China Seeks New Areas of Cooperation With Israeli Startups

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.