Israel’s emergence as a center for automotive technology got a vote of confidence on Monday when Intel Corp. said it would pay $15 billion for Mobileye NV, a Jerusalem-based maker of chips and software for driverless cars. It will be the largest takeover of an Israeli tech firm and follows a series of deals and partnerships inked in recent years by major tech and auto companies.
“The deal proves in a dramatic manner that our vision is coming true. Israel is becoming a global technology center, not only in cyber, but also in the automotive area,” Prime Minister Benjamin Netanyahu said in a text message. Israel had already singled out the automotive technology sector as a possible economic boon, allotting it 250 million shekels ($68 million) for the next five years.
At least five major car manufacturers have made investments in Israel. Ford Motor Co.bought computer vision and machine learning company SAIPS AC in August and Bayerische Motoren Werke AG invested in transit app Moovit in 2015. Daimler AG and General Motors Co. have also opened research and development centers in the country.
The Mobileye deal went far beyond the $4.7 billion sale of fiber-optic company Chromatis Networks Inc. to Lucent Technologies Inc. in 2000, which was the country’s biggest tech deal before Mobileye. Founders Ziv Aviram, who is also the Chief Executive Officer, and Chairman Amnon Shashua, will share just under $1 billion from the sale, according to data compiled by Bloomberg as of Dec. 31. Shmuel Harlap, the largest shareholder, will make $1 billion, according to Bloomberg data as of April 1, 2016.
Netanyahu’s Director General Eli Groner said the autonomous tech sector could potentially boost economic growth by 50 percent.
Israel is not renowned for its car-making industry, once turning out fiberglass-shelled cars that were briefly popular in Israel in the 1960s and 1970s. However, the country is now benefiting from the automobile industry’s increasing focus on software rather than hardware.
In Israel, the automotive technology sector currently counts about 350 startups, according to industry monitor IVC Research Center, with the potential, according to Gruner, to grow bigger than the cybersecurity industry, which drew 15 percent of global capital raised by the sector in 2016, according to Start-Up Nation Central, a group that promotes Israel startups.
Argus Cyber Security, based in Tel Aviv, in January announced a partnership with Qualcomm Technologies to protect cars from hackers. Otonomo Technologies Inc., a data platform that tells users when to stop driving due to a malfunction and can call emergency services when there is an accident, is working with nine car manufacturers, including Daimler. Aquarius Engines, which has designed and developed an engine to generate electric power, is working with Peugeot SA and three other automobile companies.
Gal Fridman, chairman and chief marketing officer of Aquarius Engines, said the deal “definitely makes our lives easier.”
“It validates Israel’s ability in technology in the automotive industry, traditionally American and German and not at all Israeli,” Fridman said. “Mobileye has dramatically helped us open the door wider into this industry.”
The autonomous sector is expanding even as Israel’s tech sector suffers from growing pains. Although the country’s tech industry grew faster than gross domestic product nearly every year between 1998 to 2009, in the five years following it surpassed national growth only once, in 2012. The Finance Ministry acknowledged in a report last year that the industry that fueled Israel’s economy for the past two decades was stagnating.
Mobileye has also had its issues. Last year, Elon Musk’s electric carmaker Tesla Inc.stopped using Mobileye’s systems and the two companies argued publicly about the breakup.
After the Mobileye acquisition was announced, Netanyahu and Finance Minister Moshe Kahlon, who have been reducing corporate taxes, announced they would consider further cuts.
“We view this deal as an indication that the more attractive Israel is for foreign investors, the more tax revenue we will generate,” Groner said in a phone interview.
Tax breaks are already part of the government’s program to encourage global technology companies to do more research and development in Israel as other countries vie for companies like Intel to put down roots on their soil.
“The deal will increase the attention and funding for the already burgeoning Israeli cohort of next generation autonomous driving technology startups,” said Jon Medved, founder of OurCrowd, an equity crowdfunding platform based in Jerusalem.
The Article was published on Bloomberg.com on the 14th of March 2017.
The European Union has invested €7.7 million in the Israeli-led project NanoPack, a new initiative to develop antimicrobial food packages for perishable foods, based on nanotechnology. These solutions could reduce the staggering 1.3 billion tons of food wasted each year, which cause major economic loss and significant harm to the world’s natural resources.
In order to extend food’s shelf life, the team – led by the Technion-Israel Institute of Technology – is using novel antimicrobial surfaces and natural materials.
“NanoPack will demonstrate a solution for extending food shelf life by using novel smart antimicrobial surfaces, applied in active food packaging products,” Dr. Ester Segal of the Technion said in a statement. “NanoPack will enhance food safety for consumers by significant growth inhibition of food-borne microbes, which in turn will prevent food-borne illness outbreaks and early spoilage.”
Applying the power of nanotechnology, the project will employ polymer composites based on natural Halloysite Nanotubes (HNTs) as reliable and safe carriers, capable of tailored release of bio-active payloads. Thanks to their size, HNTs are unable to migrate from the food packaging into the food.
Worldwide, a trillion plastic bags are used each year, nearly 2 million each minute, according to the Earth Policy Institute. Simon van Dam, Project Manager of NanoPack, tells NoCamels the team will also examine whether these new packages can be recycled.
