May 3, 2018 | As Israel prepares for the 101st Giro d’Italia’s ‘Big Start’ bicycle race kicking off on Friday in Jerusalem, hitting Haifa, Tel Aviv, Beersheba, and Eilat, Start-Up Nation Central, an Israeli tech non-profit organization connecting global corporations, governments, and organizations to Israeli innovation, has released new data about the Israeli sports tech industry to coincide with the big event. According to the Tel Aviv-based non-profit, there has been a significant increase in the number of startups active in the sports tech sector and the early-stage funding that is going into the industry. Israel’s sports tech industry now has over 103 companies, up from 61 active companies in 2013. Start-Up Nation Central reports these companies are in fields like augmented reality, real-time video analysis, hydration management, movement sensors, sports broadcasting and more. Data from Start-Up Nation Finder, the non-profit’s innovation discovery platform, reports that most of Israel’s sports tech startups have been established in the past five years, with 35 percent of the companies in the bootstrap phase while 34 percent have already raised their seed funding. The seed funding size of these companies has increased from $375,000 in 2014 to an average of over $700,00 by end of 2017. The data shows 78 companies out of 103 have between 1 to 10 employees while 20 companies have between 11 to 50 employees. “We’re seeing the birth of a new Israeli technology sector, with mostly very young companies, whose entrepreneurs are taking technologies from places like the military where they worked on augmented reality, or from digital health and food tech where they worked on quantified self and personal nutrition,” said Amir Mizroch, Director of Communications for Start-Up Nation Central. “These technologies are now making their way into sports,” he added in a statement. Start-Up Central is one of the sponsors of the ‘Big Start’ races, and is also hosting a sports tech innovation saloon at the Giro media center in the Waldorf Astoria in Jerusalem. The saloon will feature some of Israel’s most innovative sports tech startups.
News Briefs
Israeli Sports Tech Industry Climbs To New Heights With 103 Startups
Future Meat Technologies Raises $2.2M For Lab-Grown Meat
May 2, 2018 | Israeli biotech company Future Meat Technologies, which develops lab-grown meat, announced it has raised $2.2 million in a seed round led by Tyson Ventures, the venture capital arm of Fortune 100 company Tyson Foods, one of the world’s largest food producers. Other participants in the round included Neto Group, one of the largest food conglomerates in Israel, S2G Ventures, a Chicago-based venture capital fund, BitsXBites, China’s first food technology venture capital fund, and Agrinnovation, an Israeli investment fund founded by Yissum, the Technology Transfer Company of The Hebrew University of Jerusalem, and New York-based HB Ventures. Future Meat will use the funds to establish engineering activities, increase biological research, and recruit engineers, chefs, and scientists, the company said. The technology is based on Professor Yaakov Nahmias’ research at The Hebrew University of Jerusalem and is licensed through Yissum. Nahmias notes that Future Meat is the only company that can produce animal fat without harvesting animals and without genetic modification. Future Meat CEO Rom Kshuk said, “Global demand for protein and meat is growing at a rapid pace, with an estimated worldwide market of more than a trillion dollars, including explosive growth in China. We believe that making a healthy, non-GMO product that can meet this demand is an essential part of our mission.” He added that lab-grown meat production can is eco-friendlier too. “We want to feed the world while protecting the environment.” One of the obstacles is cost. “It is difficult to imagine cultured meat becoming a reality with a current production price of about $10,000 per kilogram,” said Prof. Nahmias. “We redesigned the manufacturing process until we brought it down to $800 per kilogram today, with a clear roadmap to $5-10 per kg by 2020.”
