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Israel: Modelo de innovación biomédica
Ariel Roguin MD PhDHead, Interventional CardiologyRambam Medical Center,B. Rappaport - Faculty of MedicineTechnion - Israel Institute of Technology Haifa 31096 ISRAEL [email protected]
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WAZE navigationGoogle 2013: 1,200,000 Million US$
Israel: Modelo de innovación biomédica
El modelo Israelí,
Como se trabaja allí
Como se ha llegado a conseguir ese nivelde superespecialización en innovación,
La relación de los médicos con la gestiónde i+I+D [investigacion, desarrollo e innovacion tecnologica]
5
Israel Facts and Figures
Israel
HAIFA
Established 1948
Area: 22,072 km2
ES:504,645 km2 [X23]
Density: 387/km2
ES: 92/km2 [X4]
Population ~8 millions
ES: ~48 millions [X6]
Unemployment: 6%
ES: ~25% [X4]
GDP per capita 38,000 US$
ES: 33,000 US$
GDP growth 3.3%
ES: 2%
Natural resources. 0
Security challenges ++++
Isolated from its neighbors
Most desert
450KM
60-70KM
90KM
50KM
40KM
45KM
• No. 1 in patent / capital
• 750 life science companies
• 7.1 million people = Silicon Valley
• 20 x less investment money
• Second generation entrepreneurs
• Tenacious spirit, focus, and chaos
Israel and Innovations in Life Science
Major Israeli Medical Innovations
Teva Industry
• Copaxon, Azilect
Stents
• InStent, BeStent, Nir, Express,
InspireMD and more
Biosense
• Revolutionized EP
Given Imaging
• Revolutionized GI diagnosis
Ventor
• Novel Transapical Medtronic Valve
Haifa
Yokneam
Major Israeli Medical Innovations
Multislice CT angiographay [Elscint, Picker, Marconi, Philips]
MRI imaging [GE R&D] [investigacion, desarrollo]
Echocardiography 3D and strain [GE ultasound]
Hybrid CT/SPECT [GE Nuclear]
Israel: Modelo de innovación biomédica
El modelo Israelí,
Como se trabaja allí
Como se ha llegado a conseguir ese nivelde superespecialización en innovación,
La relación de los médicos con la gestiónde i+I+D [investigacion, desarrollo e innovacion tecnologica]
Health System in Israel
• Medical insurance plan is obligatory.
• All entitled to basic health care as a fundamental right.
• In a survey of 48 countries in 2013, Israel's health system was ranked fourth in the world in terms of efficiency.
Health System in Israel
• Medical insurance plan is obligatory.
• All entitled to basic health care as a fundamental right.
• In a survey of 48 countries in 2013, Israel's health system was ranked fourth in the world in terms of efficiency.
• In 2011 there were 3.3 practicing physicians per 1000 population in Israel or 25,300 practicing physicians.
• Almost all employed by the government or HMO – fixed salary!
• Five university medical schools.
• 25 General hospitals with ER [all with CCUs], in 23 cath labs with 24/7 service for Primary PCI.
Health System in Israel
• Medical insurance plan is obligatory.
• All entitled to basic health care as a fundamental right.
• In a survey of 48 countries in 2013, Israel's health system was ranked fourth in the world in terms of efficiency.
• In 2011 there were 3.3 practicing physicians per 1000 population in Israel or 25,300 practicing physicians.
• Almost all employed by the government or HMO – fixed salary!
• Five university medical schools.
• 25 General hospitals with ER [all with CCUs], in 23 cath labs with 24/7 service for Primary PCI.
• Most senior physician are also affiliated with one of the 5 universities:Beer Sheva, Haifa [Technion], Jerusalem, Tel Aviv, Zefat [Bar Ilan].
• No protected time for academy.
Israel: Modelo de innovación biomédica
Ariel Roguin MD PhDHead, Interventional Cardiology
Rambam Medical Center,B. Rappaport - Faculty of Medicine
Technion - Israel Institute of Technology Haifa 31096 ISRAEL
18
Maimonides / the RAMBAM
Nació en Córdoba (España), 1138 –
Médico, rabino, filósofo y teólogo judío
de al-Ándalus de la Edad Media.
Estatua de Maimónides en Córdoba, España.
