20 January 2017 - 22 Tevet 5777 - כ"ב טבת ה' אלפים תשע"ז
Chinese group launches new Israel technology fund E-mail

Israeli gesture-recognition company eyesight Technologies has raised US$20 million from Kuang-Chi, a Shenzhenbased technology group. This is the first Israeli investment by the new $300 million technology investment fund announced by Kuang-Chi. Previous investors in eyeSight include Ceva Inc., MaC Fund Korea-Israel, Mitsui, Intercapital and some angel investors.

The Kuang-Chi GCI Fund & Incubator will be based in Tel Aviv and will invest in earlyto mid-stage Israeli and global companies. The newly established fund has an initial US$50 million and is planned to grow to US$300 million within the next three years.

Founded in 2010 by five distinguished Chinese scientists who returned to China after earning advanced degrees at Duke, Oxford and Cambridge universities, Kuang-Chi is a global innovation group with operations in locations ranging from China to North America, Europe, Africa and Oceania. Kuang-chi has applied for more than 3,000 patents worldwide in the areas of metamaterials, photonics, satellite technology, aviation and robotics in the past five years alone.

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Japanese senior business delegation visits Israel E-mail

In May, Israel’s President Reuven Rivlin met with a visiting delegation from the Keizai Doyukai, the Japan Association of Corporate Executives. Its members are the leading captains of industry from Japan.

The 16-strong delegation of corporate presidents and executives from Japan’s largest businesses was led by Dr. Yoshimitsu Kobayashi, chairman of the Keizai Doyukai and chairman of Mitsubishi Chemical Corporation.

The delegation’s primary goal was to learn how Israeli innovation developed and what has caused its success.

In a significant step, Keizai Doyukai chose Israel as the first destination for a trip by its members outside of Japan. “We are very proud that you have chosen to visit us as a first destination,” Rivlin told the Japanese executives. “Some of you have been here in the past and even studied here. Everyone knows that Israel isn’t rich in natural resources, and despite that, we enjoy our greatest resource, the human mind. Innovation and initiative is the Israeli way to make the impossible possible. For us, Israelis and Japanese, there is a lot in common. It is a great joy to co-operate with you.”

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Israeli mobile app companies to compete for awards in Hong Kong E-mail

Three Israeli mobile app companies will be heading to Hong Kong to take part in the final round of the Asia Smartphone Apps competition, to be held from 14 to 17 June.

The three companies, Tekoia, Castle Builders and E.Soof, will each compete in one of three categories, Advertising and Marketing, Creative Lifestyle, and Games and Edutainment. Each of them faces competition from two other companies.

The winners will all receive a unique opportunity to showcase their technologies, meet investors and potential partners in Asia’s smartphone industry, and attend seminars and workshops. This is the fourth year in a row that the Asia Smartphone competition is taking place, and this year ISRAEL21c will be the Israeli judge at the event.

Tekoia has developed the Sure Universal Remote, an app that allows users to operate infared remote control appliances, such as televisions, cable boxes, air conditioners and wifi smart appliances such as smart TVs, media streamers and security cameras from their phones.

The company launched the product in October 2014, and received more than 5 million downloads in 18 months.

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IZMUS and IIPL sign a Memorandum of Intent (MOI) E-mail

Hot on the heels of the recent visit to Israel by Singapore Prime Minister Lee Hsien Loong in April, IZMUS, an entity created as a bridge to bring promising Israeli startups to Singapore – and then the rest of Asia, has announced the signing of a Memorandum of Intent (MOI) with Infocomm Investments (IIPL), a wholly owned subsidiary of the Infocomm Development Authority (IDA) of Singapore, a government entity.

According to its website for Israeli entrepreneurs, IZMUS is the bridge to getting funding and effectively implementing technology in Singapore. For investors, IZMUS is a one-stop shop to find the best Israeli startups to invest in. For Singaporeans, IZMUS is the funnel that brings the best technology to enable Singapore’s vision of becoming a smart nation.

“We have a long and deep relationship between Singapore and Israel. Our business-tobusiness ties are strong... We admire your technical prowess and ecosystem.”

The MOI was signed at an event where the First Secretary (Economic & Trade) of the Israeli Embassy in Singapore Ms Ron Snir, Head of Infocomm Investments Dr. Alex Lin and IZMUS CEO Rabea Bader came together to discuss opportunities for Israeli start-ups in Singapore and the greater ASEAN market.

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Netafim opens up drip irrigation plant in China E-mail

Drip irrigation and other water-saving technology has received a major boost in China, after Israeli drip irrigation leader Netafim opened its first production plant there on 9 May.

The plant is in Yinchuan, the capital of the north-western Ningxia Hui Autonomous Region. The company described the plant as its “initial base for investments in the region and in northwest China”.

Netafim has invested over NIS20 million in the plant, which has begun producing drip lines of various sizes and types for the Chinese market. In addition, the site includes a training centre.

Netafim CEO Ran Maidan called the plant “a testament to Netafim’s commitment to investing in China”, and said the country has “significant growth potential”.

The company said in a statement that the area was chosen due to its low rainfall levels, which have led to an increasing interest by local farmers to find ways of saving water.

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