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Israel Partners with IFC to Promote Innovation in Emerging Markets


IFC (in Washington, DC):
Elizabeth Price
Phone: +1 (202) 458-0387
E-mail: EPrice@ifc.org

Washington, DC, January 13, 2016—IFC, a member of the World Bank Group, and Israel are partnering to support IFC’s “TechEmerge” program connecting companies with proven technology solutions with clients based in emerging markets. The inaugural phase of the TechEmerge program will focus on matching health technology innovators from around the world with leading Indian healthcare providers, with the objective to improve access to quality healthcare in India.

The Israeli Ministry of Economy and Industry and IFC on Wednesday participated in a signing ceremony marking Israel’s support for the new program during the 2nd Foreign Trade Conference of Israel. Over 800 exporters and companies attended this conference focused on business opportunities in emerging markets. In the following weeks, the Ministry of Economy and Industry will hold a joint seminar with the IFC aimed at briefing health technology companies on the program's business opportunities and next steps.

TechEmerge will identify top health technology innovators and match their services with interested healthcare providers in India. Successful participants in the program will receive funding and guidance from the TechEmerge team, to scale new technology in the Indian market. Indian healthcare providers will gain access to a global network of health technology innovators, while innovators will gain the opportunity to develop new business relationships.  Around a dozen leading private sector healthcare providers in India have signed up to participate in TechEmerge.

Today, IFC launched an open call for health technology innovators globally to apply for the program. Companies can submit their applications online at www.techemerge.org until March 6th, 2016. Innovators will be selected through a competitive process.

“Our life sciences industry is ranked first globally for the number of medical device patents per capita, and Israel, being well-positioned in the life science realm, could take an active and meaningful role in the TechEmerge program. I firmly believe that this fact coupled with other proven strengths of the Israeli life science industry, will allow for it to significantly engage in the program. This is our first agreement with IFC, and we see it as a milestone in our collaboration with the various international financial institutions. We look forward to a long and fruitful partnership with IFC,” said Amit Lang, Director General of the Israeli Ministry of Economy.

“Developing countries are struggling to expand access to quality health services and to cope with increased demand associated with communicable diseases as well as aging populations and the rising prevalence of chronic diseases“, said Alzbeta Klein, IFC Director, Global Manufacturing, Agribusiness and Services. “Israel and other partners in the TechEmerge program will help emerging market health systems adopt innovative technologies that can drive greater access to health services.”

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it’s needed most. In FY15, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org

About State of Israel, Ministry of Economy and Industry
The Israeli Ministry of Economy and Industry oversees commerce, industry, and labor in Israel. The Ministry seeks to increase economic growth in Israel by fostering technological innovation and entrepreneurship, developing human capital, and promoting international trade.

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State of Israel (in Washington, DC):
Hila Cohen Mizrav
Phone: +1 (202) 364-5697
E-mail: hila.mizrav@israeltrade.gov.il