Tnuva won: will operate the food-Tech incubator to be built in Kiryat Shmona

by Ifi Reporter Category:Government Jun 11, 2019

Tnuva won the tender to operate the food-Tech incubator to be built in Kiryat Shmona. The innovation authority announced on Tuesday. The venture capital fund JVP and Tnuva competed in the tender. Each of them established a consortium of companies, funds and research bodies in the field of food-tech. In addition to operating a start-up incubator in cooperation with the Innovation Authority, the terms of the tender include the establishment of a food innovation institute in Kiryat Shmona, which will be integrated into the regional eco-system.
Tnuva, controlled by China's Brightfood, has announced a partnership with the Israeli beverage company Tempo, the US-based Pudister fund and the mass investment platform OurCrowd. The group announced in advance that it would invest $ 100 million in the company's projects in the Galilee.
The JVP fund was supposed to invest $ 204 million in the development of the local eco-system in the field of food-tech and to set up development centers for the international companies that will be located in the Galilee.
According to the government plan, the Ministry of Economy will invest more than NIS 65 million in promoting the field. It was also decided to support traditional industrial plants in Kiryat Shmona and Shlomi by means of a path to raising productivity - totaling up to NIS 15 million. NIS 18 million will be invested in completing development in the northern industrial zone in Kiryat Shmona. NIS 5.4 million will be invested in completing the development of the Shlomi industrial zone.
The new incubator in the north is being launched as part of the government's plan to promote Kiryat Shmona, Metula and Shlomi. The plan includes the allocation of tools for the advancement of the Podtech field in the Kiryat Shmona area, in order to create an innovative ecosystem in the region. In this framework it was decided that the Ministry of Economy will allocate NIS 100 million to develop the field of food-tech and to support entrepreneurs and industry in these cities.
 The plan includes the establishment of a project to support entrepreneurs and small industrialists in the field of food-tech through the construction of a micro-industrial complex that will serve as a kind of incubator for innovative plants
in the field. The plan also includes prioritization of investments in the food sector in the Kiryat Shmona area through the allocation of land exempt from tender and capital investments under the Encouragement of Capital Investments Law. The incubator in the north will join the summer incubator in which another giant Israeli food partner - Strauss.
Research firm IVC, which specializes in Israeli high tech, warned before the tender that if Brightfood, the controlling shareholder of Tnuva, wins it, an international dispute could break out due to the Chinese approach to Israeli food technology. The analysis published by IVC relates to tense trade relations between China and the United States, including US President Donald Trump's announcement in late May that US telecommunications companies should not share technology with 69 Chinese companies. Against this backdrop, it was written that the win of BrightPod in the government's PodTech incubator tender is liable to plunge Israeli high-tech into a whirlpool of international dispute with the United States. The report therefore states that the trade war between the United States and China carries potential for damage not only in the capital and industrial markets of the United States and China, but also in Europe and Israel.
According to IVC data, multinational Chinese companies hold 13 companies in the life sciences, cleantech, chip, communications and more. The leading Israeli companies in Israel are Wavi, which employs 400 people at its Israeli R & D center, and Midea, which acquired Servotronix, which employs 200 people.



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