2 Israeli Firms Win Microsoft’s AI Global Startup Competition
May 2, 2018 | Microsoft’s venture arm, M12 (formerly Microsoft Ventures), announced that two Israeli companies were among three winners of the first Innovative.AI competition and an “AI for Good” contest, with other honorees from North America and Europe. The winners got a combined $3.5 million in venture funding from M12, Madrona Venture Group, Notion Capital, and Vertex Ventures Israel, as well as $2 million in Azure credits. The competition invited companies to build and showcase their AI-powered technology. The company that won the Israel region was ZenCity, while Tel Aviv-based company VoiceITT nabbed the top post in the “AI For Good” contest. ZenCity, founded in June 2015 by Eyal Feder-Levy and Ido Ivri, uses artificial intelligence to analyze data conversations on social media, city hotlines, and other channels to search for trends in real time in order to improve the lives of citizens. The “AI For Good” prize, given to a company responsibly harnessing the promise of AI to impact the world, went to VoiceITT, founded in June 2012, which builds speech recognition tech. It can understand non-standard and dysarthric speech and assist people that suffer from cerebral palsy, autism, stroke, ALS, and Parkinson’s disease, according to the company. New York biotech firm Envisagenics won in North America for its integration of AI and RNA therapeutics to find new therapies, and London’s Hazy won in Europe for its use of AI to help businesses share data more securely.
Nobu Hospitality Bringing Hotel, Restaurant Chain Co-Owned By Robert De Niro To Tel Aviv
May 2, 2018 | Nobu Hospitality, the popular global lifestyle brand founded by Japanese celebrity chef and restaurateur Nobu Matsuhisa, actor Robert De Niro and film producer Meir Teper announced it will launch its 17th hotel in Tel Aviv. The hotel is being brought to Tel Aviv with a vision from Canadian husband and wife team Gerry Schwartz, chairman and CEO of Onex Corporation, and Heather Reisman, a businesswoman, and philanthropist. The luxurious boutique hotel will be located at 55 Rothschild Boulevard and 66 Ahad Ha’am Street, one of Tel Aviv’s original neighborhoods. The hotel will have 38 designed rooms, a large garden, fitness center, pool, outdoor spaces, a private rooftop, and a Nobu restaurant. “This is an exciting new-project and coupled with Tel Aviv’s presence as a major high-tech and business center, the strong tourism market in the City, the project fits perfectly with our global clientele,” said Nobu Hospitality Chief Executive Officer Trevor Howell. The first Nobu Hotel opened in 2013 within Caesar’s Palace Las Vegas, followed by a hotel in Manila, Philippines in 2014. There is now Nobu Hotels in the US, UK and throughout Europe. Nobu Hotels in Barcelona, Chicago, and Sao Paolo are in development. The ultra-popular Nobu restaurants established around the world feature Matsuhisa’s fusion cuisine blending traditional Japanese dishes with Peruvian ingredients.
Jerusalem City Officials To Set Up Biotech VC Fund
May 1, 2018 | Jerusalem municipality officials are looking to set up a venture capital fund focused on Israeli life science startups, the business daily CTech by Calcalist reported. Officials hope the fund will raise up to $130 million, and will designate just $5-6 million from the city budget. According to a proposals request published by the Jerusalem Development Authority, the city’s economic development agency, officials hope the rest will come from private investors. The fund is looking to invest in startups that will develop medical devices, pharmaceutical tech, and other products in the life sciences area. The Jerusalem Development Authority will accept proposals until May 15. Market research firm Startup Genome’s annual report on the global trends in tech entrepreneurship published last month says Jerusalem is currently home to 150 biotech startups.
Israel To Host ‘First Of Its Kind’ Science Conference With Delegations From 20 Countries
May 1, 2018 | Israel will hold a science conference at the end of May dealing with innovative ideas in science that have led to groundbreaking success and government science policy, the Science and Technology Ministry announced this week. More than 20 countries around the world are sending delegations headed by ministers and deputy ministers of science to the conference, the Ministry said in a statement. Countries sending delegations include India, Britain, Argentina, Poland, Thailand, Kenya, Uganda, Spain and the Czech Republic. This is said to be the first conference of its kind in the world. “We will mark an unprecedented international event, with more than 20 international delegations – including science ministers from all the world – coming to Jerusalem, the capital of Israel, to salute science, innovation, and Israeli technology, “Science and Technology Minister Ofir Akunis said at a cabinet meeting on Sunday. Leading figures from the international world of science and technology will present their work alongside an exhibition of Israeli science and tech innovations.
