Tech Talk: We are family

The new fund will be managed by Noga Kap and Eran Wagner, two ultra-successful Israeli entrepreneurs who have extensive experience in nurturing young hi-tech startup owners.

November 21, 2016 13:53
3 minute read.
ATTENDEES OF THE IoT National Conference at Tel Aviv University.

ATTENDEES OF THE IoT National Conference at Tel Aviv University.. (photo credit: Courtesy)

General Electric, HNA Group, Microsoft, Qualcomm, and Tata are collaborating with Tel Aviv University and Pitango Venture Capital in an effort to stimulate growth among Israeli companies with a new fund.

The fund, which was initiated by Ramot, Tel Aviv University’s business arm, was launched on Monday at the IoT (Internet of Things) National Conference, which took place on the Tel Aviv University campus. i3 Equity Partners, a new international equity fund, announced the establishment of an innovative center for leading entrepreneurs in the field of IoT and IIoT (Industrial Internet of Things) in which it has made an initial investment of $20 million.

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The fund will select a number of outstanding, early stage Israeli startups and offer them use of upscale offices at Tel Aviv University where they will work in optimal conditions to help them build their companies and integrate them into the international market.

My Heritage Founder and CEO Gilad Japhet

The new fund will be managed by Noga Kap and Eran Wagner, two ultra-successful Israeli entrepreneurs who have extensive experience in nurturing young hi-tech startup owners.

In addition, a long list of experienced investors with an impressive track record will be involved in the process. The chairman of the Ramot fund is veteran Israeli industrialist Shlomo Nimrodi.

The IoT sits at the heart of the interconnected world we live in, and we should expect to see many more changes in just about every aspect of our lives, including aerospace, medical, transport, agriculture, and industrial production. Already we can see the budding revolution with automatic cars, smart homes and smart cities.

In essence, the IoT is based on a combination of technological advances that have been developed over the past decades: Big Data, data analysis, machine learning, cyber security, sensors and telecommunication networks. Israeli technologies have been shown to be among the best sources for these innovative ideas.

MyHeritage Israeli startup MyHeritage is launching a global DNA testing service for uncovering ethnic origins and making new family connections. This program is considered cutting-edge in the growing global field of online genealogy platforms.

MyHeritage’s new mass-market home-testing DNA kit is simple and takes only two minutes to use. All you have to do is swipe the inside of your cheek with a small brush.

Next, place the brush in the tube that comes with the kit and mail the sample to MyHeritage DNA’s lab for analysis.

Users are invited to view the results on the MyHeritage website. The kit takes the data it extracts from your test and cross checks it with other DNA information that’s already uploaded into their system to find relatives. In addition, the site is also capable of providing incredibly accurate information about users’ ethnic and geographic origins.

MyHeritage carried out a unique months-long study called Founder Population project in which they handpicked more than 5,000 participants from every corner of the globe – from Uzbekistan to Fiji and from Greenland to South Africa. Their family trees were used to prove that they had consistent ancestry – from the same region, or ethnicity for many generations.

Once this project is completed, MyHeritage will have a rich DNA data set of more than 100 ethnicities. It will be able to show users their ancestral roots with far greater resolution than any other platform.

In particular, MyHeritage has studied a variety of Jewish communities around the world and found unique genetic characteristics, especially among Jews with Spanish or Ashkenazi ancestry. In addition, MyHeritage found a basis for communities that so far had not received widespread attention from scientific authorities.

DNA tests are a great complementary product for the traditional tools offered by MyHeritage.

DNA can prove or disprove the existence of a family relationship and let two people who have the same rare family name know if they are related.

In addition, people who were adopted can use DNA testing to help them locate their biological parents.

“DNA tests are the future of genealogy and family history research as the bond that connects all people worldwide,” says MyHeritage’s founder and CEO Gilad Japhet. “This is a natural development for us and we plan to use this technology to bring family members together, and to integrate volunteers into our community projects, which we hope will enrich the lives of millions of users. Family is the most natural social unit, but people did not realize yet how the Internet will transform the social world and the importance that families play in it,” Japhet concluded.

If you run a young startup, have developed an interesting app or have a question, please feel free to contact [email protected]

Translated by Hannah Hochner.

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