Negev startups compete for NIS 500,000 award

startups

The SilicoNegev final will take place on May 10.

Beersheva has been undergoing rapid development in recent years, spearheaded by the government, the IDF, startups, and entrepreneurs. The volume of activity is nowhere near that of Tel Aviv and the central region. At the same time, there are quite a few projects aimed at fostering innovation and entrepreneurship, as well as 111 active startups, at least 50 of which were founded in 2016, 85% more than in 2015. One of the outstanding signs of the Beer Sheva startup boom is the SilicoNegev startup competition taking place in the city for the first time. The final round for the 10 finalists will take place on May 10, and the winner will receive a NIS 500,000 investment.

One of the startups in the competition is BIGVU, which has developed a platform for quick editing of videos – something like PowerPoint for videos. The platform is an alternative to the Time-Line-based video clips system, which takes a great deal of time, and requires professional editing skills. The patented BIGVU platform is based on an artificial intelligence (AI) algorithm, through which it is possible to create storyboarding using a series of scene cards composed of a variety of clips, pictures, and tweets. The platform turns these items into a single long video. IBM's most recent projection for the cloud-based video market is $105 billion in 2019.

Another top-10 finalist: SIGA

SIGA's SigaGuard product is the only one in the world that works for all critical systems and infrastructure, such as electricity, nuclear facilities, water, transportation, and food, that are exposed daily to cyber attacks and systems failures capable of shutting down cities and entire countries.

The company's product is able to spot any deviation in the routine activities of systems caused by a cyber attack or severe technical malfunction. It provides the system operator with response time for intervening and preventing further deterioration.

Also taking part in the competition are Consis Medical, which manufactures an innovative disposable colonscope; Persimio, which works on scientific calculation tools for orthopedics; and other computer and media companies, such as L7 Defense, HC Vision, Xtrma, Croosing, and Zipy Holdings.

Despite its geographic classification as an outlying area, there are many who regard Beer Sheva as Israel's Silicon Valley because of the municipality's strong involvement in high-tech, the city's academic prowess, the improvement in its transportation infrastructure, the plans for moving IDF bases to the Negev, and the Beer Sheva high-tech park. Founded four years ago, the park currently numbers 40 companies and 1,800 employees, most of whom live in the area.

Published by Globes [online], Israel Business News - www.globes-online.com - on May 7, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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