JTA NEWS
25 July 2016 - 19 Tammuz 5776 - י"ט תמוז ה' אלפים תשע"ו
JTA NEWS :
Business
New trade mission office in Japan E-mail

In a sign of strengthening economic relations between Israel and Japan, Amit Lang, Director General of the Israeli Ministry of Economy, has inaugurated a new Osaka branch of the ministry’s Japan trade mission.

The office will serve as an executive branch of the Israeli trade mission in Tokyo, and will create opportunities with local companies in the Kansai region and western Japan, including Panasonic, Sharp, Omaron, Murata, Suntory and Kyocera.

“Over the past year, there has been a noted increase in Japanese companies’ interest in Israel in a variety of fields, as evidenced by the arrival of Japanese companies to Israel and their willingness to host Israeli companies in Japan,” said Lang. “Establishing a trade office in Osaka, together with the backing the Israeli Ministry of Economy, gives companies active in Japan the ability to break into the Japanese market and bolsters their chances of success.”

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Pharmaceutical firm Oramed confirms deal with China E-mail

Israeli pharmaceutical firm Oramed, a clinical-stage pharmaceutical company focused on the development of oral drug delivery systems, announced last December that it had signed a licensing and investment deal with China’s Hefei Life Science & Technology Park Investments and Development Co. (HLST), a subsidiary of Chinese pharma giant Sinopharm, for the rights to its orally ingestible insulin capsule, ORMD-0801.

Valued at around US$50 million, it is one of the biggest deals so far between Israel and China, and one of the biggest in the Israeli medical technology industry. It was signed by representatives of Oramed and HLST at the Knesset (Israel’s Parliament).

“China recently became the country with the largest number of diabetics in the world. Having signed these definitive licence and investment agreements, our oral insulin capsule could help serve the growing population of people in China living with diabetes,” stated Oramed’s CEO Nadav Kidron. “In addition to the US$50 million in milestone payments and investments, we believe the royalties on net sales throughout China will have a very significant impact on Oramed’s future revenues and earnings, upon market approval of ORMD-0801 in China.”

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Green China companies visit Israel E-mail

Supported by the Israel Ministry of Economy, the Embassy of Israel in Beijing and Tel Aviv University (TAU), a delegation from the China Green Companies Alliance (CGCA) made a trip to Israel in December, to explore Israel’s innovation and start-up ecosystem.

Headed by Ma Weihua, president of China Entrepreneur Club and former president of China Merchants Bank, the visiting group consisted of 25 entrepreneurs and executives from 23 companies, covering industries such as sustainable construction & design, IT & software, healthcare & medical technology, agribusiness and biotechnology.

A number of high-profile Israeli figures met the delegation, including Shimon Peres, former president of Israel; entrepreneur Stef Wertheimer, Founder and Honorary Chairman of ISCAR Ltd., and Yossi Gross, CoFounder and Director of Rainbow Medical, which owns over 600 patents for medical equipment. The delegation visited multinationals, NGO’s, TAU, six venture capital firms and incubators, and also held meetings with ten start-ups that are innovative in the fields of new energy and health care. Many of CGCA’s member companies have established partnerships with Israeli companies.

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Israel seeking investment opportunities in Goa E-mail

Israel has expressed a keen interest in partnering and investing in Goa, India, especially in the fields of eco-tourism, agriculture, water management and business.

In December, Israel’s Ambassador to India Daniel Carmon and Consul General David Akov met with Chief Minister Laxmikant Parsekar; Deputy Chief Minister Francis D’Souza; Forest, Environment and Panchayats Minister Rajendra Arlekar and other ministers.

“We see it as our mandate, as our job to make things happen. This is the main reason for our visit here. We had very candid, open and friendly conversations on what we could do and in what fields could we do more. This is why we are here,” Carmon said. During the discussion, Carmon proposed the sharing of technology, best practices and government-togovernment tie-ups in the field of eco-tourism. “We identified that the delicate balance between environment and development is a critical issue for both the countries. The minister [Arlekar] was very interested,” Carmon said.

Confirming the developments, Arlekar said that the discussions were still in a nascent stage and that Israel was keen to invest in Goa in the tourism and agriculture sector.

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Tel Aviv and Silicon Valley will become bases for Australian startups E-mail

The Australian government is investing heavily in boosting Australian technology and innovation, and Israel is part of its plans.

In December, Australia’s Prime Minister Malcolm Turnbull announced an innovation programme called Ideas Boom as part of his government’s Global Innovation Strategy. Under the programme, Australian startups will have access to innovation hubs in key international markets, of which Israel is one.

Australian Trade and Investment Minister Andrew Robb said the overseas hubs – to be called Landing Pads – would assist emerging Australian companies with their approach to identifying and engaging with international opportunities in overseas markets. “Landing Pads will be created in key global innovation hotspots including Silicon Valley and Tel Aviv to give Australian entrepreneurs and startups a shortterm operational base,” he said.

“A Landing Pad provides for a collaborative workspace and facilities including office space and meeting rooms for up to two months, as well as accelerated access to international business networks, entrepreneurial talent, business development and investment opportunities,” Robb continued. “Landing Pads will be established by Austrade in the US and Israel, with a further three locations to be identified in the near future. Austrade will also provide access to tailored services including mentoring, business coaching, and identifying investors and potential business partners. This is a valuable new resource for Australian companies and will help foster the innovation and entrepreneurialism we need to create new jobs and build the industries of the future.”

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