Shalom Life | July 05, 2015

Israel-China Connection Strengthens, with Israeli Startups Competing in Shengjing Global Innovation Award

"The connection between China and Israel is a recipe for success"

By: B. Shane Morganstein

Published: July 3rd, 2015 in Business » World

Photo: Shengjing Global Innovation Award

Credit: Different Vibe, via ISRAEL21c


The connection between China and Israel seems to only be getting stronger, with the announcement that three Israeli startups will be travelling to Beijing this August to participate in the Shengjing Global Innovation Awards 2015. Wayerz, DiACardio, and SecuriThings will be competing for prizes worth $1.5 million, against countries from all over the world, including the USA, Europe, and China. The startups will also have the opportunity for investment from a special $25 million fund from founders of the competition Shengjing Group, and exposure to Chinese tech innovators like Alibaba and Xiaomi.

The Beijing competition is part of the larger Zhongguancun International Entrepreneur Festival.

The Global Innovation Awards, established by Chinese management consulting firm Shengjing Group, takes place in China, the USA, Europe, Latin America, and Israel. The finalists from each round of the competition are then invited to the finals, where they will compete for the grand prize and exposure among large venture capital firms. The Israeli leg of the competition was organized by venture capital firm JVP.

"The competition is part of a new strategic cooperation between JVP and Shengjing to promote investment in Israel startups and to promote Israeli startups in the Chinese market," said JVP Managing Partner Kobi Rozengarten. "Israel creates leading companies in technological development and innovation, and that is exactly what the Chinese are looking for. The Israeli finalists come from areas in which Israel is considered a world leader. I wish them much luck and am sure they will make us proud."

Approximately 180 startups entered the Israeli component of the competition, with nine making it to the semifinals and three eventually selected as winners: Wayerz, a platform that optimizes international bank wiring, DiACardio, a company specializing in echocardiography (ultrasounds of the heart), and SecuriThings, an IoT Security Platform which protects IoT manufacturers and platforms against illegal access to devices.

"In China, they are interested in investing a great deal of money and resources into the kind of innovation that Israel has been blessed with," explained Han Jun, Science and Technology Counselor of the Chinese Embassy to Israel.

"The Israeli market is of great interest to us," said Sherrie Wang, senior partner at Shengjing. "We have invested $50 million in Israel already and we are only beginning. The competition is very important for us because it connects us directly to the Israeli startup industry and brings the startups directly to China. Many Chinese investors joined in on the initiative after hearing that Israeli startups would be coming to China. Opportunities for these Israelis in China are enormous and we will open doors for them."

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