Innovation = Invention + Commercialization

An honorable guest from ROC (Taiwan) has visited MultiReach in Israel last month. He is the Chairman of a big Chinese bank and it was his first visit to Israel. Our purpose was to expose the chairman to Israeli innovation. It was the Jewish holiday season in Israel, therefore, traffic was an issue, so we used Waze (A social GPS application for mobile phones developed by the Israeli start-up) to find the fastest way around. While we were driving him around Israel, a discussion rose up in the car regarding the definition of Innovation. We’ve all agreed that it is not enough to have a bright idea; you should also know how to commercialize it so it would be considered as true Innovation.

While there are many Israeli companies with bright Inventions, the solution/company mentioned above differentiated itself as a good example of bright invention made in Israel alongside with commercialization in China.

Source: iTunes

Waze, the smart crowd-source traffic information application, which also takes part in Apple Maps project, has picked up $30 million in a Series C round of funding as it looks to capitalize on a burgeoning international opportunity, particularly in China.

The Israeli company’s latest funding been led by Horizon Ventures, which is managing the funds of Hong Kong’s Li Ka Shing, considered among the most powerful and richest men in Asia.

The company, leverages data from users who have downloaded the app to help construct a very accurate and real-time picture of traffic conditions. And it’s increasingly letting users report news events.

For Waze, Asia is huge challenge/opportunity and no country is bigger or perhaps more complicated than China, where consumers are snapping up cars but the infrastructure isn’t keeping pace. That’s why the investment by Li Ka Shing is the key to Waze’s big planned push into the middle kingdom.

It’s important to note that to this day Li Ka Shing invested in few Israeli start-ups: Magisto; Waze; Onavo; Everything.me; Wibbitz, Preen.me. Founders like Noam Bardin, CEO of Waze think that Li Ka Shing can be instrumental in helping establish the necessary partnerships that are required to enter a heavily regulated market likeChina. In interviews for local newspapers, he said the payoff could be huge because there isn’t a dominant mapping player in China and the market is ripe for the solution that Waze offers.

What do you think about the suggested formula: “Innovation= Invention + Commercialization” ? Are you familiar with other examples? Leave us a comment.

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Developed in Israel, Assembled in China & Taiwan

 

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תערוכת Mobile World Congress 2012 שהתקיימה בשבוע שעבר בברצלונה היא ללא ספק האירוע הגדול של השנה בתחום המובייל. כיון שהתערוכה זכתה לסיקור תקשורתי נרחב, לא נלאה אתכם כאן בפרטים. למרות זאת, חשוב לציין שלישראל הייתה נוכחות מרשימה בתערוכה: כ- 140 חברות ישראליות הציגו בתערוכה (כ-10% מכלל החברות המציגות בה), מתוכן 100 במסגרת הדוכן של מכון הייצוא ו-40 נוספות שיציגו באופן עצמאי . ואולם, מי שבאמת גנבו את ההצגה השנה באופן לא מפתיע, היו ענקיות התקשורת הסיניות . אם לפני כעשור דיברו על תחרות בין Nokia לEricsson, הרי שהשנה נדמה היה שתערוכת המובייל עומדת בסימן מפגני ראווה של זי.טי.אי (ZTE) וחואה וויי(Huawei). הנה לכם הצצה…

Developed in Israel, Assembled in China & Taiwan

Start-up Iway Mobile and Cellcom, Israel’s largest mobile phone operator, launched on Sunday (Jan. 23rd, 2011) a communications, Internet and entertainment system for the automobile.

While the Comodo Console will be sold first in February in Israel, where it will be marketed exclusively by Cellcom, Iway is in talks to sell the product to cellular operators in other countries over the next six months.

The design and development of the console was done in Israel, while the assemblage is carried out in China and Taiwan.

Read the full article on Ynetnews: http://www.ynetnews.com/articles/0,7340,L-4018618,00.html