Natural oils prevent disease
Maximizing safety, HNTs in the NanoPack food packaging slowly release tiny amounts of potent, natural and EU-approved essential oils into the packaging headspace. The oils exhibit both antimicrobial and anti-fungal properties and can be tailored to inhibit growth of most food-borne microbes.
The active polymer films developed by NanoPack exhibit broad-spectrum antimicrobial properties, without the use of nanomaterials such as silver particles, which have raised health concerns of toxicity and microbial resistance.
NanoPack intends to develop, scale up and run pilot lines in operational industrial environments to manufacture and validate antimicrobial polymer films that are commercially feasible and accepted by retailers and consumers alike.
According to Segal, the three-year project, involving 18 research teams from European countries, is excepted to “present better-performing, safer and smarter products that will position Europe as the leader in food nanotechnology and smart antimicrobial packaging while increasing competitiveness and growth.”
the article was published at NoCamels.com
‘The future belongs to those who innovate,’ Netanyahu says at launch event
After decades of dedicating himself to public life in Israel, anyone would think that 92-year-old former President Shimon Peres would want to put his feet up and enjoy his retirement. But he doesn’t seem to know the meaning of slowing down and appears to become more active with age. On Thursday morning he proved this when he was joined by other top officials to launch the Israeli Innovation Center, which will be established at the Peres Center for Peace in Jaffa.
Leading movers and shakers in the world of Israeli start-ups and innovation gathered at the center, a non-profit organization that brings together a diverse and multi-faceted spectrum of participants, to hear all about the new innovation hub that highlights some of Israel’s best technologies.
Israel has been dubbed the “Start-up Nation” due to the high number of innovative technologies and successful start-ups that have been developed in the country.
Peres, who was noticeably emotional about the launch, was greeted with rapturous applause and a standing ovation when he took to the stage at the beginning of the event.
“We were a country with limited resources,” Peres said. “We had a small population, but we believed in our vision that led to our creation. We overcame our desolate land, and we turned it into one of agriculture that for the first time was built on hi-tech.”
Peres told the adoring audience that the new center was a source of pride for the country and that it would help bring peace between nations.
He even went on to say that it’s not only Israel who can benefit from innovation, but the whole region. “l call on our neighbors to establish a startup region.”
The current president, Reuven Rivlin, was next to speak and while the applause for him wasn’t as loud as it was for Peres, he was also welcomed with a standing ovation.
Rivlin said that Peres was the symbol of Israeli innovation and that as he gets older, he becomes more creative.
The president highlighted that while there is a lot to be proud of in Israel in terms of technology, there is still a long way to go. He talked about how people from Arab and ultra-Orthodox communities aren’t always given the same opportunities as others. “We are trying to change this,” he said emphatically.
Prime Minister Benjamin Netanyhau, who gave an address at the end of the event, also spoke about the disparities that exist within the country. He focused more on the geographical inequalities and said that he was working to make sure that every part of the country is able to enjoy the benefits of Israel’s technology and innovation sectors.
He joked with Tel Aviv Mayor Ron Huldai that Tel Aviv wasn’t the only city in the country that can benefit from investments in innovation infrastructure and that he wanted to see towns and cities from the north and the south of the country leading the way.
Netanyhau noted that countries around the world turn to Israel because “they know that our security systems and technologies are the best.” He said that because Israel has years of experience in dealing with terror, it has become a global leader in technology.
In a very impassioned speech, Netanyahu excitedly told the audience that this year alone he had met with some 120 heads of states and foreign ministers, and when talking about the success story of Israeli innovation he told them all: “The future belongs to those who innovate.”’
He also had some criticism and said that while Israel should be lauded for what it has achieved, there are still problems. The prime minister noted that education needed to be improved and also that markets should be freed up so that more people have the opportunity to innovate.
In what was a moment of comic relief at an otherwise formal event, the guests of honor – Rivlin, Peres, Netanyahu and his wife Sara, all tried on Virtual Reality headsets so that they could experience the cutting-edge technology firsthand. To the amusement of many in the audience, Netanyahu removed his headset after a few seconds as it appeared that it wasn’t working. Rivlin, Peres and Sara, on the other hand, seemed to thoroughly enjoy the experience.
Dr Yossi Vardi, one of Israel’s first high-tech entrepreneurs, led a panel titled “Innovation as a Tool for Social Empowerment.” He introduced the participants – Dr. Kira Radinsky, Sari Rott and Liat Segal – as some of the leading figures in the Israeli innovation scene. He said that the fact they were all women was by chance and that they were chosen because they are the best in their field.
In a tribute to what the Peres Center is all about, a group of five children from the northern Arab village of Daburiyya presented a cutting-edge recycling robot that they had created. They each took turns to explain how and why they had invented the robot and received possibly the loudest applause of the day.
The Israeli Innovation Center will open its doors in 2018 to hundreds of thousands of visitors from Israel and around the world, with a focus on students, soldiers, ministers and heads of state, tourists, and business delegations from around the world. It will attempt to tell the story of Israeli technologies that have changed the world.
The article was published on i24news on the 21th of July 2016