Comverse plunges after disappointing results
The start-up has developed a system for analyzing big databases for retail and e-commerce customers.
Content Based 4Casting Ltd. (C-B4) has won The Pitch competition, which concluded the "Globes" and Ernst & Young Israel 2012 Journey Conference. The competition, in which 160 companies participated, is intended to provide a stage for start-ups, some of which are still in the pre-seed stage, to present their products and visions to a panel of judges. The winner will receive a package of services worth $20,000 from Google Israel Ltd., business and financial advice from Ernst & Young Israel, and legal advice from Meitar Liquornik Geva & Leshem Brandwein Law Offices.
C-B4 analyzes business data, which fits the current enthusiasm for big data technologies. The company has developed a system for analyzing big databases for retail and e-commerce customers. It was founded by CEO Prof. Irad Ben-Gal and CTO Dr. Gonen Singer, and has filed for a patent for the technology they developed at Tel Aviv University. The company has not yet raised substantial amounts of capital, but it has several customers.
The Pitch competition provided the audience and companies experience of making presentations to investors in the form of a quick sales speech, or pitch, after which each company is rated on the basis of various criteria. The competition, derived from reality shows, is a joint initiative of Ernst & Young Israel and Canaan Partners, and is managed by Ernst & Young Israel partner Noam Canetti and Canaan Partners general partner Izhar Shay.
The seven finalists made their pitches to an audience 25% of whom were investors, 35% were entrepreneurs, and 40% were other high-tech executives. The judges included four mentors, reflecting the super angels trend in Israel: Canaan Partners general partner Dan Ciporen, formerly CEO of Shopping.com, who will mentor the winner; Dov Moran, co-founder of msystems and modu; former 888 Holding plc (LSE:888) CEO Gigi Levy; and investor Oren Dobronsky, founder and CEO of Hotbar.
Although the audience included many venture capitalists, the focus on angel investors fits with the trend underway in Israeli high tech. The food chain of high-tech investments has been transformed in recent years, with the place of venture capital funds in early-stage investments being taken by angel investors, incubators, and micro-funds. These investors target new companies at the nexus of high-tech's contemporary hot trends: mobile, social networks, and reliable Internet access.
Published by Globes [online], Israel business news - www.globes-online.com - on October 29, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012
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