In early February, ten Israeli healthtech startups visited Philadelphia. This trip was organized by the University City Science Center and Startup Nation Central (SNC), a nonprofit that helps Israeli startups thrive.
The founders took part in activities that highlighted resources available in Philadelphia. They aimed to learn more about the U.S. market, especially how to approach investors. Sandra Gomberg, a strategic advisor at the Science Center, mentioned that these events help spread the word about Philadelphia and boost the local economy.
“It’s about jobs and economic development for Philadelphia,” said Gomberg. “These startups might start small, but they will need to hire and establish themselves here.”
Over two days, the startups met with various investors interested in healthtech, including local firms like Robin Hood Ventures and Empactful Capital. Despite the ongoing conflict in Israel, Israeli startups have thrived, attracting over $3.1 billion in funding as of April 2024. Eden Eini from SNC stated that private funding could exceed $12 billion this year.
“Even amidst the challenges, Israel’s tech sector is becoming a powerhouse,” Eini noted.
On the other hand, Palestinian founders have faced difficulties. Many have had to leave their countries for safety, and the ongoing conflict continues to impact their businesses. The Science Center is open to partnerships but hasn’t established specific programs for Palestinian founders.
“Philadelphia is a global leader in nurturing ideas and talent,” said Kristen Fitch, senior marketing director at the Science Center.
The visiting startups attended workshops on engaging U.S. investors and understanding local business practices. Founders also had one-on-one meetings to seek guidance on entering the U.S. healthcare market.
Tal Shapsa Heiman, co-founder and CEO of Epilog, focused on finding long-term partners. She appreciated the welcoming nature of Philadelphia’s ecosystem and highlighted her previous experience with the Science Center.
“It’s a unique learning opportunity coming from a place that isn’t as collaborative,” Heiman said.
This visit was part of a broader tour featuring other cities like New York and Chicago, each offering distinct opportunities. Ending in Philadelphia allowed startups to receive tailored feedback from local investors.
“Philly’s research and healthcare scenes are why we chose to stop here,” Eini explained. It provided a chance to meet various stakeholders, from investors to academics.
The Science Center runs additional programs, such as the Capital Readiness Program, aimed at helping businesses prepare for fundraising. These partnerships attract quality companies and encourage local investment.
“We want to show that Philadelphia is open to innovation from around the world,” Gomberg added. They aim to connect founders to local chambers of commerce and other resources.
“We’re more than just education and medicine,” Gomberg emphasized. “We have a vibrant, welcoming environment for global innovation.”
Source link
Entrepreneurs,Funding,Startups
