JTA NEWS
22 September 2019 - 22 Elul 5779 - כ"ב אלול ה' אלפים תשע"ט
JTA NEWS :
Business
IsCham opens a Tel-Aviv Office E-mail

Israel Chamber of Commerce in China (IsCham), a nonprofit organisation launched in 2008 in Beijing to promote trade relations between China and Israel, has established an office in Israel.

Ariel Briskin, the General Manager of IsCham, spoke at the inauguration ceremony in Tel-Aviv in April. The two countries had established diplomatic and trade relations 25 years ago, including mutual investments, infrastructure projects, and export and import agreements.

However, the relationship holds greater potential, he said.

“The opening of the TelAviv office represents a new dawn for the relationship between China and Israel,” Nechemia Peres claimed at the event, a co-founding partner at Israel-based venture capital firm Pitango Venture Capital.

His father, the late Israeli President Shimon Peres, launched IsCham over a decade ago in an effort to nurture the academic and commercial collaborations between the countries, Peres said.

“Israelis tend to think of the US as the main market for growth,” said Tal Badt, former director of business development for startup incubator X-Lab, operated by Tsinghua University in Beijing.

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Airline traffic surge on ChinaIsrael flights E-mail

The number of passengers passing through Israel’s BenGurion International Airport on flights from China to Israel and vice versa rose in the first quarter of 2019 by 30.3% compared to the first quarter of 2018, the Israel Airports Authority (IAA) reported.

According to the IAA report, 122,162 passengers flew between the two nations in the first quarter of 2019, compared with 93,772 in the same period last year. Last March, there were 47,519 passengers on flights between Israel and China, an increase of 25.6% compared with 37,842 in March 2018.

Of the passengers flying between Israel and China in both directions, 39,191 flew with China’s Hainan Airlines in the first quarter, up 36.3% from the same period last year (28,747 passengers). In March, 14,695 passengers travelled in the route with Hainan Airlines, up 25.9% from March 2018 (11,676 passengers). A total of 4.49 million international flight passengers travelled through Ben Gurion Airport in the first quarter of 2019, an increase of 5.58% compared to the same period last year.

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Aleph Farms secures funding led by Singapore’s VVNP E-mail

Israeli slaughter-free meat start-up Aleph Farms Ltd announced on 14 May that it has raised US$12 million in Series A investments.

These are led by Singapore’s VisVires New Protein (VVNP), Cargill Protein, and M-Industry – the industrial group of Migros. Existing investors included the Strauss Group, Peregrine Ventures, CPT Capital, Jesselson investments, New Crop Capital, and Technion Investment Opportunity Fund.

Aleph Farms, previously Meat-the-Future, was co-founded in 2017 by Israeli food-tech incubator The Kitchen, a part of the Strauss Group, and the Technion-Israel Institute of Technology.

The start-up produces real meat from cow cells, “providing the same meat – same experience, same taste – but without killing animals, without using antibiotics, and potentially causing less foodborne illness risk.”

In December, the company unveiled the first prototype of lab-grown steak in the world. The company said it will use the new funds to “accelerate product development of its slaughter-free meat” and to transform its prototype into a commercial product. Its cultured meat will grow in large, bio-farm facilities.

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Indian navy successfully tests live fire missile developed by IAI E-mail

The Indian Navy has conducted for the first time a successful live firing test of a medium-range Surface to Air Missile (SAM), which has been developed with Israel Aerospace Industries Ltd. (IAI).

The Indian Navy said that it had “achieved a significant milestone in enhancing its anti-air warfare capability with the maiden cooperative engagement firing of the SAM. The firing was undertaken last month on the Western Seaboard by Indian Naval ships Kochi and Chennai, wherein the missiles of both ships were controlled by one ship to intercept different aerial targets at extended ranges.”

The SAM system is based on IAI’s Barak 8, an operational advanced missile defense system used by Israel’s navy as well as by India’s navy, air, and land forces. It provides broad aerial and point-defense against a wide range of threats to the marine arena from the air, sea, or land. The system integrates several advanced state-of-the-art systems, such as digital radar, command and control, launchers, and system-wide connectivity.

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AIMA delegation to visit Israel E-mail

A delegation of CEOs from the All India Management Association (AIMA) will visit Israel from 14-18 July to experience first-hand the country’s high-technology innovation ecosystem, and to understand the factors that earned it the ‘Start-up Nation’ tag.

The delegation, the first of its kind visiting Israel, would comprise about 20 members. Amongst the prospective attendees are Sunil Kant Munjal (The Hero Enterprise), TV Mohandas Pai (Manipal Global Education Services) and Preetha Reddy (Apollo Hospitals Enterprise).

“In recent years, the AIMA has been taking CEO delegations to the hotbeds of technological innovation in the US (Silicon Valley) and China. This year, plans are afoot to organise the fourth edition of the delegation to Silicon Valley from 30 September to 3 October,” said AIMA president Hahsharvardhan Neotia.

Regarding policy changes needed to develop similar tech hubs in India, Neotia said the country already has a large tech foothold in Bengaluru and other smaller ones in Delhi NCR, Chennai, and Pune.

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