Innovations in Israel- patents
Source: USPTO
Innovation climate in Israel
Scientists & Technicians per 10,000 Workers
140
83 80
6055 55
45 43
33 33 3225
0
20
40
60
80
100
120
140
Israel US Japan Germany Canada Switzerland Taiwan UK Ireland Italy Singapore Spain
Julio came to the US to pursue academic career.
Initial attempts- Make a stent with Radio Shack copper wire
and soldering materials.
Funds: turned down by a number of companies
Schatz and Palmaz joined entrepreneur Phillip Romano, who
provided seed money to create a company.
Up to 1986, Palmaz, Schatz, and Romano were turned down by
virtually everyone.
Vision and support came eventually through (J&J).
Israel: Modelo de innovación biomédica
El modelo Israelí,
Como se trabaja allí
Como se ha llegado a conseguir ese nivelde superespecialización en innovación,
La relación de los médicos con la gestiónde i+I+D [investigacion, desarrollo e innovacion tecnologica]
DNA for Israel High Tech Success:
Money for start up medical company
University
Institution/hospital
Chief Scientist
Incubator
Venture Capital
Device Company
Private [your own]
Angel – private investor
DNA for Israel High Tech Success:
Fudan 20103030
Haifa
Tel Aviv
Universities in Israel
Beer Sheva
Technion
University of Haifa
Ben Gurion University
Tel Aviv University
Bar Ilan University
Weizmann Institute
Hebrew University
of Jerusalem
JerusalemRehovot
Synergy for SuccessHaifa Bay Area
Rambam Medical Center
Technion, Israel Institute of Technology
University of Haifa
Rappaport Faculty of MedicineRappaport Institute for Medical Research Technion
MATAM High Tech
Synergy for Success
Rambam Medical Center
MATAM High Tech
Technion faculty member
Patent
Company InStent [Private sponsership]
Animal experiments in Technion
Approval for human use
Rambam - Human FIM
Technion faculty member
Patent
Company InStent [Private sponsership]
Animal experiments in Technion
Approval for human use
Rambam - Human FIM
BeStent-InStent-Medtronic
Synergy for SuccessHaifa Bay Area
Rambam Medical Center
Technion, Israel Institute of Technology
Rappaport Faculty of MedicineRappaport Institute for Medical Research Technion
MATAM High Tech
Inspire MD
Patented
Private investors
Venture Capital Investment
NYSE stock
Stages in Development◦ Founded in Haifa(1993)
◦ Idea, technology development, preclinical studies, Initial human studies (1995)
◦ Private investor
◦ Acquired by J&J (1998)500 million US$
◦ Mapping and ablation strategies for complex arrhythmias and AF
Shlomo Ben Haim, Founder
Electro anatomic Mapping
BioSense- CordisIndustry with Strong University Involvement
Trans femoralTrans apical
Transcatheter AVRPVT- Edwards Engineering by Israeli industryClinical studies in France
Sapien AV
Medtronic CoreValve
TAVI image based analysis: Perpendicular Projection Selection
Each point along the curve is perpendicular to the aortic annulus direction
Minimizes errors in positioning
+ =
Coronary Application
CRT-D application
Angio-CT Hybrid Imaging
• Founded by the government – chief scientist
• And PHILLIPS
• CT coronary reconstruction
Governmentfunded
PatentedIP
Angio-CT Hybrid Imaging
prox. LAD
Stenosis due to large plaque with calcified core
Virtual IVUS
feature shows
clearly plaque & lumen
Synergy for Success
Rambam Medical Center
MATAM High Tech
DNA for Israel High Tech Success:
How is it that Israel:
• a country of 7.1 million people,
• only sixty years old,
• surrounded by enemies,
• in a constant state of war since its founding,
• with no natural resources
produces more start-up companies than large, peaceful, and stable nations like Japan, China, India, Korea, Canada, and the United Kingdom?"
DNA for Israel High Tech Success
• Mandatory military service
• Immigration
3 years for Boys2 years for Girls
Israel Defense Forces
• Leadership and management skills at very early age
• More mature persons
• IDF culture “learn and correct”
• IDF service provides potential entrepreneurs with the opportunities to develop a wide array of skills and contacts.
Israel Defense Forces
• Leadership and management skills at very early age• More mature persons• IDF culture “learn and correct”• IDF service provides potential entrepreneurs with the opportunities
to develop a wide array of skills and contacts. • responsibility in a relatively un-hierarchical environment where
creativity and intelligence are highly valued.• IDF soldiers have minimal guidance from the top, and are expected
to improvise, even if this means breaking some rules. • If you're a junior officer, you call your higher-ups by their first
names, and if you see them doing something wrong, you say so.• Neither ranks nor ages matter much "when taxi drivers can
command millionaires and 23-year-olds can train their uncles.
