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Innovation Out of Necessity: Incubating Solutions in...
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Innovation Out of Necessity: Incubating Solutions in Israel
Wednesday, April 29, 20094:00 p.m. - 5:15 p.m.
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Milken Institute Israel Center:Accelerating Innovations and SolutionsSince The Last Global Conference
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Milken Institute Israel Center:Accelerating Medical Innovations
“Tomorrow” – Israel’s President conference Financial Innovations Lab
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Less than a year after a Financial Innovations lab…
February 4, 2009
“…The idea gathered momentum with Michael
Milken's think tank that he set up for president
Shimon Peres, around Peres's 2008 Presidential
Conference. Milken's group included Ministry of
Finance officials.”
Israel’s Ministry of Finance announces $300 millionbiotech support fund.
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Milken Institute Israel Center:Accelerating Renewable Energy Adoption
Hezi Kugler,Director GeneralMinistry of National Infrastructures
Alumna Noa Yehezkel,Ministry of Finance
Major General Moshe Kaplinsky CEO, Better Place Israel
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Milken Institute Israel Center:River Revitalization Revolving Fund
SRFSRF
INVESTMENTS
CASH
CONTRIBUTEDCAPITAL
LOANS
November 6, 2008: Financial Innovations Lab, tour and seminar for the MOF
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Milken Institute Israel Center:Regional Water Management Financial Entity
November 5, 2008: Financial Innovations Lab
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Milken Institute Israel Center
Accelerating Financial Policy Reforms
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Milken Institute Israel Center
Leading Plenary Sessions at Israel’s largest business conference
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EconomicDevelopment andJob Creation forNorthern Israel
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Milken Institute Israel Center
Building a risk retention model for Northern Israel
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Milken Institute Israel Center:Private-Public Partnerships and Mission Related Investment
•Presented various tool for
Private-Public Partnerships.
•Identified relevant mission
related Investing tools
•Future work: localization for
urban areas (Jerusalem)
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Milken Institute Israel Center:Koret-Milken Institute Fellows
• More than 12 pieces of legislation
have been enacted (over 5% of
the total bills passed by the
Knesset)
• Research has been leveraged to
channel millions of dollars into the
Israeli economy
• The Fellows have gone on to great
success in the “Real world” Class of 2008-2009 at Milken House in Jerusalem
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Milken Institute Israel Center:Market Liquidity Business Finance
November 2008,
Financial Innovations Lab
at the
Tel Aviv Stock Exchange
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Milken Institute Israel Center:Affordable Housing
Fellow Merav Elgar opens
a key real-estate conference
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Milken Institute Israel CenterEducation Reforms
Policy Brief examines innovations
for both higher and elementary
education, including:
• Human capital contracts
• Voucher systems
• Charter schools
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Isabel Maxwell
Director and ChairSocial EntrepreneurFellowship ProgramIsrael Venture Network
www.israelventurenetwork.org
Contact:[email protected]
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IVN’s Mission
Investing in Entrepreneurship, Israel Venture Network (IVN)strives to promote social change in Israel by strengtheningeducation and the economy in the geographic and socialperiphery.
Established in 2002, IVN is a network of business executives, corporations &philanthropists in Israel & the US, sharing the values of venture philanthropy.
IVN's main advantage lies in its ability to identify needs, initiate/incubate vehiclesof change and bring them to a sustainable and scalable level:
•Entrepreneurships initiated by IVN
•Entrepreneurships incubated by IVN
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Change through Entrepreneurship
Entrepreneurships initiated by IVN
IsraCorps The program works to strengthen Israeli society throughinstilling volunteerism as a tool for empowerment and as agreenhouse for nurturing the next generation of social leaders.
The Institute for School Leadership (ISL) A nationalprogram for school principals, training them as the primarychange agents. The program combines active learning withdirect mentorship of the principals in their schools.
IVN’s Economic Reconstruction Initiative (IERI) The programstimulates business growth in Israel's periphery, through a scalablemodel of coaching/mentoring and lending for small and medium-size
businesses, combined with strengthening regional businessconsultants and MATI's.
