Record investment into local incubators

Private investment into old and new incubators reached a record high of $400 million in 2006 more than double the amount of $175m. invested the year before.

By SHARON WROBEL
March 5, 2007 07:03

Private investment into old and new incubators reached a record high of $400 million in 2006 more than double the amount of $175m. invested the year before. "In addition to their achievements, a great number of young and old incubators received approvals by the US Food & Drug Administration and thus many distribution agreements for the worldwide sale of their products were forged," Rina Pridor, director of the Technological Incubators Program at the Office of the Chief Scientist said Sunday. In light of the annual celebration of the Technological Incubators Program this Tuesday, the Office of the Chief Scientist has published the achievements of 11 graduated incubators. Among them are Sightline Technologies Ltd., which last year was acquired for $150m. by US medical technology company Stryker Corporation and specializes in the manufacturing and marketing of advanced endoscopic solutions for gastroenterological applications. Others mentioned were Capital Point Ltd., which went public on the Tel Aviv Stock Exchange and raised NIS 40m. Furthermore, Dentsply, the second largest dental devices company in the world, acquired Israel's Urident for $100m.


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