CTech’s Monday Roundup of Israeli Tech News

CTech’s Monday Roundup of Israeli Tech News

Former Google CEO Eric Schmidt to visit Israel. U.S. Treasury Secretary Mnuchin discusses tax reform with Israeli counterpart. Report says Israel’s life sciences industry is dominated by small scale startups

CTech  18:18  14.05.18

Former Google CEO Eric Schmidt to visit Israel. Mr. Schmidt, who visits Israel often, is a founding member and the main backer of venture capital firm Innovation Endeavors, which has offices in New York, Silicon Valley and Tel Aviv. The firm is currently in the process of raising a new $300 million fund that is nearing closure. Read more

Clashes between Paletinian protesters and Israeli forces. Photo: AFP Clashes between Paletinian protesters and Israeli forces. Photo: AFP Clashes between Paletinian protesters and Israeli forces. Photo: AFP

U.S. Treasury Secretary Mnuchin discusses tax reform with Israeli counterpart. Mr. Mnuchin is visiting Israel for the inauguration ceremony of the new U.S. embassy in Jerusalem on Monday. In parallel to the visit, violent clashes between Palestinian protesters and Israeli armed forces at the Israel-Gaza border result in at least 40 Palestinian casualties, so far. Read more

Regional violence highlights a Middle Eastern arms race. President Trump’s withdrawal from the Iran Deal unveiled a small portion of an arms race that has been underway in the last few months throughout the Middle East, writes Amir Rapaport, founder and editor in chief of IsraelDefense Magazine. Read more

Israel’s life sciences industry is dominated by small scale startups. Israel's life sciences industry has experienced 81% growth over the past decade, with around 130 companies founded every year on average, according to a new report, though half of that number ceased to operate. Most of the industry’s employees are divided between its largest companies, meaning that 65% of Israel-based life sciences companies employ 10 people or fewer. Read more

Using flywheel batteries to charge electric vehicles in ten minutes. Chakratec Ltd., an Israel-based battery startup, raises $4.4 million as it tackles some of the last obstacles holding back electric cars. Read more

 

Jerusalem soccer club plays “Trump” card. Following U.S. President Donald Trump’s decision to move the U.S. embassy to Jerusalem, and just one day before its inauguration, Beitar Jerusalem announced its intention to add the president’s last name to its club name in a Facebook post on Sunday. Read more

HSBC opens office devoted to China-Israel business ties. The new office launches as Chinese companies increasingly look to Israel for tech innovation and as China’s One Belt One Road Initiative opens up new investment opportunities. Read more

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