Bar Refaeli Is The Face of Giro d’Italia’s ‘Big Start’ In Israel
May 1, 2018 | Giro d’Italia, the multiple-stage bicycle race from Italy in its 101st year and holding its first three races in Israel for the first time in history, has announced that Israeli model Bar Refaeli will be the official presenter of its ‘Big Start.’ The Italian race is traditionally known for choosing a celebrity presenter to be the face of its ‘Big Start’ events. Refaeli, who was chosen unanimously by the ‘Big Start’ committee, will lead all events associated with the ‘Big Start’ including official presentation of teams and riders on May 3, one day before the start of the race (and broadcast live on the Eurosport television sports network), the start of the race, and podium presentations at the end of the racing day. The ‘Big Start’ will begin in Jerusalem on May 4 followed by the second day’s race from Haifa to Tel Aviv on May 5 and the third from Beersheva to Eilat on May 6. This is the first time one of cycling’s three Grand Tour races (Giro d’Italia, Tour de France, Vuelta a Espana) has ever been held outside Europe. The race is not only one of the world’s most significant sporting events, but also said to be the most significant sporting event ever held in Israel, expected to attract around 10,000 tourists along with 22 international cycling teams. The Giro d’Italia race takes place every year over 21 stages during a three week period. The race has begun every other year with a ‘Big Start’ in Europe but outside of Italy since 2006, including in European countries like Holland, Belgium, and Denmark. Israel is the first country to hold races outside of Europe. The event is broadcast on television and watched by viewers in 194 countries.
Israeli Defense Tech Firm IAI Opens Berlin Office To Grow Europe Operations
April 30, 2018 | Israel’s military and commercial aerospace tech company IAI (Israel Aerospace Industries) announced that it opened a new office in Berlin, Germany “to support its growing business in the European market.” In a statement put out by IAI, the company said chose Germany due to its “central role in Europe and its strong alliance with Israel,” as well as its regard for Germany “as a key European market and as a platform for co-development of defense and aeronautics technologies.” The Berlin office will replace IAI’s former location in Paris. “Collaborations with European companies form an important part of IAI’s presence in Europe, seeking to create synergetic solutions for the European and international market,” IAI said in a statement, noting Europe’s struggle with terrorism over the past several years. IAI co-developed Israel’s world-famous Iron Dome anti-missile defense system as well as the Arrow III interceptor system for long-range missiles. IAI also develops drones, satellites, naval systems, and radars for military and civilian use. Late last year, IAI inaugurated an office in Mexico City.
WeWork Creator Awards Honoring Innovators Coming To Jerusalem
April 30, 2018 | Israeli co-founded workspace giant WeWork is bringing its Creator Awards honoring entrepreneurs, freelancers, startups and non-profits to Jerusalem in June. The accolades are awarded in four categories with a chance to win up to $360,000: performing arts, nonprofits, business venture, and community giver. “We provide not just workspace, but also community and services that support forward-thinking companies around the world,” WeWork says on its Creator Awards site. “As the nature of work changes, more and more people are pursuing careers with intention. The Creator Awards is a way for us to support those who are leading the way.” The deadline for submissions for the awards in May 21. Last October, WeWork hosted the Creator Awards in Tel Aviv, with prizes for 20 Israeli startups and organizations, and a special appearance by its Israeli-born co-founder and CEO Adam Neumann, who spoke of Israel as special nation,” filled with “an energy” that has helped it earn the “Startup Nation” title. WeWork is holding a number of Creator Awards in cities across the world this year including San Francisco, Seoul, Sao Paolo, London, and Berlin.
