israel innovation authority creating an innovation ... · new mnc r&d center. 25,000 increased...
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innovationisrael.org.il
Israel Innovation Authority
Creating an innovation friendly
legislative environment
Shomrat Shurtz,
Sr. Director, Business Development,
Israel Innovation Authority
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25,000
Global Leadership in R&D
National expenditure on civilian R&D as % of GDP
Source: OECD, 2018
2.4
OECD
4.3
2018
$6.5BCapital raising
A record year
$12.6BTotal exits
12New MNC
R&D center
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25,000
Increased Involvement of Multinational Corporations
0
50
100
150
200
250
300
50%of High-tech
product
380
R&D centers
20182014201020062002199819941990198619821978197419701966
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What Makes Israel Successful?
Government
Multi-nationalcorporations
PrivateFunding
Army
Startups
Academia
Growth Companies
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$ 500 millionTotal Funding Budget
1500 Projects
(670 Companies)
$ 130 millionFor “New Clients”
2018 Numbers
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NeutralityGrants based solely on
technological excellence
and business potential
Risk TakingFinancing with conditional
loans; repayable
by royalties
(no equity)
MatchingCo-Invest with the
private sector
Principles of the Israeli
Innovation Policy
Enabling the Market - Not Leading It
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Why Should Governments Invest in R&D?
Complementing private market investments by addressing
market failures
✓High risk investments
✓ Early stage
✓ Lengthy ROI sectors
✓Future tech waves
✓National infrastructures
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25,000
Promoting Innovation in Israel
REDUCE
Regulatory Hurdles
PROVIDE
Financial Tools
SUPPORT
Innovation Vehicles
• Regulatory sandbox
• Pilot programs
• Tech governance (WEF)
• Debt Tools
• Institutional investments
• Direct Funding
• Innovation lab
• MNC programs
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Government Facilities as Beta Sites
✓Companies benefit from field testing options
✓Public infrastructures exposed to high-end innovative solutions
✓Government entities adjust regulations to promote innovation
ICT
Authority
Interior
AffairsAgricultureHealth Transport
Environment
Protection
National
Cyber
Directorate
TourismSecurities
Authority
Construction
&
Housing
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The Challenge - Valley of Death…
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The Solution - Funding at later stages
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Pilot Program – A joint program of the Innovation Authority,
Digital Israel Bureau and the MoH.
How does it work?
• Biannual call for applications
• Technology companies submit a request for funding, with a health organization as a subcontractor
• Comprehensive screening process conducted by Innovation Authority, in conjunction with representatives from Digital Health Department in Ministry of Health
• Selected proposals receive between 20-50% of funding for pilot (or more, if for infrastructure pilots) according to matching
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Years of
EMR records World’s
2nd
largest centralized
EHR system
Digital health
companies20+
580
(Bloomberg)
World’s
4th
Healthcare system
Unique Digital Infrastructure
Source: Global Innovation Index 2017
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Thank You