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Entrepreneurships incubated by IVN
Social EntrepreneurshipProgram supports and incubatesSocial Entrepreneurs dedicated todeveloping and implementinginnovative and sustainablesocial/economic solutions, growingand expanding the projects andbringing them to a sustainablelevel.
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Ron H. Maron, Ph.D.,BIRD Foundation
Delivering Healthcare Solutions through StrategicAlliances - the Role of Foundations.
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Israel Innovation Force …“Israel is noted for its entrepreneurial spirit”…
Source: World intellectual property organization.
Medical Technology Family, by Region, 2001-2005
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….“Israel's entrepreneurship quickly transforms start-upcompanies into profitable and competitive companies. This isevident by the fact that Israel has the largest number ofNASDAQ listed companies outside the United States….
Apart from Silicon Valley, the highest concentration of high-tech companies in the world is found in Israel, with 4,000businesses.”
Source: Ministry of Foreign Affairs of Denmark.
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Israel Innovation Force …“Israel is noted for its entrepreneurial spirit”…
BIRD Foundation Mission is“To stimulate, promote andsupport joint industrial R&Dof mutual benefit to Israeland the United States.”
Source: Yadin Rubin, Untitled (4), 2006, oil on canvas, 90X110 cm Chelouche Gallery, IL.
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Source: 1The End of Medicine by Andy Kessler, 2006.
Health IT is critical in the process of bringing the expertise from theDoctors’ brains into technology enabling in the very long run
reduction of Health Care costs.
Medicine is a service business.One on One. Doctors hold theexpertise. It's embedded in theirbrains.1"
"There's a huge differencebetween medicine and the realworld. Almost every other industryis about R&D creating productsthat are consumed by payingcustomers.
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The convergence of Physics and Technology with Medicine brought
for the last several decades monumental development of Medicine.
The current internet grid, spreading globally, is a major enabler.
Medicine is on the verge of joining many other
industries and become more of an
“information industry.”
Healthcare and Information Technology
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Many of the physician decisions are information dependent:
Current lab test results compared with previous ones,
Which treatment was given in the past to the patient?
The genomic constituents of the patient and his family members.
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•Patient to Caregiver:
Wearable sensors of all kinds
Cardiac
Glucose
Cognition
Compliance reporting devices
•Caregiver to Patient:
Medical records
Laboratory and other tests results
Health information
Two Way Communication as Aging In Place Enables Transformation
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The BIRD Foundation, is currently funding
collaboration between an Israeli startup and a major
US Medical Center in the deployment of an operating
room decision support center.
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Prof. Yitzhak Peterburg
Senior Visiting Fellow, Milken Institute
Former CEO, Clalit Health Services
Former CEO, Cellcom
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Israel, an Emerging Powerhouse for Life Sciences
• Life-Sciences represents about 35% of Israel civilian research activities in its 7 universities
and 4 medical schools
• Israel has one of the world’s highest per capita ratios of scientists in life sciences, one out
of every three Israeli scientists specialized in life sciences
• Israel ranks as a top country for scientific publications per capita, almost 60% of its
publications are in Life Sciences
9.4 11
14.6 14.916.3 17.8
27.531.2
3840.2
Ireland Taiwan Russia Japan US Germany UK Finland Sweden Israel
R&D Expenditure (GDP Basis)
4.6 %Israel
3.5 %Europe
3.0 %Japan
Number of Scientific articles per $1B GDP
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Israel’s Life Science Industry: 1997-2007 A Decade of Growth
Number of Companies Founded (898)
0
100
200
300
400
500
600
700
800
900
1000
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
From 275 companies in 1997 to almost
900 companies in 2007
An average of 65 new companies being
formed per year over the last decade
Almost half of all Life Science companies
operating in Israel today are less than 6
years old , 80% in the last decade
Source: ILSI Data Base – 2008.
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Life Science Industry: Fast Growing IndustryYoung, Creative and Innovative Industry
Sectors Companies’ Developmental Stage
Source: ILSI Data Base – 2008.
