Israel sponsors 4 new start-ups

Chief Scientist at Ministry of Industry, Trade and Labor approves NIS 8.2 million in support for new technology companies
Tani Goldstein

The Technology Incubators Committee at the Ministry of Industry, Trade, and Labor has approved the establishment of four different companies. The ministry will grant these companies NIS 8.2 million (USD 1.8 million)

The Technological incubators, under the supervision of the Chief Scientist, provide framework and support for nascent companies to develop their innovative technological ideas and form new business ventures in order to attract private investors.

The Technological incubator in Beer Sheva will host Audionet, which develops a hearing device that is fitted in the patient's mouth. The company's aim is to improve the sound quality of hearing aids and allow people who are hard of hearing to dispose of uncomfortable conventional hearing aids and the stigmas associated with wearing one.

The Technology incubator Meitav in Kiryat Shmona will be the home of Stimplant, which develops a surgical device to treat obesity. The system is aimed at reducing clinical risks for patients who undergo obesity procedures and is based on a tiny invasive instrument that will be inserted in a patient's body.

The Bioline Technology incubator in Jerusalem is the new home of a company that develops tiny molecules to treat pain, and the NGT incubators in Nazareth will add a new company that develops a thermal system to treat cancerous tissue.