Featured Investment Platform: CimiComp
The China-Israel Medical Innovation Competition, or CimiComp, is a newly established investment platform led by Sino-Israel veterans Oren Rasooli and Roger Lu. Focused on the life sciences field, CimiComp brings together Israeli medical technologies, expert partners and specialized Chinese investors through periodic competitions. CimiComp’s first competition was held in October and the second one has already opened and will end in January 2018.
We first saw news about CimiComp a few weeks ago at the conclusion of the firm’s first competition. Among more than 70 qualified projects 18 were invited to present and defend their technology in front of potential investors, field experts and KOLs (key opinion leaders). The contestants had even more exposure via wechat where the presentations were broadcast live and open to a real-time Q&A. Oren Rasooli told us that the winner in October was MST Medical Surgery Technologies, whose CEO will be traveling to China this month to fully assess potential for all aspects of their project.
The January 2018 competition opened two weeks ago to eligible companies and over 100 projects have already applied. The applicant pool will be narrowed down to around 20 companies for presentation, and on 15 January, the 1st, 2nd and 3rd place winners will be announced and will receive part of a $2 million investment from Chinese investors.
CimiComp partners include CCTMIS (a Chinese non-profit under the Ministry of Health), the Nantong Government, Chinese investors, Meitar & Co, Deloitte and IATI. The firm operates out of Tel Aviv, Shanghai and Beijing.
Summary of information sourced from: CimiComp and interview with Oren Rasooli
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