22 October 2019 - 23 Tishri 5780 - כ"ג תשרי ה' אלפים תש"פ
Japanese government agency to open Israeli startup accelerator E-mail

The Japanese External Trade Organization (JETRO), a Japanese governmental agency, announced last month that it will open a business centre and accelerator programme for Israeli startups.

The centre will support Israeli startups and mediate business co-operation between Japanese and Israeli companies. It will focus on support for Israeli companies in the founding stages and the expansion of their businesses to Japan.

JETRO promotes bilateral trade and investments between Japan and the rest of the world. As part of its activity, it operates the Invest Japan programme, which is aimed at helping foreign companies wishing to develop their business in Japan.

The programme offers information for foreign investors about all aspects of doing business in Japan, and provides professional consultation and temporary office space for free in large business centres throughout Japan. Under the name Global Acceleration Hub (GAH), similar Japanese centres operate at 12 sites around the world.

The GAH programme will be operated by Jakore, owned by former Rakuten executive Shintaro Hirato and former Samurai Incubate Israel CEO Yony Golan. The company represents Japanese investors and companies, while also supporting Israeli startups in the Japanese market.

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IDE appoints Eran Zini as new Managing Director E-mail

The Israel Diamond Exchange (IDE) appointed Eran Zini as its new Managing Director on 13 September.

Zini has a rich background in management positions in business and government. After serving as senior advisor to Israel’s Minister of Justice, he joined the pioneering Israeli electric car startup Better Place as head of government relations and regulation.

He holds a BA in Political Science and International Relations from the top-ranked Hebrew University of Jerusalem, and an MBA with a specialization in international management from the College of Management Academic Studies in Rishon LeZion. He is a member of the Israel Manufacturers Association and serves on the Advisory Board of the Business School of Bar Ilan University.

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Chinese company in talks to acquire Colorchip E-mail

China’s Sanan Optoelectronics is reportedly in talks to acquire Israeli chip-maker ColorChip for around US$300 million.

The proposed acquisition will be conducted using Sananaffiliated private equity fund An Xin Capital. ColorChip raised US$37 million in 2017 from investors including CIRTech fund.

ColorChip was founded in 2000 by Eli Arad, who serves as VP Research and Development; Shimon Eckhaus and Prof. Shlomo Ruschin. The company’s CEO is Yigal Ezra.

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Israel-based startup GlucoMe to test diabetes-monitoring device in Vietnam E-mail

German pharmaceutical and technology company Merck KGaA signed a pilot collaboration agreement with Israelbased diabetes-monitoring startup GlucoMe Ltd. in August to test GlucoMe’s device in several hospitals in Vietnam, where it is currently being trialled.

GlucoMe develops and markets a wireless glucose and insulin monitor that records blood measurements and insulin intakes automatically and syncs with a mobile app. The patient’s personalised profile connects in real time to a digital service that includes cloud-based diabetes- management software for health professionals.

The company’s products received a CE mark (European approval), and GlucoMe is currently pursuing clearance from the US Food and Drug Administration.

According to Thai Hong Quang, the chairman of the Vietnam Association of Diabetes and Endocrinology (VADE), 5.4% of Vietnamese people – around 5 million people – have diabetes.

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Elbit Systems secures navy contract in Asia Print E-mail

Israeli defence electronics company Elbit Systems Ltd. announced on 20 September that it has been awarded a US$173 million contract to provide Naval Remote Controlled Weapon Stations (RCWS) to the Navy and Coast Guard of an Asia-Pacific country. The contract will be performed over a five-year period.

Under the contract, Elbit Systems will provide lightweight, fully stabilized dual-axis naval RCWS to be installed on a wide range of vessels. The Naval RCWS to be provided feature a 12.7mm machine gun and ammunition, Elbit Systems’ advanced firecontrol system and the company’s modular electro-optic suite.

Elbit Systems Land and C4I general manager Yehuda Vered said: “We are pleased with this contract award that attests to the quality of our systems. I am confident that the demand for the weapon stations we offer will continue to grow, as customers increasingly recognise our unique capacity to draw on an exceptionally broad portfolio to provide comprehensive operational solutions.”

(Issue Oct 2018)

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