Israel Active

Israel Aerospace Industries (IAI) has launched a buying program for cybersecurity companies. It has invested millions of dollars in Holland’s Inpedio BV and Hungary’s Cytrox. Esti Peshin, general manager of IAI’s Cyber Division, said IAI is planning further cybersecurity acquisitions.

Israeli startup Colu’s digital wallet allows customers to pay local businesses instantly in a virtual currency (e.g. Liverpool local pound) from their smartphone. Starting with Tel Aviv, Haifa, London, Liverpool and Barbados, Colu has instigated a true “peer-to-peer” economy.

London’s City AM reports that strong digital growth in Tel Aviv is a benefit to the UK, and praises the UK-Israel Tech Hub created in 2011. The article notes that this model is “more important than ever as we leave the EU”.

Israel’s foreign currency reserves increased by $1.3 billion in June to an all-time-record of $108.706 billion.  The natural gas reserve fund increased to $11.39 billion.

I reported previously about the innovative 3D CT scanners from Israel’s Arineta. GE Healthcare has just given Arineta its first commercial order – for 12 scanners, to be sold to GE customers for $1 million each.

I reported previously about Israeli startup MySize whose SizeUp app measures your body for clothes with the sensors of your smartphone. Now the Israeli Postal Service and Mysize are to trial a pilot solution to measure all types of packages using only a smartphone.

I reported previously about Israel’s jFrog, which develops products for managing and distributing software. jFrog has just acquired CloudMunch in the US. CloudMunch’s Insights software allows developers to see how their DevOps flow is working, make adjustments or adopt new tools.

New immigrants and returning residents may be eligible for grants up to NIS 43,000 and other benefits if they open up a new business in Jerusalem.  The Israeli government aims to encourage new businesses in Jerusalem and reinforce existing enterprises.

French Tech met the Start-up Nation at Innovatech 2017 in Paris. The conference focused on food tech, life sciences, auto tech and cybersecurity. It was attended by 250 leaders from the French hi-tech industry, along with 15 Israeli companies and directors of Israeli venture capital funds.

US Venture Capital fund Finistere Ventures, which specializes in agricultural technology, is expanding its activities in Israel. It “sees Israel as a center of excellence in ag-tech” and has appointed two executives to invest in Israeli innovations for the agricultural and food value market.