Hadasit - the Technology Transfer Company of Hadassah Medical Organization has launched Ways, an incubator for joint Jewish-Arab biomed ventures in the Galilee. Ways is a joint venture with a group of investors from the region.
Hadasit has pledged to invest NIS 7.5 million in Ways over the next five years. In addition to joint Jewish-Arab biotechnology ventures, Ways will also foster entrepreneurship among new immigrants and outstanding teenagers in the field
In addition to Hadasit's investment, several million dollars have been pledged to Ways from social organizations. Ways will invest $500,000 in 12 projects each, which will be matched by the Office of the Chief Scientist.
Hadasit CEO Dr. Einat Zisman said, "Ways is a venture to foster life sciences and drug development companies through social activity from different sectors of the population.
Ways will help its portfolio companies become commercial companies based at the Jezreel Valley and lower Galilee. Ways was established by Yaron Bar-Ilan, who will serve as CEO, biotech entrepreneur Dr. Yaron Lev-Or, Prof. Yaron Ilan of Hadassah Medical Center, and Nazareth businesswoman Wafa Laham.
Published by Globes [online], Israel business news - www.globes-online.com - on August 8, 2011
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