Medicine Studies in Israel
Military Service -> Medicine
Medicine [atuda] -> Doctor in the army for 5
years as officer with multiple responsibilities
Immigration
• 9 out of 10 Jewish Israelis today are immigrants or descendants of immigrants the first or second generation.
• Since 1990, 1 million immigrants mainly from Soviet union.
• Many hard working engineers.
• In 2014: 1 in 4 academic position speaks Russian.
• This specific demographic, causing fragmentation of community that still continues in the country, is nevertheless a great incentive to try their luck, to take risks because immigrants have nothing to lose.
• Israelis think “out of the box”
Out of the Box thinking
Out of the Box thinking
Paravalvular Leak
“Normal” Country
In Israel
How did Israel become a High tech success?
71
Phases in Israel’s economic development1948-1968 Agriculture
• Export mainly agriculture
•Building the science based capabilities:
- Technion 1924
- Hebrew University 1925
- Weitzman Institute 1934
•Innovations and entrepreneurship in Agriculture
(Kibbutz) and the Defense area
72
Phases in Israel’s economic development1969-1992 [Self support market]
• Arms embargo after six day war in 1967
• Army R&D and “atudaim”
• Building defense-industry-university complex
- 65% of R&D defense related
- Defense as % of GDP grew to 25% in 1980
- Indigenous industry for planes, tanks, electronics warfare
• Spin-offs from defense e.g. Elscint, Scitex, Orbitech
• Multinationals entering Israel (e.g. Intel, Motorola)
• Due to historical labor-socialist tradition deep antagonism toward
individual entrepreneurship
• Establishment of Office of Chief Scientist in 1968
73
Phases in Israel’s economic development1992-2010: take-off high-tech sector
• Yozma, a government initiative in 1993 jump-started VC availability by leveraging (foreign) risk capital with government investment fund
• Between 1993-2005 about 80 VC’s raised $ 13,2 bln.
• Numerous government programs to bridge gap between ideas and first VC investment and to compensate for market failures
74
Converging factors acting as tipping point for sustainable hi-tech growth in Israel during the 90’s
VC/PE raised in
Mln dollars
average per year
New High-Tech
Companies
average per year
77From 1969- 1992
1,214307From 1993-2005
Agriculture Nation
Defense and security Nation
High Tech Nation
Tourism Nation
Israel – key phases
?
DNA for Israel High Tech Success:
KEY POINTS• Established R&D Centers (investigacion, desarrollo)
• Venture CapitalInvestments by venture capital funds constitute an added value above financial contributions - in management, world market familiarity, strategic guidance and economic credibility.
• Government Support of R&D ExpensesThe Chief Scientist of the Ministry of Industry, Trade and Labor offers conditional R&D grants of up to 50% of approved R&D programs. If successful the developers are obligated to pay back royalties, up to the amount of the grant.
DNA for Israel High Tech Success
Expenditure on R&D (as % of GDP,2008)
Source: Ministry of Finance
Unemployment Rate (harmonized, 2009)
Source: Ministry of Finance
Government Support
• Competitive government assistance for R&D projects
• Tax holidays for up to 10 years for foreign investors
• The reform law for the Encouragement of Capital Investment will simplify bureaucratic processes related to the approval of investments through the establishment of a "green lane".
• In addition a "Strategic Track" will offer multinational companies significant benefits.
Supportive Business Environment
• Worldwide taxation and customs treaties
• Protection of trademarks, patents and intellectual property of all kinds
• Comprehensive legal protection of foreign companies
Government Reforms
• Liberalization of foreign currency
• Deregulation of foreign trade
• Privatization of government companies
Privatization• The privatization process began in 1986 and was
accelerated in 1997
• During this time 82 companies have ceased to be state owned
• 2003:National airline El-Al begins privatization
• From 1986- 2002 $8.6 billion was raised through privatization
Trade Agreements
• Membership in world organizations: GATT (since 1962), WTO (since 1995) and an active part in OECD
• Israel has free trade agreements with:
EU (25) EFTA (4) Romania
US Mexico Bulgaria
Canada Turkey
Joint R&D Foundations
• BIRDF – with the U.S.
