News for July, 2010

IBM’s IT knowledge being used to conserve water

Tuesday, July 27th, 2010

by Ehud Zion Waldoks

Scientists at IBM Research- Haifa have developed complex algorithms that can help minimize water loss from burst pipes, streamline maintenance and reduce general water loss and even predict breaks, Pnina Vortman, senior manager, research scientist, and Smarter Planet Solutions leader told the Post on Monday. http://www.jpost.com/Israel/Article.aspx?id=182723

Environmentally friendly fertilizer co Ecofer raises NIS 2.47m

Monday, July 26th, 2010

by Globes’ correspondent

Ofakim Hi-Tech Ventures is raising NIS 2.47 million in investment funding for its portfolio company Ecofer Ltd., which develops environmentally friendly fertilizer systems. NIS 2.1 million of the investment in Ecofer has been approved by the Office of the Chief Scientist, with the balance being invested by the company’s entrepreneurs. Capital Point Ltd., which owns the Ofakim Hi-Tech Ventures incubator notified the Tel Aviv Stock Exchange today about the investment agreement. Ecofer develops automatic fertilizer systems based on software and sensors, which makes using fertilizers cheaper and more efficient. http://www.globes.co.il/serveen/globes/docview.asp?did=1000577267&fid=1725

PwC report shows sharp rise in start-up investment

Monday, July 26th, 2010

by Batya Feldman

The latest Kesselman and Kesselman PricewaterhouseCoopers Israel MoneyTree report shows investments in Israeli start-ups totaled $206 million in the second quarter of 2010, up 21% from the preceding quarter, and up 27% from the corresponding quarter of 2009. Total investments in Israeli start-ups in the first half of 2010 amounted to $376 million, a slight rise over the $356 million invested start-ups in the first half of 2009. The upward trend was led by the medical devices and biotech sectors, while investments in Internet start-ups bounced back to the levels of recent years after low levels of investment in the first quarter of 2010. http://www.globes.co.il/serveen/globes/docview.asp?did=1000577247&fid=1725

Israel’s clean tech clicks with Ohio’s

Sunday, July 25th, 2010

By Karin Kloosterman

Klara Oren, CEO of the Israeli clean tech-focused incubator LN Greentech, started the company in her living room in the early ’90s. She thought it would be a good way to help Israel’s new immigrants from Russia to integrate. Back then the focus was on biotech, and the government liked her approach so much that it provided funding to help transform research ideas into companies. Following business trips from Israel to Ohio, and those bringing Ohioans to Israel, last month LN Greentech signed a deal with the Ohio Clean Technologies Group, which is designed to create more than 2,000 sustainable jobs in the Midwestern state’s Mahoning Valley. The group’s vision includes plans to bring clean technologies in alternative energy and clean energy to market. And it includes Israel as well. http://www.israel21c.org/201007258146/environment/israels-clean-tech-clicks-with-ohios