MISGAV, Israel, September 17, 2015 /PRNewswire/ --
Trendlines Medical, wholly owned by The Trendlines Group, won the Israeli-government competitive process for the Akko region, the Government of Israel has announced. Awarded by Israel's Office of the Chief Scientist (OCS) of the Ministry of Economy, the franchise allows Trendlines Medical to continue to operate a government-franchised incubator, as it has done for the past eight years. The Trendlines Medical incubator is located in the Misgav region of Israel's Western Galilee, classified as a peripheral area by the Government.
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Among other things, the OCS selection committee based its decision on Trendlines Medical's track record and ongoing commitment to incubating, investing in, and supporting early-stage medical device companies. Trendlines' unique business model supports entrepreneurs with intense involvement in all aspects of business building. The model is focused on taking companies from ideation to commercialization in a relatively short period of time. Over the past five years, Trendlines Medical and its portfolio companies have received numerous awards of excellence from the Chief Scientist, a testimony to the success of the Trendlines model.
In his comments on the win, Trendlines Medical CEO Eran Feldhay, M.D., said, "We are thrilled with the announcement from the OCS and appreciate their continuing support in establishing and developing medical device companies. We look forward to growing our business in Israel and expanding into Singapore and China." Trendlines Medical's skilled, experienced team of professionals assists each company with technology and business development, marketing communications, finance and administrative support, and access to a global network of investors and strategic partners.
Todd Dollinger, co-chairman and CEO of The Trendlines Group and Chairman of Trendlines Medical, adds, "We are extremely pleased and proud of Trendlines Medical's victory, which affirms the trust of the Chief Scientist in what we do. Through our two government-franchised incubators, both in Israel's periphery, Trendlines contributes to creating an ecosystem of entrepreneurship and innovation. Trendlines has established and supported 60 life science companies and raised substantial sums for investment from investors in Israel and abroad. We are now expanding our efforts to create more companies to improve the human condition."
Under the terms of Trendlines' new eight-year license, each new company will receive an increased investment of approximately $770,000.
Other companies granted franchises to operate incubators in the healthcare arena under the OCS incubator program include Medtronic, Teva, Johnson & Johnson, Takeda, and IBM.
The Trendlines Group (http://www.trendlines.com) is an innovation commercialization company that discovers, invests in, and incubates innovation-based medical and agricultural technologies to fulfill its mission to improve the human condition. As intensely hands-on investors, Trendlines is involved in all aspects of its portfolio companies from technology development to business building.
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SOURCE The Trendlines Group