Israel, Fertile Land for Device Company Creation
This article was originally published in Start Up
A surprisingly large number of medical device start-ups emerge from Israel, and at the recent In3 (Investment in Innovation) conference sponsored by the Medtech Insight division of Windhover Information Inc. in Brussels, Belgium in late September, a distinguished panel of venture capitalists made sense of the country's unique climate for device innovation. The speakers also had some lessons to offer to fledgling European device companies as well. Taking part in the panel were Avi Molcho, MD, Managing Director, Life Sciences, for Giza Venture Capital, one of Israel's largest venture firms, Zeev Zehavi, VP of Johnson & Johnson Development Corp., responsible for J&J's corporate investments in Europe and Israel, and Yuval Binur, PhD, Chairman of the board of device company creator Accelerated Technologies.
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Over the last three decades, Ireland has built a robust medical device community serving large multi-national device companies, built on favorable tax policies and a strong manufacturing and engineering base. But now Ireland is trying to incubate a robust start-up community as well, focused on R&D and innovation, hoping to create the next Medtroniic or Covidien rather than simply serving the current ones.
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