Intel backs OrCam’s glasses for the blind
Intel Capital is investing $15-20 million in Israeli artificial vision company OrCam Technologies. OrCam develops a range of visual improvement products for the visually impaired including a system enabling them to read content and interpret the world around them.
Israeli lottery raised NIS 5
billion. Israel’s National lottery raised more than $1.5 billion in 2013 – a 14% increase on 2012. Grants were given to build kindergartens, classrooms and municipal buildings. Scholarship funds, the arts and the sciences also benefited.
Israel’s currency reserves increase again
Israel’s deposits of foreign currency rose for the sixth consecutive month to yet another all-time record of $83.976 billion at the end of Feb 2014.
Budget deficit lowest in 2
years. Israel’s accumulated budget deficit fell to NIS 28.6 billion or 2.7% of GDP. It is the lowest since Aug 2011 and below the government's target of 3% of GDP.
Where dealmakers and innovators meet
Over 1,000 senior executives from around the world came to Israel Dealmakers Summit 2014 in New York to discuss innovation across key growth sectors including Digital Media, Cleantech, Mobile, Internet, Big Data, Semiconductors, Software, Healthcare and Telecom.
Nurturing female Israeli entrepreneurs
The UpWest Labs Female Entrepreneurship Program, funded by Google, is establishing a network of mentors in Silicon Valley and Israel. Its co-founder Shuly Galili said, “Israel leads the world in empowering women to take command.”
Send us a minibus
Israel’s Ototo ("just a second" in Hebrew) is attempting to change the concept of public transport with “travel-on-demand”. Ototo will use crowdsourcing to identify demand for passengers from a particular destination to another, and will send a bus or minibus.
Insulin products for Europe
Israeli biotech Insuline has announced a new European distribution agreement with 24Care, which will distribute InsuPad in the Netherlands and Belgium. InsuPad increases the effectiveness of Insulin injections, lowering the required dose and allowing flexibility on timing the injections.
Who’s using your website?
Israeli start-up SimilarWeb performs in-depth analyses of website traffic. It has thousands of customers, including Adidas, eBay and Hewlett Packard. It has just raised finance to expand into Germany and the US.
Israel’s cyber industry
Israel National Cyber Bureau (INCB) has estimated exports by Israeli companies in the cyber field at $3 billion in 2013 - three times greater than those of the United Kingdom. Also, Israeli cyber companies raised $165 million last year - approximately 11 percent of total funds raised worldwide.