Naiot incubator boasts 80% success rate

The Yokne'am incubator focuses on medical device start-ups

The Naiot Venture Accelerator was one of the last government incubators to be privatized. However, de-facto the incubator has been run like a private company for years and many claim it was the model for the government privatization program.

If the success of an incubator start-up venture is its subsequent ability to raise investment funds then most Naiot graduates are successes. Naiot CEO Haim Eliash said, "80% of the companies that have graduated up until today raised funds of $500,000 or more. "We try very hard to see that the funds are not only raised from Ofer Hi-Tech but bring in at least one more partner to fix the company's value"

Successful graduates of the Naiot Venture Accelerator include: cardiovascular balloon developer Angioslide, biofunctional ingredients supplements company Enzymotec Ltd., CorAssist Cardiovascular Ltd., catheter device developer Endocross Ltd., retractor maker EZ Surgical Ltd., stem cell company Multi Gene Vascular Systems Ltd. (MGVS), and Rimon Medical Ltd., which was sold to Boston Scientific for $135 million.

The Naiot Venture accelerator is owned by Ofer Hi-Tech Group the venture capital investment arm of the Ofer family and Udi Angel, and it only officially became a private company several months ago. According to Assif Stoffman a partner with Ofer Hi-Tech, a member of Naiot's board of directors and a former CEO of the incubator, the pre-privatization management structure suited Ofer Hi-Tech.

He said, We loved the government model. We allocated supplementary funding and the companies paid us back with royalties."

He added, "We did not build companies designed for a huge exit, but medium sized companies that quickly reached sales revenue and paid the incubator handsome royalties."

In effect, Naiot is the seed fund of Ofer HiTech.

In the medical device sector investments are varied and 20-30% of investments in software,

5 Comments
View comments in rows
Update by email about comments talkback
POST
Comments
Your name
Please insert your name
Content
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

Thanks
You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments
MORE FROM GLOBES
Biolight jumps on strong Zacks recommendation

Zacks cites the company for its technology, products, and meeting its targets.

VBL Therapeutics raises $40m in revived Nasdaq IPO

After the fiasco of the failed IPO in August, the drug development company scaled down the offering.

Assuta Hospital Gov't plans taxing private hospitals

The tax is one of the recommendations of the Economic Arrangments bill.

Erez Vigodman Teva boosted by European drug recommendations

Teva's share jumped 4% in Tel Aviv, after climbing 4.9% on Wall Street.

Partner/Orange Partner launches smartphone medical services

The new services includes prescriptions, hospital referrals, and confirmation of illness.

Reuven Krupik Clal Biotech unit PolyHeal nears licensing deal

PolyHeal has signed an MOU with a European drug company for an exclusive global license.

Nasdaq Galmed jumps on FDA hepatitis drug approval

The FDA awarded Fast Track Designation to aramchol for the treatment of Non-Alcoholic Steato-Hepatitis.

artificial sweeteners Weizmann Inst: Sweeteners cause diabetes, obesity

A study found that artificial sweeteners adversely affect intestinal bacteria.

BioCancell share jumps on positive cancer trial results

The clinical trials demonstrated safety and effectiveness of the treatment on high-risk bladder cancer patients.

Trendlines Group set for Toronto IPO

The technological incubators company is raising C$9 at a company value of C$80 million, after money.

Reuven Krupik Clal Biotech sues Hyperion for $200m

Clal Biotechnology alleges Hyperion made "rash and ill-considered" decisions in the Andromeda affair.

pharmaceuticals Clal Biotech: No evidence of misconduct by us

Clal Biotech says documents it was shown by Hyperion do not indicate it committed any misconduct regarding Andromeda.

Soroka Hospital  picture: Eyal Yitzhar Visiting Israel’s wounded at Soroka

Soroka Medical Center in Beersheva, the Israeli hospital closest to Gaza, bears the medical brunt of Operation Protective Edge.

Twitter Facebook Linkedin RSS Newsletters גלובס