the Mumbai-based hub calls it a “Center of Excellence” to develop and deliver Application Specific Integrated Circuit (ASIC) design, hardware, and software-based security solutions to customers around the world. The center will focus on areas such as automotive, entertainment, Internet of Things (IoT), media, and telecom. L&T has also opened a sales office in Tel Aviv to offer engineering services in areas such as medical devices, plant engineering, semiconductors, and telecom. The company is in talks with Israeli universities for collaboration opportunities and R&D projects. It is developing the “smartest office campus” for an Israeli technology company in partnership with software giant Microsoft. L&T was founded in 1938. It currently has 15 delivery centers and 38 innovation labs.
November 15, 2017 | The Israeli Parliament amended a series of regulations that will “help ease fixed-income debt crowdfunding for startups and small businesses,” a Calcalist report said. Current regulations allow private companies to raise funds from banks or investors, venture funds, angels, or raise capital and debt financing from a group of up to 35 certified investors. In the past five years, 145 tech companies linked to Israel were funded through equity crowdfunding platforms, according to a report from IVC Research, an Israeli tech research company. Startups linked to Israel raised $173 million through equity crowdfunding in the first half of 2017.
November 15, 2017 | Israeli Minister of Economy and Industry Eli Cohen met with entrepreneurs, founders, and CEOs of Israeli companies in New York praising their work in the United States. The Ministry of Economy released a statement Wednesday saying 94 Israeli-founded companies are currently traded on the NASDAQ, for a combined worth of $70 billion. The ministry added that exports to the US have also increased and currently stand at $11.6 billion. Cohen said that the fact that “94 companies are traded on the NASDAQ “indicates that Israel is a key player in the innovation and technology field.” Foreign investors understand that Israel is a country with breakthrough innovation, he said, calling on Israeli entrepreneurs in New York to “return home” and keep intellectual property in Israel, citing the intellectual property tax relief approved last December in Israel.
November 14, 2017 | The Israeli tech company Sesame Enable, the creator of the first hands-free smartphone and a developer of hands-free control technologies for mobile devices, has opened its first US headquarters in Bethesda, Maryland. The Hadera-based company was founded in 2012, developing its Open Sesame technology which enables users to operate smartphones through head movements and voice commands. The touch-free smartphone is primarily aimed at disabled users and those who cannot use their hands. It was developed by tech entrepreneur Oded Ben Dov and former electrical engineer Giora Livne, who became a quadriplegic following a serious accident over a decade ago. The technology is used in the Maryland Accessible Telecommunications (MAT) program which gives communications devices to disabled citizens, according to a report in the Washington Business Journal. Executives from Sesame Enable met Maryland Governor Larry Hogan during a trade mission to Israel in 2016. “Governor Hogan has been an active supporter of Sesame Enable for the past year as we searched for a US headquarters that would align with our vision of supporting people with physical challenges,” said Sesame Enable CEO and co-founder Oded Ben Dov, in a statement released by the governor’s office. “We chose Maryland because of the backing we have received from the state subsidy program, and Bethesda’s proximity to health institutions, including those focusing on veterans. In addition, we are now close to Washington, DC, where we know we’ll have opportunity to influence change needed to make our technology readily available to all Americans who can benefit from it.”
November 14, 2017 | The University of Juba opened the country’s first Science, Technology, Engineering and Mathematics (STEM) Center on Monday, a result of a partnership with the Israeli aid organization IsraAid, STEM Synergy, the Mark Gelfand Family Charitable Fund and UNESCO, IsraAid said in a statement. The center will provide an “educational platform for South Sudanese youth, training them to become engineers, technicians, mechanics and physicians who will contribute to the economic and social development of South Sudan,” IsraAid said. Vice President of the Republic of South Sudan, James Wani Igga attended the event.
