Israel Active

Venture capital firm Jerusalem Venture Partners held its sixth annual “practice session” for Jerusalem kids entering June’s “Young Israeli Entrepreneur” contest. The winner will represent Israel in the Junior Achievement-Young Entrepreneurs Company of the Year Competition next July.

Singapore-based telecommunications group SingTel and Israeli software solutions provider Amdocs are setting up a joint development center in Israel. The center will develop innovative products for customers of the SingTel group in the 26 countries in which it operates.

The value of Israel’s public finances improved by 5.8% (in real terms) during 2012 to NIS 2.7 trillion.

Israel is the only Western country to have reduced its debt as a proportion of GDP in 2012. Israeli government debt was 73.5% of GDP last year, compared to 74.1% of GDP in 2011 and 80% of GDP five years ago.

Here is a fascinating interview describing the history of Israel’s Minicom until it was sold to Tripp Lite in 2012. Eli Sasson came out of the army in 1985 and graduated from Tel Aviv Uni in 1988. He started a business and built his PC control device in his garage. Follow his story.

Israeli publisher of children’s and family apps, TabTable, has bought Israeli smartphone educational games company Kids Games Club. Together they have produced over 200 educational apps, making the combined Israeli company one of the big players in the market.

Philippine Chamber of Commerce and Industry (PCCI) president Miguel Varela said he wants to triple two-way trade with Israel during 2013. He outlined plans during a business matching session and forum in Manila, attended by a 15-member delegation from Israel.

Israel’s Alvarion has deployed wireless broadband to Argentina’s seventh largest city of Mar del Plata - gateway to Patagonia with a population of 600,000. Its ”Smart City” network connects municipal centers, including libraries, community centers, schools, hospitals, clinics, and municipal offices.

Ehud Shabtai, Israeli founder of driving navigation startup, Waze received accolades by the mobile industry: The Israeli innovator was nominated as one of the top ten mobile movers by Venturebeat, a leading technology blog. (Waze won the top award at MWC Barcelona – see above.)

Wix.com Inc., an Israeli provider of online tools that help people build websites, will seek about $75 million in its Initial Public Offering (IPO). JPMorgan Chase will lead the IPO.