MIT opens its first Israeli seed fund with BGU
The Massachusetts Institute of Technology (MIT) launched its first Israeli seed fund in cooperation with Ben-Gurion University of the Negev. The fund will support early-stage collaborations between MIT researchers and their counterparts at BGU.
Intuit buys Check for $360m
(Thanks to Atid-EDI) More than 10 million people use Check’s smartphone app to track and pay their bills. Check’s Israeli development center will join Intuit's Consumer Ecosystem Group.
Israeli web giant ironSource opens Beijing office
IronSource, one of Israel’s most successful web companies, is expanding to China. Over 100 million people a month use ironSource’s tech services, which will expand significantly as ironSource deploys its digital delivery technology in the world’s largest market.
Ben Gurion Airport inaugurates new runway
Israel’s Ben Gurion International Airport has completed a 4-year, $1 billion runway upgrade. The new runway vastly expands airport capacity, allowing simultaneous take-off and landing. It supports the Open Skies program for increased destinations and lower airfares. The news coincided with the news that May’s passenger figures were 1.3 million - 13.8% more than May 2013.
Israeli parking system for Albania city
(Thanks Atid-EDI) Israel’s On Track Innovations’ subsidiary PARX has signed a 20-year contract to help manage the parking operations for Elbasan, a city in central Albania. It will install PARX’s EasyPark system, which already operates in 45 Israeli cities.
Fitch Ratings give Israel another “A” credit rating
Fitch gave as positive, Israel’s fiscal consolidation and narrowing of budget deficits. It also noted, "The start of gas production has caused a structural improvement in the balance of payments that will support continued current account surpluses.”
The mini mobile robot printer reaches its main funding goal
Israel’s ZUtA Labs has raised sufficient funds to complete the development of the tiny printer that you put it in your pocket (or bag, laptop case etc). You can still order one on kickstarter for shipping in January.
Five Israeli companies list on London AIM
Israel’s Marimedia, a provider of solutions for optimizing for the sale of online advertising space, has just listed on London’s Alternative Investment Market (AIM). Other 2014 Israeli (or Israeli subsidiary) AIM listings include SafeCharge, Summit Germany, XLMedia and Bagir.
Hong Kong business heads are impressed with Israel
(Thanks to Herb) Hong Kong’s government recently arranged for 34 Hong Kong businessmen, investors, and entrepreneurs to visit Israel. Israel is Hong Kong’s second largest trading partner in the Middle East, and Hong Kong is Israel’s fifth largest trading partner in Asia.
Teva’s new treatments are worth $1b
In 2014 Israel’s Teva is launching Zecurity (migraine patch), Adasuve (inhalation powder to treat agitation in schizophrenia patients) and DuoResp Spiromax, (an inhaler). The combined peak sales of these products are estimated to be $1 billion. It also has 15 treatments in Phase III trials.