The Israel Venture Association in conjunction with Red Herring Magazine have selected nine finalists as the most promising Israeli start-ups of the year - as the internationally renowned technology periodical conducts its Israeli Start-up Contest 2007. "Since the bubble exploded at the end of 2000, a company's financial worth is determined by a wider range of factors than just an idea and how it's presented," says Orna Berry, chairman of the IVA and a venture partner at Gemini Venture Capital Fund. "Start-up companies who have created value, have done so with a combination of unique technology, professional people, their operational and managerial capabilities and a formulating market. All the companies in the final had a relative advantage in these areas. The nine finalists in the competition will present their companies at IVA's annual hi-tech conference in Tel Aviv next week, when the best performer from each category will be selected. The start-ups were chosen for their vision, technological achievements and market leadership, and they will earn international exposure through Red Herring and the Israeli media, while also obtaining access to IDC studies. The finalists were selected from three categories: software and Internet; semiconductor and communications; and medical equipment and biotechnology. The top three start-ups in the software and Internet category are Red Bend Software, a provider of mobile software management offering update solutions for mobile phones and wireless modules; Safend, which offers organizations the ability to control and enforce data security policies and prevent the flow of sensitive information from organizations, ensuring compatibility with regulatory standards; and Drive Diagnostics, which develops and markets products encouraging safe driving, while reducing vehicle operational costs. In the communications and semiconductor category, the finalists are semiconductor Altair, which develops state-of-the-art, ultra-low power mobile WiMAX silicon solutions optimized for handsets and handheld devices; Power ID, a pioneer in the field of radio frequency, which developed its technology to track high value assets in radio frequency challenging environments; and Unipier, a provider of software solutions for transmitting advanced cellular services offering a wide spectrum of third generation services. In the medical equipment and biotechnology category are GIView, which develops innovative and user-friendly medical equipment for early diagnosis and treatment of colon diseases; Gamida Cell, a developer of innovative treatment methods in stem cells field, for patients suffering from blood cancer, heart diseases and hematology-related diseases; and MGVS (Multi Gene Vascular Systems), which has developed a new technology for treating blood cell diseases combining cellular and genetic treatment.