JTA NEWS
18 November 2017 - 1 Kislev 5778 - א' כסלו ה' אלפים תשע"ח
JTA NEWS :
Business
Trendlines launches technology incubator in Singapore E-mail

One of the first Israeli companies to be listed on the Singapore Stock Exchange, Trendlines, an Israel-based venture capital firm and incubator, has launched its technology incubator in Singapore.

The incubator will deal mainly in medical devices, and will integrate ideas from doctors and research institutes in Singapore with ideas from Israeli concerns and Trendlines’ know-how in development of the ideas for startups. The startup companies will be founded in Singapore, and most of the capital invested in them will come from Singapore.

At the launch ceremony, Trendlines co-chairman and coCEO Steve Rhodes said: “In the past 10 years, in Israel we have built a model for incubators that has proven and is proving itself. Now is the right time to export it.”

Trendlines’s market cap is US$55 million. One of the reasons for launching the incubator is to strengthen the company’s local connection with Singapore and its connections with local investors. The CEO of the incubator will be Eric Loh.

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JFrog expands into China E-mail

Israeli startup JFrog, which has developed a platform for speeding up software update management, storage and distribution processes, has announced that it is extending its business to the Chinese market. The company’s customers in China include Huawei, Tencent and Did Chuxing.

Founded in 2008 by CEO Shlomi Ben Haim, CTO Yoav Landman and chief architect Fred Simon, JFrog has raised US$62 million to date. Its customers worldwide include Google, Amazon.com, Netflix, Cisco Systems, Snap and Microsoft. JFrog has 200 employees in its offices in Israel, US and France.

JFrog’s products provide a solution to the growing need for a free, continuous and rapid flow of software updates, from the development stage to the end customer. It has developed the first, and only, universal Artifact Repository Manager on the market, JFrog Artifactory, which fully supports software packages created by any language or technology.

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South Korean car manufacturers tighten grip on Israeli market E-mail

According to sources in Israel, 20,000 of the record 70,500 new cars sold in Israel in January and February 2017 were Hyundai and Kia models. Deliveries of these two brands have been, to a considerable extent, the result of a massive wave of deliveries of the two new hybrid models, the Hyundai Ioniq and the Kia Niro.

It is obviously impossible to analyze sales trends based on only two months of data, but there is no doubt that this trend is exceptional on an international scale, and is likely to gain momentum. Evidence of this can been seen in the South Korean news agencies, which recently gave headline coverage to the sales figures for the Israeli market in 2016. The Yonhap news agency, for example, stated: “The leading automakers in South Korea, Hyundai Motors and Kia Motors, controlled the Israeli car market in 2016, leaving Toyota and other Japanese manufacturers far behind.”

The citing of a victory over the Japanese manufacturers, rather than the European manufacturers, is no accident. The South Koreans have a major grudge against the Japanese, and beating them in the global auto market is a matter of national pride. “Hyundai conquered 13.6% of the Israel car market last year, and Kia’s market share was 13.3%. Israel has become one of the three largest auto markets in the Middle East, after growing 12.5%,” the report said.

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India and Israel in military deal E-mail

In a deal valued at over US$2.5 billion, India and Israel will co-develop and produce a medium-range surface-to-air missile for use by the Indian Army.

An official from India’s Ministry of Defence (MoD) said the weapon, dubbed MRSAM, will be produced by the state-owned Bharat Dynamics Limited (BDL) in partnership with other stateowned and private defence companies, but refused to say who will own the data package for the technology.

“The formal clearance for the MRSAM project has been given by the Cabinet committee on security headed by the prime minister,” the MoD official said. A formal contract will be awarded soon.

Israel Aerospace Industries (IAI) executives were unavailable for comment. The MRSAM will be developed jointly by India’s state-owned defence research agency, the Defence Research and Development Organization (DRDO), and IAI. The weapon will have the capability to shoot down enemy aircraft and drones at a strike range of between 50 and 70 kilometres.

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SAIC to set up R&D centre in Israel E-mail

Shanghai Automotive Industry Corporation (SAIC) will establish a Research & Development (R&D) centre in Israel for advanced auto technologies, the company announced recently in China.

The company said the centre would focus on development and venture capital investment in “electrical propulsion, data networks, car sharing, and smart automated propulsion”. According to Globes, the centre is part of a global plan in which the company is expanding its R&D worldwide. It recently opened a similar centre in Silicon Valley, US.

The company’s advance team is already in Israel, and its branch there is slated to expand to 50 employees. It is believed that SAIC’s business in Israel will be located in the new management centre of the Lubinski group in Meuyan Sorek. Lubinski has been the official importer for SAIC in recent years, and has sold several thousand units of the brand to date.

SAIC, a Fortune 100 company that is one of the four largest Chinese auto manufacturers, is a Chinese Government company and sells nearly five million vehicles a year.

The auto industry believes that this is just the spearhead of R&D and venture-capital investment by Chinese auto manufacturers in Israeli auto-tech. Early in March, a new auto-tech entrepreneurship and innovation centre owned by Chinese company Geely, with Volvo as a partner, was inaugurated in Israel.

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