Harbin, China (archives)
Photo: Reuters

Infinity, China to invest in Israeli firms

IDB-controlled fund joining forces with Chinese government to encourage Israeli business in Harbin, thus far selecting six companies from fields of life sciences and cleantech that will be granted funds

Infinity Israel-China, founded by IDB-owned Clal Industries, will invest along with the Chinese government $10 million in 10 Israeli companies that choose to do business in Harbin – China's 10th largest city, which has some 10 million residents.


Infinity Fund which manages some $700 million has thus far signed agreements with six Israeli companies that will conduct activity in the town.


"The initiative is the first step in an overall program which aims at encouraging Israeli companies and technologies to enter the Chinese market and initiate real activity there," Infinity Israel-China founding manager Amir Gal Or explained to Calcalist. "At a later point, additional companies will be selected to partner with Infinity in businesses in cities throughout Chins".


The fund designated for activity in Harbin manages an overall $30 million and is one of 10 finds earmarked for activity in cities throughout China. For this end, Infinity holds offices in multiple cities throughout the country among them Beijing, Shenzhen, Harbin, Hong Kong to name a few. The fund also has offices in Tel Aviv and New York.


The Harbin joint venture will focus on the completion of product development, engineering activity and business development. The Chinese will grant the companies either zero-interest loans or loans with minimal interest in return for company shares.


Furthermore, the companies will enjoy free services and production infrastructures, assistance with IP registration, bookkeeping services, legal services and labor. Company representatives will enjoy various amenities to assist them with their relocation to Harbin.


The six companies, which joined the initiative are which expected to begin operating in Harbin within the next two years, are: EVR Motors which develops wind-turbine generators; Eternegy, which operates in the field of PV panels; BotanoCap – a manufacturer of botanical pesticides; IIS dental implant company; Sonarium Medical, which develops breast imaging systems; and ROTEC which developed a technology to identify and prevent pipe sediment in water treatment facilities.


By October, another four companies will be named to join the initiative as per their suitability to the Chinese market.


Click here to read this report in Hebrew



פרסום ראשון: 08.16.11, 17:37
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