Haifa mulls setting up biotech incubator

Haifa Economic Corp. is considering establishing an incubator for life sciences entrepreneurs.

Haifa Economic Corp. is considering setting up an incubator for life sciences entrepreneurs. The company has begun seeking international partners with the know-how and experience in life sciences and hopes to find a partner involved in activities worth more than $5 billion.

The company recently published a call for proposals for companies and organizations interested in such an endeavor. The Haifa Economic Corp. also plans bidding for the biomed incubator tended due to be published by the Chief Scientist of the Ministry of Industry, Trade and Labor. Only when a partner has been selected, will conditions for participating in the tender be agreed including financing for graduate companies.

The incubator, if it is established, would be located in the Life Science Park, which is being built near the MATAM High-Tech park, at the southern entrance to Haifa.

Haifa Economic Corp. already operates the Hi-Center incubator which operates industrial ventures. The city already has leading-edge life sciences activities mainly in medical devices. Both the Technion, Israel Institute of Technology, and Haifa University have departments of medicine and biology and the city has Rambam Hospital and other leading medical centers and is home to the Israeli R&D activities of two global giants Philips Healthcare and GE Healthcare.

In the past, the Haifa Economic Corp. has estimated that it will invest $1.5 billion in the Life Science Park over five years.

Published by Globes [online], Israel business news - www.globes-online.com - on December 20, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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