China Israel Business 311.
(photo credit: Morag Bitan)
Ten Israeli technology startups will receive a financial boost to assist them in
their China expansion plans, under a program unveiled Monday by Israeli-Chinese
investment fund Infinity Group and the City of Harbin.
agreements were signed at a ceremony in Tel Aviv with the first four companies
selected: ROTEC, Sonarium Medical, Innovative Implant Solutions and BotanoCap. A
total of $10 million will be invested in 10 technology companies with plans to
expand to China, with most companies receiving $1m.
The ceremony was
attended by a high-level delegation from Harbin, led by Mayor Lin Duo. Nochi
Dankner, whose IDB Group cofounded Infinity, also dropped by for a brief,
informal chat with members of the delegation.
Speakers at the ceremony,
including Lin and Infinity managing partner Avishai Silvershatz, noted that Harbin, a city of about 10 million people in
northeastern China, has a rich Jewish history. The local Jewish population
peaked at 20,000 before the outbreak of World War II and included the parents of
former prime minister Ehud Olmert.
Harbin was particularly interested in
bringing in Israeli hi-tech businesses that specialize in environmental
protection, Lin told The Jerusalem Post and Globes through a translator after
“Harbin has many universities and colleges that are strong
in research and development, and we are currently in negotiations with Israeli
businesses in the field of water treatment,” he said.
pharmaceuticals and civil aviation were other areas in which Harbin would
benefit from cooperation, Lin said. For example, he said, the city excels at
agricultural development but lacks the experience of translating R&D results
into actual industrial change, an area in which Israeli businesses can
Lin said Harbin has economic, trade and technology agreements with
180 countries, but he stressed that “cooperation with Israel, in particular the
cooperation with IDB and Infinity, is a very important component of our
“The Harbin-Israel capital-management
incubator will help local companies, particularly the start-ups, to grow
stronger, and it will also help the Israeli businesses to find the tremendous
opportunities on offer in the local business community,” he
Infinity’s Silvershatz, who sat alongside Lin during the interview,
said: “The incubator specifically is a vehicle for young Israeli technology
companies to go to China, do some development work there and adapt their product
and technology to the needs of the Chinese markets, with the framework of this
A separate framework agreement was also signed at the
ceremony among Infinity Group, Harbin and Yissum, the Hebrew University of
Jerusalem’s technology-transfer company. Yissum has granted more than 530
technology licenses in 47 years, including the Exelon treatment patch for
Alzheimer’s disease and the cancer drug Doxil.