22000
MEYTAV - TECHNOLOGICAL ENTERPRISES INITIATION CENTER
POB 408, KIRYAT SHMONA 11013, ISRAEL;
TEL: 972-4-6818800; FAX: 972-4-6818806;
E-MAIL: meytav@meytavti.co.il
-----------------------------------------------------------------
MANAGER
Mr. Zvi Rubinstein
ORGANIZATION
MEYTAV Technological Enterprises Innovation Center Ltd. was
founded by the Municipality of Kiryat Shmona and the Regional
Council of Upper Galilee.
During July 2003, MEYTAV was one of a select group of incubators
that were privatized by investors from the private sector. Some
of Israel's leading Life science investors, including major VC
funds (Pitango, Giza), Hadassah Hospital's commercialization arm
and Teva Pharmaceuticals - a world leader in generic
pharmaceuticals have together acquired 24% of the incubator.
Other shareholders include private investor groups and entities
representing the municipality of Kiryat Shmona and the Galilee
Region.
In June 2005, the group of shareholders was broadened to include
Biomedix Ltd. (TASE: BIOMEDIX), which made a US $3 Million
investment in Meytav. Biomedix is partly owned by Pontifax, a
Life Sciences fund chaired by Mr. Eli Hurvitz of Teva
Pharmaceuticals.
The Board of Directors, which represents the owners of the
incubator (private and institutional), is supported by several
Steering Committees, consisting of a group of scientists,
industrialists, investors and economists, which perform an
initial screening of the potential projects prior to the approval
by the Office of the Chief Scientist.
The management team of MEYTAV brings with it many years of
"hands-on" experience in all phases of technology
commercialization, from screening via evaluation and fundraising
to structuring of partnerships, collaborations and financial
transactions.
MEYTAV encourages and supports projects based on technological
innovation. Each project is structured as a legally independent
company (Ltd.) owned by the entrepreneurs, business partners that
provide supplementary financing, and the holding company of the
incubator.
MEYTAV provides each project with laboratory and office space,
office services and professional support for a period of up to
two years (life science projects in the field of biotechnology
have an option of extending the period to three years).
In the course of this period, projects are expected to add
significant value to their assets and operation - strengthen
their IP estates, forge collaborations focusing on R&D, clinical
development, manufacturing and other topics. In parallel,
projects should devote significant effort to finding additional
investors (financial and strategic), who will provide the
necessary funds for future commercialization, growth, and access
to the world market.
FINANCING
Each project is separately financed by the Chief Scientist of the
Ministry of Industry and Trade, the private owners of the
incubator and direct co-investments by different business
partners in each project. The operation of the incubator itself
(management team and other overhead expenses) is financed by the
owners of the incubator. However, due to MEYTAV's location in the
north of Israel - it is granted "Preferred" status, thus
enhancing even further the financial benefits which it is
entitled to: the Chief Scientist of the Ministry of Industry and
Trade participates in the incubator overhead as well, and the
2-year budget per company is significantly higher.
SUPPORT
MEYTAV is closely connected to and professionally supported by
MIGAL, an institute for applied research in agriculture and
biotechnology (more than 20 Ph.D. researchers, laboratories, and
research teams), by the Tel Hai Community College, and by
enterprises in various technological fields in the Upper Galilee
region.
POLICY
MEYTAV will deal with any field in which there is a relative
advantage that arises from its team and capabilities in the field
as well as the available technological support and unique
financial advantages (value adding private ownership, preferred
status due to location). The focus will be on biotechnology
projects as well as on sophisticated technological products in
various fields.
COOPERATION REQUIRED
MEYTAV will welcome cooperating entities for the following
purposes:
1. Leading professionals in technology management to contribute
and share the success of the projects
2. Financial and strategic investors in the holding company
and/or the projects
3. R&D collaborators to advance the development of the projects
4. Business connections for potential projects - for marketing
and distribution of products developed
5. Enhancing and improving the "deal-flow" of entrepreneurs and
projects.