Minister of Health and Welfare Olmert: In Jerusalem there is a "Golden Triangle" that enables the development of the biotechnology industry thanks to the combination of the Hebrew University, Hadassah Hospitals and the Biotechnology Industries Cluster
The Biotechnological Incubator Committee headed by the Chief Scientist at the Ministry of Science and Technology, Dr. Eli Ofer, met last week and chose a concessionaire to operate the Biotechnological Incubator in Jerusalem.
The group that won the concession to operate the biotechnological greenhouse is the "Bioline R. X" consisting of Teva, venture capital funds Pitango, Giza, Star Ventures, Yehuda Zisafel as well as Hadassit (Hadassa's implementation company) and the Jerusalem Development Authority.
Minister of Foreign Affairs and Trade, Ehud Olmert, noted that in Jerusalem there is a "golden triangle" that enables the development of the biotechnology industry thanks to the combination of the Hebrew University, Hadassah Hospitals and the Biotechnology Industries Cluster. Minister Olmert stated that the establishment of the new biotechnology incubator It is an important step in the effort to promote the biotechnology industry in Israel.
Dr. Eli Ofer, the chief scientist at the Ministry of Research and Development, notes that only recently did the research committee decide to recognize the field of biotechnology as a preferred field for receiving grants from the R&D Fund. "I believe that these steps will help realize the comparative advantage that exists in Israel in the field of biotechnology."
Ofer further added that "in Israel, the basic conditions for extensive development of the bio industry exist, among other things due to academic excellence, a high rate of applied research capable of combining different disciplines and due to Israel's leadership in a number of subfields, including stem cell research, and the nervous system.
Renee Pridor, director of the incubator program, states that this is a very serious group that brings together rich technological knowledge, management with diverse experience in the field, available financial capital, specialization in venture capital, access to knowledge bases and other means that will help biotechnology ventures develop into leading companies and products.
background:
The Technology Incubator Administration in the Office of the Chief Scientist published a call for proposals for the establishment of biotechnological incubators at the beginning of July this year. The instructions of the call stipulated, among other things, that one greenhouse would be built in Jerusalem.
According to the instructions of the tender, a group that wanted to compete for the establishment of the new greenhouse had to be registered as an Israeli corporation, with rights to use a building suitable for at least 8 greenhouse projects as well as suitable infrastructure for operating a central laboratory. The incubator team will provide the projects with management services and accounting, financial, legal, patent registration, quality control, regulatory, informatics and clinical trials services. The franchisee undertakes to operate the greenhouse for 6 years and with an investment of at least NIS 2.7 million per year.
The duration of a project's stay in the greenhouse will be up to a period of 3 years and the approved budget will not exceed NIS 8.1 million. In order to carry out the project, a state loan will be given for the project at the rate of 85% of the budget in the first year, 80% in the second year and 75% in the third year.
