SOLVVE team has just returned from the Israeli Ukrainian Innovation Expo which took place in Tel-Aviv from 18th to 19th of March. During these two days businessmen, innovators, venture capitalists and many other professionals involved in startups in Israel and Ukraine gathered under one roof to present their work and share their experience. Let’s take a closer look at why Israel and its Silicon Wadi (Silicon Valey) are worth the attention of the healthcare industry experts.
The State of Market
Israel is known for its highly developed healthcare system where health and biotech startups thrive. It draws the attention of tech companies and those who are willing to invest in it. The consumer market is ready to embrace the latest healthcare technologies and solutions.
Today’s high-tech boom taking place in the country gives Israel a chance to become a strong player in lots of areas where traditionally the country has not been leading. The country’s high status in innovation is evident. In the latest World Economic Forum’s global competitiveness index for 2017-18, Israel moved up 8 places into 16th. Out of 137 countries, Israel appeared to be the only new one to burst in the top-20. Speaking of today, Israel is being called “Start-up Nation” as well as “Silicon Wadi”.
Such achievements attract huge investments. For example, $15.3 billion Intel paid for Mobileye in March 2017, the technology company that developed the vision-based advanced driver-assistance system. There are other notable transactions of the last 10 years that are worth mentioning. For example, the acquiring of Waze by Google for over $1 billion in 2012, the selling of the security software company Trusteer to IBM for $1 billion in 2013, and Cisco’s acquiring of the mobile phone software company Intucell for $475 million in 2013.
Digitalized Healthcare in Israel
Israel is keen on utilizing multifunctional and interoperable electronic medical record systems. Each Israeli resident has a magnetic membership card that is widely accepted to trace transactions. The Ministry of Health provides the all-around and well-integrated health information and communication system. There is an increasing number of the aging population in Israel. Consequently, products that help to monitor their state of health at home are in great demand.
The country has a digital health tech base at its disposal and it is an undisputed world leader in mobile and eHealth realizations. Nevertheless, there is a demand for more advanced drug monitoring and illness observation nevertheless.
We spent the days of the event meeting the participants and partners to discuss our future cooperation. Moreover, our COO Andrey Yuschenko gave a presentation about SOLVVE and its services.
Our team has also visited Rabin Medical Center (RMC) which is a major hospital and medical center located in Petah Tikva. RMC is the only place in the country that performs multiorgan and live-donor liver transplants.
We are looking forward to collaboration with our new Israeli partners.