Alibaba Founder Jack Ma Due In Israel To Meet With PM, Visit R&D Center
April 30, 2018 | The founder and chairman of Chinese tech giant Alibaba is set to arrive in Israel this week. The itinerary for the trip is being kept under wraps but Globes reported that Ma and members of his entourage will meet with Prime Minister Benjamin Netanyahu and Minister of Economy and Industry Eli Cohen. Ma is also expected to visit Alibaba’s new R&D center in Tel Aviv, following the acquisition late last year of Israel-based QR code startup Visualead LTD for an undisclosed amount, said to be in the tens of millions of dollars. Alibaba has previously invested in Visualead and a number of other Israeli startups. The Chinese entrepreneur will also be awarded an honorary doctorate from Tel Aviv University and will give a talk to students there on Thursday. This will be Ma’s first visit to Israel.
Israeli Property Management Platform Guesty Raises $19.75M
April 29, 2018 | Guesty, an Israeli cloud-based startup providing software for property managers to run their rental listings on a variety of booking channels like Airbnb, Booking.com, and others, has raised $19.75 million in Series B funding, Tech Crunch reports. Calling it a “kind of a CRM tool for property management,” Tech Crunch says the Tel Aviv-based company tracks guest check-ins and “helps property owners by providing tools to manage operations behind the tracking.” The round was led by TLV Partners. The travel tech startup has raised $23 million to date.Travel industry intelligence platform Skift said the premise of the funding is to “replicate the company’s success in urban short-term rental units within the segment of whole-home vacation rentals in resort destinations.” Guesty was co-founded by Koby and Amiad Soto in 2013.
Kanabo Research Partners With US Firm To Set Up Medical Cannabis Farm In Europe
April 29, 2018 | Israel’s Kanabo Research, a R&D company that develops clinical solutions for the extraction and vaporization of medical cannabis, announced that it was partnering with Constance Therapeutics, a US-based medical cannabis extraction company, to set up a cannabis cultivation farm in Europe. According to the deal, Kanabo Research and Constance Therapeutics will operate the farm “as well as manufacturing capabilities of cannabis active compounds – THC and CBD – to be used in an array of medical treatments and chronic ailments such as insomnia, PTSD and chronic pain.” Constance Therapeutics will also market Kanabo Research’s solutions in the US. Kanabo Research co-founder and CEO Avihu Tamir said the company was happy to partner with Constance Therapeutics, while “operating to locate global opportunities in light of the fact that many countries are asking to join the medical cannabis revolution.” Tamir said the partnership “will allow us to accelerate our manufacturing pace – especially important now because of the delays in medical cannabis export approvals in Israel – and will provide us with an excellent base for additional operations in other markets, primarily European markets.” Constance Finley, founder and CEO of Constance Therapeutics said, “This is a natural fit and extends each company’s expertise into new territories and most importantly, offers emerging cannabis customers the most innovative and enjoyable option.” Kanabo Research developed the VapePod vaporizer, receiving initial approvals from Israel’s Ministry of Health to use cannabis with the proprietary vaporizer, and making Israel the first country in the world to approve the use of a medical cannabis vaporizer. Kanabo said it has also started pre-clinical trials of Kanabo’s proprietary formulations that focus on sleep disorders and in the future for patients suffering from PTSD.
