IIA launches ten­der for sec­ond biotech in­cu­ba­tor

BioSpectrum (Asia) - - Start-Up-News -

The Is­rael In­no­va­tion Au­thor­ity (IIA) has launched a new com­pet­i­tive ten­der to open its sec­ond biotech in­cu­ba­tor. The Au­thor­ity’s tech­no­log­i­cal start-up in­cu­ba­tors have proven them­selves an im­por­tant tool for cre­at­ing in­no­va­tive com­pa­nies in a va­ri­ety of fields. This ad­di­tional biotech in­cu­ba­tor will serve as a gate­way for multi­na­tional phar­ma­ceu­ti­cal com­pa­nies and spe­cial­ist in­vest­ment funds to sup­port Is­raeli start-ups.

This is an­other part of the on­go­ing North­ern Plan which will reach NIS 920 mil­lion by the end of 2018. Fol­low­ing the gov­ern­ment’s de­ci­sion that the Au­thor­ity ex­am­ine the pos­si­bil­ity of estab­lish­ing a biotech in­cu­ba­tor in the north, the IIA board de­cided to launch a new com­pet­i­tive ten­der for a sec­ond biotech in­cu­ba­tor, fol­low­ing the suc­cess of the pre­vi­ous ten­der won by Fu­tuRX.

It is hoped the new biotech in­cu­ba­tor will help build the phar­ma­ceu­ti­cal in­dus­try in Is­rael by con­nect­ing in­vestors and strate­gic part­ners who can help iden­tify in­no­va­tive tech­no­log­i­cal projects and help trans­form them into new com­pa­nies. The pro­gramme is un­der­go­ing an ap­proval process as man­dated by law.

The first ten­der brought two multi­na­tional cor­po­ra­tions to Is­rael: John­son & John­son from the US and Takeda from Ja­pan, to­gether with the longestab­lished ven­ture cap­i­tal fund Or­biMed.

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