• USISTC – US-Israel Science and Technology Commission
• BRITECH - with Britain
• CIIRDF – with Canada
• KORIL-RDF – with Korea
• SIIRD – with Singapore
• FRANCE
• GERMANY
• ITALY
• SWEDEN
Government Assistance
Israel - Spain R&D Framework
Israel - Spain R&D Framework
Granting Funding
92
Chief Scientist
Activities in Israel International Activities
R&D Fund Bi-National Funds
Magnet Programs U.S-Israel Science & Technology Commission
Tnufa BI-National Agreements
Technological Incubators EUREKA
Seed FundEuropean Union Programs
Office of the Chief Scientist
Generic R&D
Research Institutes Global Enterprise R&D Cooperation
Grants: $ 400 mln; Royalty Income: $ 150 mln.
DNA for Israel High Tech Success:
Technological Incubator Projects
23
200
735
54%
technological incubators operate
projects operate currently
projects have left the incubators in the last decade
have received further private investment
Incentives for R&D Centers
National Priority Zone A
National Priority Zone B
Central Israel
Tax relief program: “Cost +”
Three priority areas: A, B, C
Area CCenter of Israel
Area Bpreferred regions
of Israel
Area Amost preferred
regions of Israel
2 years - tax exemption
6 years - tax exemption
10 years - tax exemption
8 years – only 10% taxes
4 years – only 10% taxes
Grant Program Priority Zone A Priority Zone B Priority Zone C
Tax Exemption 2 Years Not Applicable Not Applicable
Reduced Company Tax
Israeli Investors 5 Years 7 Years Not Applicable
Foreign Inventors 8 Years 10 Years Not Applicable
Grant Benefit Path
Grant Rates
for Fixed AssetPriority Zone A Priority Zone B Central Israel
Industrial Projects
(Up to 140M NIS)24% 10%
Industrial Projects
(Above 140M NIS)20% 10% Not Applicable
Fixed asset benefit level pending zone
Tax Benefit
Tax Exemption Path
Tax Program Priority Zone A Priority Zone B Priority Zone C
Tax Exemption 10 Years 6 Years 2 Years
Reduced Company Tax
Israeli Investors Not Applicable 1 Year 5 Years
Foreign Inventors Not Applicable 4 Years 8 Years
International Centers for R&DAbout 60 foreign R&D centers are located in Israel
AND MORE…
Tax Benefits Table (in %)
Tax Benefit Example
Not an
Approved
Enterprise
Approved Enterprise
Percent of Enterprise owned by Foreign Investors
0-49% 49-74% 74-90% 90-100%
Taxable Income 100 100 100 100 100
Company Tax 34 25 20 15 10%
Balance 66 75 80 85 90
Dividend Tax Percentage 25 25 20 15 10
Dividend Tax 16.5 11.25 12 12.75 13.5
Total Tax on Distributed
income50.5 36.25 32 27.75 23.5
Fudan 2010100100
Haifa
Herzliya
Tel Aviv
Jerusalem
Yakum
Multinationals in Israel
Rehovot
Kiryat Gat
Yokneam
Outside of healthcare, multinationals with significant activity in Israel include:
Over 110 foreign companies have established R&D centers in Israel, collectively employing over 35,000. Source: Invest in Israel
101
Israel as R&D baseEmployment in Foreign R&D Corp.
