Israel Active

There was plenty of space in the Mitzpe Ramon crater in the Negev for 40,000 Israelis to watch this year’s Perseids Meteor Shower. Many lucky Israelis were surprised earlier in July, when comet Neowise appeared, for the first time in around 7,000 years.

Israel’s Innovation Authority (IIA), the government’s tech investment arm, has had its budget increased by NIS 390 million budget. It will now extend its Fast Track Incentive program to help hi-tech startups during the coronavirus crisis. It has also renewed its GovTech Incentive Program.

Israel’s Viridix, a developer of data-driven precision irrigation systems, is partnering Israel’s Talgil, a manufacturer of professional irrigation controllers. They will provide farmers with the ability to automate irrigation cycles by optimizing water needs for each crop.

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Live Cloud for Microsoft Teams developed by Israel’s AudioCodes has been selected by secure communication service provider Enablis for its customers in Australia and New Zealand. AudioCodes’ ‘Mia’ (reported previously) automatically helps enterprises with note-taking.

Israel’s Fintica (reported previously) has successfully completed its Proof of Concept with Japan’s Nikko Global Wrap (part of Sumitomo Mitsui). Nikko will continue to use Fintica’s AI engines to help its financial decision-making. Fintica is part of Israel’s Cortica

Israel’s CropX (reported previously) is partnering US giant irrigation company Reinke Manufacturing. Farmers using Reinke's ReinCloud app will be able to remotely run their irrigation system while simultaneously using CropX’s soil sensors and analytics to maximize crop yields.

Israel’s Tipranks (reported previously) provides analysis and ranking based on text data on news sites, analyst reviews, corporate reports and more. Its services are now used by millions of direct users, plus clients of Santander, TD Ameritrade, Nasdaq Etrade and most of Israel’s banks and investment houses.

Israel’s Investment Authority is encouraging investing in early stage startups. It has reduced the minimum investment eligible for government protection to NIS 100 million (was NIS 150 million). The state will provide up to 40% of the original investment in case of losses incurred.

Karen Vartapetov, the credit analyst at Standard & Poor’s in charge of setting Israel’s sovereign rating, said there is no immediate threat for a downgrade. He said advanced countries including Israel, have relatively effective institutions, relatively high income and credible economic policies.