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Medical Device Patents per million Capita
0
20
40
60
80
100
120
United S
tatesJapan
Germany
United K
ingdom
Canada
FranceIsra
el
Sweden
Taiwan
Nu
mb
er
of
Pa
ten
ts p
er
Ca
pita
Source: www.uspto.gov. Analysis: ILSI ©:
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Number of BioPharma Patents per million Capita
0
20
40
60
80
100
120
140
160
180
USA
Japa
nG
erm
any
UK
Fran
ceCan
ada
Sw
itzer
land
Italy
Net
herla
ndDen
mar
kSwed
en
Isra
elBel
gium
Aus
tral
ia
Nu
m.
of
Pa
ten
ts p
er
millio
n C
ap
ita
Source: www.uspto.gov. Analysis: ILSI©.
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Life Science Patents % of Total Patents Registered
0
5
10
15
20
25
30
35
Uni
ted
Sta
tes
Japa
nG
erm
any
Uni
ted
Kin
gdom
Fra
nce
Can
ada
Sw
itzer
land
Isra
elSw
eden
Italy
Net
herlan
dSou
th K
orea
Belg
ium
Tai
wan
% L
ife
Scie
nce
Pa
ten
ts f
rom
th
e T
ot
Average
17.9%
28.3%
World average of approval in ~ 18%; in Israel ~ 28%
Source: www.uspto.gov. Analysis: ILSI ©.
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Israeli Originated BioPharma Molecules
CompanyName
Drug Disease No. ofpatientsUS
MarketSize
Phase Sales
Johnson &Johnson/Schering
Doxil Cancer
Kaposi'sSarcoma/Ovarian
Market $533M
Serono Rebif MS 0.2million
$3B Market $1000M
Gonal F Infertility 1 million Market $500M
Teva Capoxon MultipleSclerosis
0.2million
$3B Market $1700M
Aventis Exelon Alzheimer's 4 million $3.0B Market $400M
Total $4.13Billion
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Health IT
State of the Industry
• EHR: 100% coverage
• HIE: more than 50%
• Extensive use of clinicalindicators
• Telemedicine solutions
140 companies
• EHR/PHR solutions
• HIE
• Research infrastructure
• Production floor
• Monitoring
• Telemedicine
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Dorit InbarHead of The New Israeli Foundation for Cinema andTelevision;VP for the Israeli Broadcasting Authority
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• About 14-18 full length feature films a year
• About 400 hours of T.V fiction drama a year
• About 120 hours of documentaries a year
• About 10 hours of animation a year
• Over 300 new Israeli commercials are being produced every year
Volume of Israeli Local Production
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Co- Production
• About 3-5 co-productions of feature films a year (fiction) mainly
with Europe, Canada & Australia.
• About 5-10 co-productions of documentaries a year
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More details…
• About 14-18 full length feature films a year
• 8 full length feature films sold abroad a year
• About 200 new feature films are imported to Israel a year
• Total number of admissions in 2007-2008 was about 9.7 million in
each year. Out of which 14% were for local features.
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Foreign Competition
• 200 international festivals
• Over 100 international awards
• Nomination to the Oscar Award in 2008-2009
• Tens of T.V. channels around the world
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Governmental budget for the cinema
industry is around $18 million per year
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• Heavy regulations concerning local productions
• 8 major broadcasting organizations:
• Cable Television
• Satellite Television
• Channel 2
• Channel 10
• Channel 9 – The Israeli-Russian Channel
• Channel 24 – the Israeli Music Channel
• Public Television
• Educational Television
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Israel’s Official Film Co-Production Agreements
The Government of Israel has signed co-production treaties with the
following countries:
Belgium France Germany Italy
Sweden Poland Canada Australia
Hungary
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Tax Incentive Rules
• To this end, the law offers generous tax benefits that reduce the cost
of production by up to 20%
• A Co-Produced film between an Israeli production company and a
foreign production company is entitled to tax benefits of an actual
reduction of 15% in the costs of the production in Israel
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Other Advantages
• Professional and talented personnel
• Facilities
– About 120 independent production companies
– About 10 production studios
– About 30 post production studios/ facilities
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Budgets
The average budgets of a production in U.S. Dollars:
• The average budget of a feature film is about $500,000-$1,000,000
• T.V. fiction (drama) production has an average budget of $130,000 per hour
• T.V. series average budget is about $100,000 per hour
• Documentaries average budget is $150,000 per hour