MedTech Firm V-Wave Raises $70M For Heart Failure Device Study
April 29, 2018 | Israeli medical technology startup V-Wave announced that it raised $70 million in a Series C funding round led by Deerfield Management along with participation from new investors including healthcare funds Endeavour Vision, Quark Venture. and Aperture Venture Partners. Existing investors also participated in the round, namely Johnson & Johnson Innovation (JJDC Inc.) and Edwards Lifesciences, BRM Group, Pontifax, Pura Vida Investments, TriVentures, BioStar Ventures, and Israel Secondary Fund. V-Wave, founded in 2010, has developed a proprietary, minimally invasive implanted interatrial shunt device for treating patients with severe symptomatic heart failure (HF). With approval from the FDA to initiate a pivotal study, V-Wave announced “the upcoming launch of its global, randomized, controlled, double-blinded multicenter clinical trial – the RELIEVE-HF study – evaluating the safety and effectiveness of its novel device therapy in HF patients with Class III or ambulatory Class IV symptoms with preserved or reduced ejection fraction already receiving optimal therapies.” Dr. Andrew ElBardissi, Principal at Deerfield Management, said in a statement, “V-Wave has developed a novel technology that addresses the underlying cause of heart failure decompensations. This technology has the potential to be the standard of care for a large segment of HF patients that continue to worsen despite the use of approved drugs and devices. In addition to improving outcomes for patients, this has the potential to significantly reduce the cost burden of heart failure.” Dr. Neal Eigler, Chief Executive Officer at V-Wave, said: “As an interventional cardiologist focused on HF for the past two decades, I am excited that with this funding, we can pursue the science that will bring us a giant step closer to commercial release of an easy to implant device that can provide the hope for immediate and longer-term symptom relief, increased exercise capacity, decreased need for acute hospital admission, and reduced mortality with an improved quality of life for hundreds of thousands of suffering patients.”
Israeli Flavoring Giant Frutarom Launches Food Tech Innovation Lab
April 26, 2018 | Israeli flavor and fragrance company Frutarom has announced that it will launch FoodNxt, an innovation lab for food tech startups in northern Israel. The lab will focus on the development of all-natural ingredients for the food and beverage industry worldwide. Frutarom was selected by the Israel Innovation Authority to operate the innovation lab for three years. The company invited Israeli food tech, nutracentral, and ingredient companies to collaborate with them in this new venture. The startups chosen to join the FoodNxt lab will be granted up to 85 percent of their approved R&D expenses (up to $300,0000) to reach proof of concept. The FoodNxt team will help chosen startups formulate products to meet international regulations, develop patent strategy, build business plans, and test the market, the statement said. The lab also offers access to Frutarom’s portfolio. Frutarom will meet with food tech startups at the FoodTech IL 2018 conference in Tel Aviv on May 7.
Bar Refaeli, Dr. Ruth, Amar’e Stoudemire Among Speakers At Forbes Under 30 Summit Global In Israel
April 26, 2018 | US business magazine Forbes is hosting its first Under 30 Summit Global in Israel next month, bringing in speakers such as professional basketball player Amar’e Stoudemire, Israeli model and businesswoman Bar Refaeli, and media personality and sex therapist Dr. Ruth Westheimer, better known as Dr. Ruth. The four-day summit, May 6-10, will host entrepreneurs from across the world, bringing together approximately 800 people from previous Under 30 Summit in the US and regional summits based in Asia, Europe and the Mideast and Africa. The participants will hear from other speakers such as Waze founder Uri Levine, esteemed Israeli entrepreneur Yossi Vardi, and a number of startups founders, CEOs ad well as venture capitalists. The summit will also feature panels, interviews, performances, and pitch competitions. Guests will take part in events at the ringing of the bell at the Tel Aviv Stock Exchange, a day of “Innovation” in Tel Aviv with access to an entire Forbes Under 30 Village featuring workshops, presentations, and exhibits of startups, a day to meet with Israel’s top venture capitalists, a guided tour of the Old City in Jerusalem, a food and bar crawl of the Machane Yehuda shuk in Jerusalem, tours to various cities across the country, an all-night desert music festival, and a sunrise at the Masada fortress.
The top image is a collage of photos of Bar Refaeli (Nadja Amire, CC BY-SA 2.0), Dr. Ruth Westheimer ( Cliff from Arlington, Virginia, USA derivative work, CC BY 2.0), and Amar’e Stoudemire (Michael Wa via Flickr, CC BY-NC-SA 2.0)
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