As a Share of Total Employment in R&D Companies
Source: OECD
4%3%
5%5%5%
9%9%
6%5%
19%
17%15%
20%20%
44%43%
46%45%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
2002 2003 2004 2005 2003 2004 2002 2003 2004 2001 2002 2003 2004 2000 2001 2002 2000 2001
Israel UK Sweden Italy France Finland
102
102
The Israel Casesince the 90’s growth driven by high-tech sector
University of Haifa
Tel-Aviv University
Bar-Ilan University
The Hebrew University of Jerusalem
Ben-Gurion University
Technion
Weizmann Institute of Science
100 km
• 24 incubators• over 3000 start-ups• over 80 VC/PE’s• 63 companies on Nasdaq• leading multinationals• matured Israeli high tech
ECO system
Israel (2009)7.4 Mln inhabitants (in 1948: 0.8 Mln)GDP $ 204 BlnGDP per capita $ 27k
103
The Office of the Chief Scientist Incubator program
• 28 incubators between 1990-1993 (still operating 23)
• Most incubators now privatized
• 1000 companies started in incubator and 45% after a
two years incubator period, attracted follow up financing
• The program has helped to legitimatize tech-
entrepreneurship and lowered entry barriers by
funding and managerial, expert support
Money for start up medical company
University
Institution/hospital
Chief Scientist
Incubator
Venture Capital
Device Company
Private [your own]
Angel – private investor
gMPS System
gMPS Sensor
2-D / 3-D “Map” and sensor
position
Low power
magnetic field
The MediGuide gMPS System
Technion Incubator
300 million US$ in 2008
Excellent Human Resources
• Highly educated workforce
• A multilingual population with cultural, historic and business ties to almost every other nation
• Over 1 million highly educated immigrants from the former Soviet Union since 1989
• 275 engineers per 10,000 employees
DNA for Israel High Tech Success:
Fudan 2010107
Human Capital -Israel’s Biggest Asset
Percent with academic degrees (ages 25-64)
Source: the ministry of finance
0
30
60
90
120
150
0%
5%
10%
15%
20%
25%
26% in Science&Engineering
Excellent Human Resources II• Well established and strong academic infrastructure
• An outstanding entrepreneurial spirit
• Success stories breed success. Everyone wants to be an ICQ, WAZE or Medinol
• Highly trained graduates of the Israel Defense Forces have turned cutting edge defense technology into civilian applications.
Israel leads in encryption software, a by-product
of it’s military industry, as are so many
technologies in which it excels.
“Forbes” June 2002
DNA for Israel High Tech Success:
Modern Infrastructure
• State of the art telecommunications
• World renowned research and educational institutions
• A highly advanced banking and financial sector
• A large volume of high-tech and science based industry
• Early adopters of technology
DNA for Israel High Tech Success:
Fudan 2010110
• Informal, non-hierarchical and collectivism culture conductive to
networking
• Sense of common purpose beyond individual (company) interests
• Network spillovers from army service
• Institutionalized availability of expertise in advisory boards and coaching
• Networked infrastructure of VC,s, Angels, Corp. VC’s, Accountants,
Lawyers, etc.
• Recruitment by referrals and “friend brings friend”
Social Capital
DNA for Israel High Tech Success:
“YES WE CAN”
Israel entrepreneurial culture
“Donttellusitcannotbedone”
DNA for Israel High Tech Success:
112
Entrepreneurship:The Israeli context and culture
• Informality is a way of life• Risk taking is endemic• Three years army service (leadership, teamwork,
technology, risk-taking and improvisation); breeding ground for entrepreneurs
• Pioneering Ethos and a sense of common purpose• Immigrants part of the process• International networks and experience• Non-hierarchical society • A real community (high collectivism) • Building startups has become the national sport;
entrepreneurs-the new cultural heroes (legitimacy)• Everyone questions authority
DNA for Israel High Tech Success:
DNA for Israel High Tech Success:
Israel High Tech Capital Raised
• Foreign investors have considerably increased their investments in Israeli high-tech and account for a vast majority – 76% -- of capital investment in Israeli companies.
• The majority of investments over 2013 – two-thirds – was follow-up investment, with first-time investments constituting only one-third of the total.
• The life-science sector led funding rounds in 2013, attracting 23% of total funds raised, or $522 million. Trailing just behind it was the software sector, which raised 21% of total capital. Both cyber security and data reached peak investment levels, as did cloud infrastructure and big data.
IVC Research Center - the leading source of accurate, comprehensive, and focused information on Israel’s high-tech industry.
Robotic Coronary Cardiac Set-up
Corindus, Previously Navicath
The Concept of Remote Control Coronary Interventions
•.
Bed Side Unit Control unit.
Remote Navigation System for Coronary Catheter based Interventions
Patented 1998
First 10 patients: The Institute Cardiovascular in Fundeni hospital Dr. Dan Delano, Bucharest, Romania
Pilot Clinical Trial
Corindus- CorPath 200
• 1998 First Patent filed (today, 19 granted and 38 pending)• 2002 Company founded (TEIC, Israel)• 2004 FIM in Romania• 2006 Corindus Vascular Robotics founded (VC)• 2010 CorPath 200 FIM results, Corbic Columbia• 2011 PRECISE trial, 9 centers, 164 pts. • 2011 Alliance with Phillips• 2012 July, FDA clearance, Commercial installations
Problems in the High tech Market of Israel
• Looking for “EXITS”.