November 14, 2017 | Fifteen Israeli ICT and Life Science companies were selected to present their technologies to the Chinese market at the annual Israeli roadshow in China, an event organized by the Israel Innovation Authority in cooperation with the Chinese Ministry of Science and Technology. While more than 160 Israeli companies signed up, only 15 were selected out of 40 by a Chinese investors’ delegation in a preliminary pitching event held in Israel in July 2017 by the Israeli Innovation Authority. During the roadshow, Israeli companies visited Shanghai, Changzhou and Beijing and held more than 100 B2B meetings to promote cooperation. The companies also participated in pitching events in Changzhou and Beijing, presenting their products and technologies to dozens of investors, investment groups and companies like Fuson, PingAn Ventures, Go Capital, and San Power. The pitching events were organized as competitions and three Israeli companies won modest monetary awards in each city. The winning companies in Changzhou were Life Science companies Brainsway, Vectorious Medical Technologies, and OrthoDrill Medical. The winning companies in Beijing were ICT companies Myndlift, CellO-Photonics, and Brainster.
November 13, 2017 | Israeli regenerative medicine company Collplant has raised about $7.4 million in private placement due to a number of filings submitted by the company to the Tel Aviv Stock Exchange over the past three months, according to a report in Calcalist. In November, the Ness Ziona-based company announced a private placement agreement with Ami Sagi, father of Israeli-born businessman Teddy Sagi. The agreement was worth $1.05 million. They also announced an agreement with Israeli investment company Meitav Dash Investments for $1.34 million. In September, the company had a private investment agreement of $5 million signed with Alpha Capital Anstalt of Lichtenstein. In June of this year, Collplant filed a U.S. patent application for a collegen-based bio-ink for “3D printing of tissues and organs.” The company wants to establish its ink in the market and is negotiating with companies in organ printing. Collplant develops medical treatments using plant-based collagen. Human collagen can be harvested from a plant that is created with a combination of human genes and tobacco plant DNA. The company was founded in 2004 by Oded Shosheyov.
November 13, 2017 | Researchers at Haifa’s Rambam Medical Center and the Technion-Israel Institute of Technology have decoded a mechanism that leads to why some patients of thyroid cancer appear to be unaffected by iodine treatment. Iodine is a standard treatment for the disease, but is causing a resistance of thyroid tumors. According to a report in the Jerusalem Post, some patients are developing a distant metastases or local recurrence that is resistant to iodine therapy, causing low survival rates. Iodine treatment is based on partial or full removal of the gland in the front part of the neck, through surgery, with a supplement of radioactive iodine if necessary. Thyroid cells transfer iodine through specific channels that allow the radioactive iodine to enter the cancer cells in the body and destroy them without harming other tissues.The research was published in the Journal of the National Cancer Institute. This research was published in the Journal of the National Cancer Institute (JNCI) and offers hope for more successful treatments in the future.
November 12, 2017 | Israeli pharmaceutical company Nextar Chempharma Solutions will set up an incubator and development center for medical cannabis products, accepting at least six companies per year for the project with initial investment of between $100,000 and $400,000, according to a report in Globes. Nextar will provide a variety of services to the participating companies, “including laboratory and analytic testing, business development, and clinical trial management services.” Nextar will also provide cannabis development services to external companies and will independently develop its own cannabis products, according to the report which added that the company has signed an initial cooperation deal Australia’s Budding Tech, an organization that works in the medical cannabis sector. Nextar is excepted to invest $5 million in the venture.
