Today, Israel is the global leader in innovation, entrepreneurship, and product innovation. With more than 6,000 scientific and technological ventures, Israel has the highest number of innovative enterprises per capita in the world. The technology industry constitutes over 90% of the country’s GDP. However, due to Israel's land area, companies seeking to expand operations overseas often look to other markets, such as Europe, the US, and China.
In recent years, China has become increasingly popular with Israeli entrepreneurs. Geektime has researched Israeli entrepreneurs since October, collecting feedback from more than 300 startups over a month-long survey and eventually choosing Top 5 programs -- China's optimal startup acceleration platform.
The survey was conducted in five main dimensions:
5. StartupEast China (SEC)
Founded in 2014 and registered in Hangzhou, China, StartupEast China (SEC) has established branches in Beijing, Shanghai, and other cities. SEC is an open and innovative cross-border platform for Israeli startups to enter the Chinese market. It provides enterprises with three types of services, including a one-stop start-up international platform, a one-stop start-up international financial service, and international business development assistance.
4. Infinity
Infinity Group focuses on cross-border investment in the Chinese market. Its core strategy involves seizing fast-growing Chinese economic opportunities, leveraging Israel's patented technology, and investing in companies that can utilize Israel's innovative technology to become industry leaders in China. Infinity Group's investment model of "innovative technology introduction and cross-border capital investment" has been highly praised and been endorsed by governments throughout China. In addition, Infinity Group has formed strategic partnerships with many international and domestic enterprises in various sectors, including smart cities and science parks, modern agriculture, IT and communications, healthcare/life sciences, security, modern agriculture, education, energy conservation, cleantech, environmental protection, and new materials. Infinity Group has also previously made extensive tech-focused investments, both domestically and internationally, to help Chinese enterprises "go global.”
3. Shengjing Capital
Shengjing Peakview Capital is a Chinese innovation and entrepreneurship service platform. In July 2017, the first phase of the Ministry of Economy and Industry of Israel’s cross-border innovation accelerated project began. Shengjing Peakview Capital selected Israeli startups to receive business and capital support services to help them to integrate into Chinese business culture as they seek assistance penetrating the local Chinese market. Shengjing Peakview combines Israel's innovation ability with China's capital, market, and industrial abilities to effectively solve the rapid growth and development of Israeli science and technology innovation companies in China.
2. TechCode
Established in March 2016, TechCode’s Israel China Innovation Center is an incubator built by TechCode Technology Entrepreneurship Development Co., Ltd. and equipped with TechCode Innovation Services Incubation System. The Center actively explores the new mass-border industrial value chain integration model, starting with connecting Israel's advanced sources of technological innovation. It opens up all critical links, from basic and applied research to incubation landing, bringing Israeli technology into China for industrialization.
TechCode has infiltrated Tel Aviv’s innovative ecology and the Chinese market via investment roadshows, vertical accelerators, industrial floor consulting, and more to ensure seamless market integration. This enables TechCode to attract high-growth enterprises in China’s three major industrial sectors (artificial intelligence, significant health, and new materials) in different ways, and become recognized as a leading innovation platform in Israel.
1. HCH Ventures
HCH Ventures’ Israel incubator opened in 2017. Using Haier's open industrial ecosystem resources and global advantages, the offshore incubator and domestic accelerator dual-core base formed an "overseas pre-incubation - local accelerated incubation" of the international technology-transfer model, which is co-created with Qingdao International Business Club (Israel). The offshore incubator connects users to innovative resources such as the Israeli Government, incubators, industry associations, universities, and innovation projects in the local innovation network. Offshore incubators rely on local innovation soil and targeted incubation innovation projects to bring high-quality innovation projects, high-tech talent, and other resources to the market.
HCH Ventures’ incubator Israel project has over 260 projects in its ecosystem, including over 20 projects accelerated in the last few years. These have spanned Israel's key sectors, including biomedicine, artificial intelligence, and network security.
Impact of HCH’s Tier 1 ranking
The recognition of HCH Ventures as a Tier 1 ranked accelerator platform has had important ramifications on business, empowering HCH to attract lucrative and market-leading business projects.
For example, with the assistance of HCH’s accelerator platform, a new partnership has been established with Vayyar, an Israeli company developing RF imaging technologies. The partnership is centered around creating a new IoT ecosystem based on advanced touchless sensor technology. As mentioned in the announcement, the collaboration will enable Vayyar to leverage Haier’s massive footprint in the Chinese ecosystem and expand throughout the country and beyond.
Vayyar's RF imaging offers a touchless sensor-based solution that paired with the Chinese electronics and consumer products giant could significantly improve care for China's growing elderly population.
Vayyar has created a very advanced System-on-Chip platform to provide solutions for a variety of industries, including senior care, automotive, retail, security and more. Vayyar’s mission is to deliver the next generation of sensing technology that is miniature, highly secure, affordable, and versatile enough to help create a safer world.
“Through its office in Israel, HCH has been tracking Vayyar’s RF imaging System-on-Chip performance for over two years and this is a very exciting moment for both companies who have now joined forces. We are eager to work together to set the standards for a smarter and safer living environment for seniors in China," said Daniel Oleiski, the CEO of Haier HOPE Israel and Head counselor HCH Ventures IL.
China has an increasing challenge to provide quality care for a rapidly aging population, for whom a simple tumble down the stairs could lead to extensive injuries or even death. This issue is combined with the fact that currently, almost 120 million people in China live alone, and according to the report is expected to grow to over 400 million people aged 60 or older by 2040.
“Cutting-edge imaging sensor technology can keep elderly loved ones safe, enhance security, and boost energy-efficiency, and I see exceptional opportunities for strong, sustainable synergy moving forward”, said Liu Changwen, the General Manager of HCH Ventures, the Haier subsidiary leading this Joint Venture. “The JV is a remarkable milestone for HCH’s cross-border dual-core incubator.”
Supported by and in partnership with Vayyar, Haier will now leverage its global network of R&D centers, global reach, robust sales channels, and strong supply chains to define the eldercare and smart home sectors for decades to come. “Vayyar is excited to partner with HCH to deliver best-in-class fall detection that will make China the world leader in protecting the elderly while respecting their privacy and independence,” said Raviv Melamed, Vayyar Co-founder, and CEO. “Haier’s innovative IoT and smart home devices will improve quality of life and longevity for older adults, aligning perfectly with Vayyar’s vision and the capabilities of our technology.”
