March, 13th, 2016. Beijing, China. Jerusalem, Israel – Leading Chinese SME Accelerator and Fund of Funds Platform Shengjing, along with top Israeli venture capital firm JVP are launching the 2nd annual “2016 Global Innovation Awards,” a global startup competition.
For Israeli startups, the competition presents an extraordinary opportunity to compete against innovative companies from around the world, gain significant exposure in global markets, liaise with leading industry partners, raise capital from leading growth-market-focused investors, win prizes totaling $1.5 million (no strings attached – without giving up any equity) and receive potential investment from a special $25 million fund established by shengjing360 particularly for the competition.
The international competition is being held simultaneously in China, Israel, the U.S. and Europe, with the finals set to take place in Beijing in August, 2016. Twenty companies will advance to the Beijing finals. Israeli startups will compete against ten representatives from China, six from the US and two from Europe.
The Israeli segment of the competition will be led by JVP along with its competition partners: Microsoft Ventures, EMC, Poalim Hi-Tech, EY Israel, Herzog Fox & Neeman (HFN), Nautilus by AOL and PR Newswire. Together, they will review the Israeli startups and choose those moving ahead in the competition.
Competition & Schedule: Startup submissions will be accepted until mid-May, 2016. All eligible startups will be reviewed by JVP and its competition partners. In June, 2016, following a criteria-based selection process, 8-10 startups will be chosen to move on to the semifinals. Three finalists will then be chosen to represent Israel in the Beijing finals, in August, 2016.
The competition is open to startups in the following fields: Storage, Big Data, Security, Enterprise Software, Fintech, Wearable Technologies, Digital Health, Sports Technology, Medical Devices, Web Applications, Computer Vision, Internet of Things (Iot), Robotics, and Artificial Intelligence.
Eligible startups must meet the following criteria:
• Unique, innovative technology in the above-mentioned domains
• A clear market need for the technology
• A competitive advantage in the given field
• A professional team with experience in the field
• An ability to develop a beta prototype within a 12 month period
• Existing investments in the company of no more than $2 million
Last year, over 180 Israeli startups entered the Israel Stage of the 2015 Global Innovation Awards. Nine startups, out of the 180 ventures from across the Israeli hi-tech spectrum, reached the semi-finals.
Three Israeli startups – DiaCardio, Wayerz, and Securithings – were chosen to represent Israel in the Beijing finals last August. The Israeli finalists competed against 21 startups from the U.S, Europe and China. Israeli startup DiaCardio took first place at the 2015 Global Innovation Awards finals. Together, the Israeli finalists received over $2 million in prizes and investments, as well as significant exposure in global markets and business development with leading industry players.
“Winning the first prize of GIA 2015 was an amazing experience and was a great opportunity to introduce our technology to top new global markets, including the Chinese market, meet key investors, gain additional exposure, resulting in significant strategic interest and continue to build a successful company,” said Hila Goldman-Aslan, DiaCardio Co-Founder & CEO.
“We congratulate our Israeli partners, including many of the leaders of the Israeli hi-tech industry,” said Sherrie Wang, Senior Partner at Shengjing, “Israel is a global hub and model for an innovation driven culture. The goal of the competition is to identify the most promising, innovative startups globally, to open doors and support them, and to help them become groundbreaking, market-leading companies. The Israeli startups in last year’s competition gained unrivaled achievements. We are confident they will continue to represent the Israeli ecosystem with great honor.”
“Israel creates leaders in technological development and innovation, and that is exactly what the Chinese are looking for,” said JVP Partner, Yoav Tzruya. “This is a unique opportunity for companies to achieve a significant breakthrough in global growth markets including China, and to liaise with industry leaders. We are happy to team up again with our partners from last year, as well as with new partners, to capitalize on last year’s achievements and continue and push the Israeli eco-system forward. ”
Startup submissions will be accepted until May 15th, 2016.
To Enter the Competition: www.jvpvc-gia.com