November 12, 2017 | Israel and India inaugurated a beekeeping development center over the weekend in the city of Ramnagar in the province of Harnaya in northern India. The center is officially called the Center of Excellence for Integrated Beekeeping Development, and is one of 18 centers of excellence set up through the Indo-Israeli Agricultural Project (IIAP), a collaboration project between the Indian Federal Government, Indian State Governments and Israel’s Agency for International Development Cooperation – MASHAV, the Israeli Embassy in Israel said in a statement. The embassy said the Beekeeping center in Ramnagar was the first of its kind between India and Israel, and will address a number of issues like “Queen Rearing, Quality Control Labs, Enhanced Production, Honey Production Value Chain, [and] Pollination.” The IIAP is active in nine states across India, and is set to include seven more states in the next phase. The Israeli ambassador to India, Daniel Carmon, said in a tweet on Friday that a dairy farming center of excellence would soon be inaugurated but did not specify where. “Centers of Excellence are an integral part of India and Israel’s growing partnership. Haryana is one of the first to implement this tool for its farmers, and has more IIAP centers than any other state. I hope to see more states open IIAP centers across India, and that the private sector too joins us in the endeavor to bring advanced agro-technology to Indian farmers,” Carmon said in a statement.What a grand inauguration of the @MASHAVisrael#MIDH#Beekeeping#CenterofExcellence in #Ramnagar, #Haryana with the August presence of CM @mlkhattar@cmohry#agriculture Minister @OPDhankar and many,many farmers and beekeepers. Congratulations! @IsraelinIndiapic.twitter.com/KX80YGPcsx — Daniel Carmon🇮🇱 (@danielocarmon) November 10, 2017
November 9, 2017 | Israeli clinical stage biotech company MitrAssist has raised $30 million, in a funding round led by Fosun Pharma, the pharmaceutical arm of China-based pharmaceutical company Fosun International. China’s Ping Ang Insurance Company also contributed to the round. The heart valve company received $16 million according to its pre-closing valuation of $80 million. The company will also receive an additional $14 million according to a pre-closing valuation of $136 million when it begins clinical trials within a year. The Caesarea-based company developed a heart valve implant that can be installed through a thigh catheterization into an artery, without invasive heart surgery. The company was founded in 2009 by Gil Naor.
November 9, 2017 | The State of Israel and the Commonwealth of Pennsylvania have signed a Memorandum of Understanding (MOU), which hopes to bring with it a new chapter of business development between the two regions. The Consul General of Israel in New York signed the memorandum on November 6 along with Pennsylvania Secretary of Community and Economic Development Dennis Davin and Ambassador Dani Dayan at Thomas Jefferson University. Dayan said that this document will open the gates for many Israeli companies in Philadelphia and Pennsylvania and that both regions have economically reinvented themselves along the same lines of innovation. The signing came after a series of panel discussions and one-on-one meetings at the Greater Philadelphia-Israel Big Data and Digital Health Summit, on November 6, where Israeli startups met with potential investors. Nineteen startups made the trip as part of a delegation. The MOU is the 14th Israel has signed in the United States.
November 9, 2017 | Israeli-founded real estate technology startup Compass raised $100 million in a Series E funding round, the company announced on November 8th. The round was based on a $1.8 billion valuation.Compass has raised a total of $325 million. It raised $75 million in August 2016. Revenues for the company this year except to be $350 million. The round was led by Fidelity Investments with participation from Wellington Management. Through mobile tech, Compass matches buyers and renters to homes of interest. Compass will use the new funds to expand across the U.S., with sights set on cities like Chicago, Philadelphia, Phoenix, and Seattle. It will also enhance its platform, combining client data with transactions and listings to provide recommendations for agents. Compass is based in New York but was founded by Israeli Ori Allon in 2012.
November 8, 2017 | Israel’s reviews and user-generated content marketing platform Yotpo has raised $51 million. The round was led by ClalTech, the Israeli investment arm of American holding company Access Industries. Daniel Shinar, CEO of ClalTech, will join Yotpo’s Board of Directors. The funding included new investors Vertex Fund and the contribution of existing investors like Bessemer, Marker LLC, Vintage, Blumberg Capital, Rhodium, and 2B-Angels . To date, the Tel Aviv-based marketing platform has raised $101 million with the current funding included. The company plans to use the funds to develop the platform and continue their global expansion including the establishment of a second office in the US and recruit 150 additional employees to its current offices in New York, Tel Aviv, and London. They also plan to upgrade the company’s technology and add new features. Yotpo reported that its revenues have quadrupled in the last 20 months. Yotpo uses its marketing platform to help online businesses grow their companies through reviews and other user-generated content that boosts sales and creates “social proof,” so consumers can see that the brand is popular among other consumers. The company was founded by Omri Cohen and Tomer Tagrin in 2011.