This is according to data published in preparation for the 2008 Biomed Israel conference * The funds were invested in approximately 100 projects submitted by 49 companies
From summaries prepared by the Office of the Chief Scientist, ahead of the "ILSI-Biomed Israel 2008" week, which will be held on May 27-29 in Tel Aviv, it appears that in the six months between November 2007 and April 2008, the Office of the Scientist approved budgets for life sciences in the amount of NIS 305.4 million. In the division into fields, a budget of NIS 77 million was approved for the field of pharmaceuticals; For the field of biotechnology - 153.9 million NIS, and for the field of medical equipment a budget of 74.5 million NIS was approved. In total, the committee discussed 100 projects submitted by 49 companies. Out of the NIS 305.4 million, R&D grants amounting to NIS 122.5 million were approved from the R&D fund of the Chief Scientist's office.
According to the data, the scope of support in the field of life sciences continues to grow, and takes up nearly a third of the chief scientist's budget 'pie': in 2000, the scientist allocated about 14% of his budget to the field; In 2003 the scope had already reached 22%; In 2006 the percentage of support rose to 28% of the total budget, and in 2007 it reached 30%.
The total scope of the chief scientist's research and development grants for life science ventures was NIS 2007 million in 359, compared to NIS 348 million in 2006. In the division by fields, in 2007 the field of medical devices received the largest share of the scientist's R&D grants - 148.5 million NIS (41% of the grants in the field), an increase of 33% compared to 111.4 million NIS in 2006. The field of biotechnology kept, more or less , for his part - NIS 132 million (37%) compared to NIS 138 million in 2006, while in the field of pharmaceuticals the support decreased from NIS 98 million in 2006 to NIS 84.7 million (22%) in 2007.
Chief Scientist Dr. Eli Ofer states that the State of Israel has excellent centers of excellence in academia, an entrepreneurial spirit and technological capabilities in the field of life sciences, which together lead to Israel's positioning as a significant factor in the global aspect. The uniqueness of the industry in Israel is expressed in the combination of life sciences with other fields, such as Nanotechnology, smart materials and advanced electronics. The scientist adds that the Office of the Chief Scientist is committed to continuing to support and assist the life sciences sector. and gives priority to this field, and that he believes that in order for this industry to realize its potential, resources must be allocated on a large scale and in the long term. Dr. Eli Ofer also noted that the chief scientist's funds leverage large investments that would not have been made at all without the support of the state. The leverage ratio is about 1:3 directly, and can reach ten times or more down the road.
"The grants distributed by the Chief Scientist are critical to the growth of the biomed industry in Israel, since they reduce the risks that exist in the early stages of developing a medical product. The Chief Scientist supports young companies that, without him, would have difficulty financing the first steps in the development of medicines and medical devices," says Ruthi Alon, director Partner in the Pitango Foundation, chairman of the Life Sciences Industry Association (ILSI) and chairman of the "ILSI-Biomed Israel" week 2008". According to her, "The Israeli life sciences industry is developing impressively, and many start-up companies present 'hot' medical products, and are in the stages of sales or clinical trials. The international event that will take place in Israel, with a record attendance of lecturers and exhibitors from abroad and in the country, is proof that all investments in the industry giving their signals".
"ILSI - Biomed Israel 2008" week is the main event of the life sciences industry. It will be held this year (this is the seventh time) between May 27 and 29 at the "David Intercontinental" and "Dan Panorama" hotels in Tel Aviv. Biomed week includes an international professional conference starring the best experts, and an exhibition, presenting the hottest medical innovations. This year, on the occasion of the 60th anniversary of the State of Israel, a central stage will be given to 70 Israeli start-up companies, the most advanced in the industry, both in the field of biopharma and in the field of medical devices. At the same time, two other events will be held: the 2nd International Conference on Stem Cell Research, and the ISRACAS 2008 Conference, the 11th Conference on Computer-Based Surgery, Medical Robotics and Medical Imaging. The Israeli Biomed Week is designed to attract, once again this year, about 6,000 CEOs and executives of biomed companies, scientists and researchers, managers of venture capital funds and angel investors, from Israel and abroad.
Event website: http://www.kenes.com/biomed.
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Ami:
Why do you suppose companies don't want to work efficiently? After all, the money they save improves their situation. Do you think they want to pay Bill Gates more than they want to pay themselves?
I did not read the article. Just the title. I will respond even after I read, but this is my first response.
305 million for 49 companies, that's about 6-7 million per company. I am sure that the money is not divided equally and of course different companies have different number of projects.
But who said there is no money? OK, a million and a half dollars is not a lot, but it is money from the tax payer and it can provide great research (within certain limits). The main question is how it is optimized. Do you put Windows on all the lab computers or do you use Linux and the money you save buy another PCR device or whatever? The efficiency in the use of research funds, it seems to me, is the weak point and not the initial funding.
And now to read the article!