Israeli technology incubator inventory: cumulative incubation of more than 1,800 companies, boosting financing over $5 billion
Israel has always been called the “country of innovationâ€. This country with a population of only about 9 million people has produced amazing science and innovations and has become the object of study in many countries around the world. Government-led policies and financial support are crucial to fostering innovation, and the incubator model is an important part of it. Launched in 1991, the Israel Technology Incubator Project has become a major service provider for Israeli start-ups, nurturing 60-70 start-ups each year. The main goal of the project is to transform the innovative technology concepts in the initial stages of R&D into physical start-ups and help them with investment and financing activities. The Arterial Network translated a report from the Israel Innovation Agency and PricewaterhouseCoopers, excerpted the relevant content of the Israeli medical health industry incubator, as follows: One. Israel Technology Incubator Project: Supporting medical start-ups and promoting the transformation of scientific and technological achievements; two. A list of 19 incubators, focusing on life sciences and digital health. Support medical start-ups and promote the transformation of scientific and technological achievements The Israel Technology Incubator Project currently has 18 technology incubators and a designated biotechnology incubator. These incubators are built by experienced institutions or individuals, such as venture capital funds, multinational companies, and private investors. They are all over Israel and are selected through competition. The licenses are valid for 8 years. From 2008 to 2017, about 600 companies participated in various incubator projects, of which medical device companies accounted for 28% and biotechnology/biopharmaceutical companies accounted for 11%. In 2017, most of the companies involved in the incubator project came from the life sciences, which is a relatively high-risk area for entrepreneurs and investors. (Company participating in the incubator project in 2017, data source: Israel Innovation Agency) Because this project belongs to the life sciences and medical fields, the Israel Innovation Agency divides it into two different sources of funding: 1. Technology incubator: For a two-year project, the budget is 3.5 million NIS (Israel legal currency); 2. Specialized biotech incubator: For a three-year project, the budget is 8.1 million NIS. (1 Israeli New Shekel is equal to 1.83 RMB) Of these, 85% of the budget is funded by the government and will only be returned after the project is successful, with the remaining 15% being provided by the incubator. Since the project was launched, the government has funded more than 2,000 startups with a cumulative investment of more than $750 million. More than 1,800 companies have participated in the incubator project, and 60% of them have successfully raised private investments with a cumulative financing of more than $5 billion. As of the end of 2015, 35% of companies are still operating. The incubator has successfully cultivated several life science companies including Re Walk, Compugen, Simbionix, Protalix, Prolor, Mazor Robotics, Enzymotec, Collplant, Valtech, Dune Medical and others. Many of these companies are already listed in Israel or the US, and they have received additional funding from various projects at the Israel Innovation Agency. At the same time, the Israeli authorities also support multinational companies in their research and development. Previously, the Israel Innovation Agency launched a new incentive to encourage multinational companies to establish R&D centers in Israel or to transfer part of their economic activities to Israel in biotechnology, medical devices or digital health to expand their R&D and technological innovation. Or business in the manufacturing field. According to reports from Medison Pharma, the Israel Innovation Agency announced at the end of 2017 that it plans to establish a second biotech incubator in northern Israel. The person in charge of the incubator has communicated with potential industry partners, and the Israel Innovation Agency plans to officially run the incubator in 2018. 19 incubators list: Focus on life sciences and digital health 1. Alon-MedTech Ventures Ltd - Medical Devices and Digital Health Alon-MedTech was founded in 2013 in Yorky Mue, Israel. The main investor of the incubator is the famous Israeli entrepreneur Dr. Shimon Eckhouse, the founder of Lumenis and NASDAQ-listed Syneron. Alon-MedTech has 12 medical device, health and cosmetic technology companies, including: ClipTip medical and Anchora medical (laparoscopic device), EVA Visual (handheld high-resolution 3D scanner), ArchimedUS medical (cosmetic application device) and BrainMARC (wearable EEG device). In March 2016, Alon Medtech signed an agreement with Tsinghua University. Alon Medtech will select several research and development projects of the XIN Research Center (established by Tsinghua University and Tel Aviv University) to further develop in the incubator. 2. BioInc - Therapeutics BioInc was founded in 2012 and currently belongs to M Ventures (Merck's Corporate Ventures division). It is an independent laboratory with an area of ​​500 square meters and equipped with state-of-the-art R&D equipment, located in Israel's leading Merck R&D facility. BioInc is currently investing in companies that are at the seed stage, such as Metabomed, a drug discovery company in the cancer and metabolism field, and ARTSaVIT, a company that studies cancer cell apoptosis, and developed art mimetics. 3. eHealth Ventures - Digital Health eHealth Ventures was founded in 2016 and its investors include Madison Pharmaceuticals (Israel's leading international pharmaceutical company), Maccabi Healthcare Services (Israel's second largest health maintenance organization), Cleveland Clinic Innovations (a branch of the Cleveland Clinic in the US), Amgen (the world's leading biopharmaceutical company) and SCI (Shanghai Chuangrui Investment). eHealth Ventures expects to develop 40 start-ups in eight years and is currently looking for companies in the digital healthcare arena, including: telemedicine /remote diagnostics, hospital or clinic information technology management and decision support systems, big data and forecasts Analysis, IoT devices, behavioral related applications, improved health gaming systems, etc. The incubator is constantly evaluating new projects and currently has six companies in several areas, including AllerGuard (development of food allergens), OsteoSee (bone density measurement as a screening and monitoring tool) and Mind's Eye (hyperactivity disorder) Monitoring and diagnosis). eHealth Ventures also intends to raise more funds for follow-up investments by related companies for two to three years. 4. ExploreBio - Medical and Life Sciences Founded in 2018, ExploreBio is a private company based in Yavne, Israel. ExploreBio was founded by four investment funds – M Ventures, Arkin Bio Holdings, Pontifax and Wuxi AppTec – which are aimed at startups in the field of biotechnology in Israel. ExploreBio will invest $20 million over the next five years for investment and management of proof-of-concept experiments in biotechnology. Explore Bio plans to invest $1 million to $1.5 million a year for four companies over a five-year period to help start-ups get funding quickly and collaborate with M Ventures' bio incubators. In 2018, two companies were founded with the help of ExploreBio - Explore Bio 1 (researching novel T cells) and Pantheon Bioscience (researching bacterial defense mechanisms), all located in the M Ventures bio incubator. 5. FutuRX - Biotechnology FutuRX was founded in 2014 with the support of the Israel Innovation Agency in Ness Ziona. It was formed by JJDC (American Johnson & Johnson), OrbiMed Israel Partners (under the global venture capital firm OrbiMed Healthcare Fund Management), and Takeda Ventures (the corporate venture capital division of Takeda Pharmaceuticals, Japan). FutuRX is involved in 11 biopharmaceutical start-ups, including HepaRx (clinical phase, development of small molecule anticancer drugs), XoNovo (preclinical phase, development of small molecules for the treatment of neurodegenerative diseases) and Mitoconix Bio Ltd. (Development of mitochondrial division inhibitors for the treatment of Huntington's disease and other neurodegenerative diseases). In 2017, two companies fostered by FutureRx raised significant funds: In September 2017, Mitoconix Biowanchen completed a $20 million Series A financing, and in May 2017, BiomX (microbial therapy company) raised $24 million. At the same time, RM Global also invested US$30 million to support the companies that FutureRx fosters. 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