If you went on Conexx’s 2016 Business Mission to Israel, you would notice a distinct difference between Israel’s hi-tech ecosystem and America’s. There is good reason Israel is called the “Start Up” nation – it produces nearly 1,000 startups a year and the number of active startups is over 5,000. With a population of 8.5 million, those are impressive numbers.
Much of the technology and ingenuity founded in Israel is due, in large part, to the country’s compulsory service in the Israeli Defense Forces. On-the-job experience in the army often translates to successful businesses later. From cyber security, which seems to be the most perfect example of army-to-private sector industry, to ecommerce, medical, and advances in the agricultural industry, the products, inventions and research that have come from Israel over the last decades have literally changed lives.
While going to Israel with Conexx on our 2017 Business Expedition will certainly give you an in-depth look at the up and coming and hottest tech in Israel, here are just a few industries and companies for you to watch.
Financial Technology (FinTech)
When was the last time you wrote a check or even stepped into your bank? As the use of mobile devices and social media becomes our primary mode of communication, PayKey allows users to safely and securely transfer money using any social platform. Based in Tel Aviv, PayKey was a winner of the Bank Innovation Israel Demo contest. The company raised a $6 million Series A funding round which included Mastercard and Santander InnoVentures.
NextInsurance helps small and independent business owners find customized loans without the hassle of an agent. The entire process is done online and can even be done via a Facebook chatbot. NextInsurance recently raised $29 million in a Series A funding round.
RedHill Biopharma LTD
RedHill is a specialty biopharmaceutical company focused on the creation of medications for the treatment of gastrointestinal and inflammatory diseases, including cancer. Founded by two kibbutz members, the company has been conducting late stage clinical trials for drugs that treat Crohn’s disease as well as other conditions. It is currently setting up its US commercial infrastructure and salesforce and has recently announced its US commercialization agreement for one of its products.
Medasense is currently developing medical devices to assist in pain monitoring. Following extensive multidisciplinary research, Medasense has developed a novel index that quantifies the physiological response to pain. The company’s solution focuses on the body’s physiological “integrated” response to pain and helps to monitor changes in pain level, even when patients cannot describe their pain because they are sedated, demented or too young to talk.
Headquartered in Israel, Innoviz Technologies was founded in 2016 by former members of the elite technological unit of the Israeli Defense Forces. The company develops LiDAR solutions (a remote sensing method used to examine surfaces) to enable the mass commericialization of autonomous vehicles. The company plans to start producing a system in early 2018 that can be used on autonomous driving test vehicles.
Nexar is a free safety dash cam app. Nexar instantly detects dangers on the road and provides life-saving warnings. The app records the road and in the unfortunate case of a collision provides you with the evidence of events as they occurred to help you with your insurance claim. Nexar is a real-time network connecting cars nearby. Using this vehicle-to-vehicle network (V2V network), Nexar can warn its users in real-time of dangerous situations happening beyond each individual driver’s line of sight, such as issuing a forward collision warning, effectively giving drivers more time to react.
Tempdrop is a wearable smart sensor that turns your smartphone into a fertility monitor, making fertility tracking simple and convenient. Users simply wear the device while sleeping and the basal temperature will be automatically synced to your smartphone and app of choice. Tempdrop continuously collects thousands of data points throughout the night, providing a clear picture.
The Datos platform allows doctors, hospitals and other medical professionals to efficiently incorporate data from multiple medical devices to enable better and quality care for patients. Four pilot programs in Israel are using Datos to monitor diabetes, high blood pressure, long-term and post-acute care.
Check out Paulee CleanTec. They have numerous products all designed to help tackle and solve issues dealing with waste from humans, pets, and livestock. They have dozens of products that include a portable toilet that processes waste without the use of water or electricity as well as an in-development product for pet waste called the ashpoopie that converts droppings into pathogen-free, odor-free fertilizer granules in less than a minute.
BrighTap, brought to you by BwareIT, is a water meter sensor and water quality and consumption monitoring system. While the company has not yet gone to market, the sensor attaches directly to faucets, pipes or hoses to give real-time data on water consumption, water quality and other data. The product helps users analyze consumption and to save water and money.