Unemployed Israelis volunteer on farms
Thousands of temporarily unemployed Israelis are volunteering on Israeli farms. Farmers have incurred severe labor shortages due to coronavirus restrictions on foreign workers entering Israel. Israelis use an app called SunDo from non-profit HaShomer HaChadash to find work.
Make people better
Israeli innovation hub Welltech1 is calling for Wellness startups that make people happier and heathier to compete for an investment of up to $200,000. Wellness is defined as self-care as opposed to healthcare. The hub partners the Global Wellness Institute that aims to eradicate preventable, chronic diseases.
Latest update on anti-viral masks
Israel’s Sonovia began producing its anti-pathogen fabric face masks in March (reported previously). It has now sold 30,000 of the masks, mainly in the United States. The impregnated zinc and copper oxide fabric, blocks viruses and protects even after high temperature washing.
Group of seven
Israel is in a select club with Australia, Austria, Czech Republic, Denmark, Greece and New Zealand. In all 7 countries the numbers of new coronavirus infections have slowed substantially. Consequently, the Austrian Chancellor suggested establishing trade and tourism links between these nations.
Currency reserves at new record high
Following successful international borrowing, Israel’s reserves of foreign currency increased by nearly $7.6 billion in April to end the month at a new record of $133.5 billion.
Israel raises $5 billion in Asian markets
Israel’s first-ever public issue bond on Asian markets raised $5 billion. The issue saw high demand from some 300 high-quality investors from over 30 countries. Israel’s Accountant General said it testified to the confidence in Israel’s economy and its response to the corona crisis.
EU finance for Israeli coronavirus treatment
The European Fund for Strategic Investments (EFSI) advancing Israel’s Pluristem 50 million Euros to fund 50% of its pioneering regenerative PLX cell therapy platform. Pluristem’s treatment has saved six critically ill Israeli coronavirus patients .
Making face masks fashionable
Savvy Israeli designers have spotted a marketing opportunity – trendy face masks. They have stopped producing expensive wedding dresses that are inappropriate for low-key events. But the elegant masks are very popular with the public who prefer to feel fabric rather than paper against their face.
50 startups thriving despite coronavirus
CTech has produced a list of Israel’s 50 most promising startups that they believe will survive and thrive despite the coronavirus turmoil. They cover Deep tech, Entertainment & media, Unicorns, Logistics & e-Commerce, Cyber & cybersecurity, and Medical technology.
Sale of $8 million inspection systems
Israel’s Camtek, manufacturer of metrology and inspection equipment, has received an $8 million order for multiple EagleT-i systems, its advanced inspection system. The purchaser, a tier-one global CMOS Image Sensor manufacturer, highlights strong market demand for Camtek’s products.