• Reach a certain level and then sell.
• Good at early stage.
• No large NOKIA etc.
“Rambam Health Care Campus”:
Rambam Medical Center
Rappaport School of Medicine
Rappaport Institute for Research
Technion IIT
University of Haifa
High Tech IndustryEngineers
Physicians
Scientists
Synergy for Success
13
1
Rambam Campus | 2014
Collaboration and Technology Transfer
Engineers
Physicians
Scientists
Funding
Synergy for Success
Rambam Innovation Fund
Engineers
Physicians
ScientistsFunding
• Each year, 5 innovation grants will be provided to physicians/ scientists with novel ideas on a competitive basis
• The grants will fund concept development, prototype building and patent protection
• This will form the basis for the next phase of development
InnovationsEngineeringScienceMedicine
Rambam New Campus - Building the Future
Strategic Plan
Ruth Rappaport Children’s Hospital
Biomedical Discovery Tower
Cardiovascular Hospital
Joseph FishmanOncology
Emergency Department
West Campus
Ruth Rappaport Children Hospital
Biomedical Discovery Tower
Fishman Oncology Center and the CV Hospital
Biomedical Discovery Tower Research and Innovations
Clinical Research Institute at Rambam (CRIR)
DNA for Israel High Tech Success:
The history of the manuscript began in La Coruña (Corunna), north-western Spain, in 1476 when Isaac, son of Don Solomon de Braga commissioned a famous scribe, Moses Ibn Zabara to write the Tenach (Old Testament) together with Rabbi David Kimchi’s (Radak) grammatical treatise Sefer Mikhlol.
La Coruña Bible(24th July 1476)
the most lavishly illuminated Hebrew Bible to survive from medieval Spain and combines Islamic, Christian, and popular motifs
Small country - great spirit!
Israel has an entrepreneurial spirit
Israel has the mentality of early adopters
Israel has a creative fusion between
academy and business
Israel has a defense technology
commercialization
Israel has highly skilled workforce
Israel has a powerful VC community
Israel has investment and R&D incentives
Israel's technology advantages:
Ventri VCTGT
Industry basedClinical Research
Rambam-GE Collaborations in Imaging
NEOVASC (Banai et al):
CT Angiography of Reducer in CS
Stent Induced coronary sinus stenosis to enhance venous perfusion and collateralization
Israel’s Life Science Industry Industry Drivers
Technology Transfer Organizations (TTOs) Commercialized defense technology Healthcare system Strong entrepreneurial spirit Powerful VC community Highly skilled workforce Institutional incentives
• Get the right idea
• Secure protection, Secure initial
financing
• Product development
• Preclinical testing
• Clinical Testing
An enthusiastic and devoted innovator challenged by obstacles (hospital, university. private company, other).
Get the adequate financial resources to move forward.
Can proceed in an institutional or commercial environments.
It almost always comes with the requirement to protect the idea from being copied and duplicated (patents).
Get the right team!
Develop the device towards first-in-man studies
Expect a few modification based on preclinical experience
Validate the technology with appropriate in-vitro and animal models before First In Man.
Proof of the technology in patients for a specific indication.
Phases: ◦ first-in-man
◦ Intermediate size registries
◦ large scale randomized controlled clinical trials, designed to prove safety and efficiency.
This is where ethics and the need to control conflicts of interest has becomes a major consideration.
Compelling clinical need
Safety and efficacy
Physician training
Ease-of-use
Economic factors (reimbursement)
Commercial
Acceptance
Encourage industry- academia collaborations by national programs,
Mechanisms to promote innovations-competitive translational grants
Encourage FIM and innovative clinical studies in Israel ◦ Shorten and simplify IRB application process
◦ Limit the time to approval
154
Israel- The High-Tech Ecosystem
• Technology Hotbed (20% of Nasdaq companies Israel founded)– Recognized as an excellent source of technology innovation
– Largest concentration of high-tech companies outside of the US
– Created category leaders in various industries
– Tremendous concentration of global technology leaders
GlobalHi-tech
Companies
Availability ofTechnical People &
ManagementExpertise
ExistingTechnology
Infrastructure
Experienced
2nd time
entrepreneurs
University
Computer Science
Students
Foreign
Technology
Firms
Incubators
Defense
Corporate
R&D
Leading
Academic
Institutions
& ResearchCorporate
Spin-
Offs
Seasoned VC Community
Government
Support
