Philips-Teva and Strauss win tech incubator tenders

The Philips-Teva incubator will focus on pharmaceuticals and medical devices, and the Strauss incubator on food-related technology.

Two new technology incubator franchisees have been chosen by the Office of the Chief Scientist at the Ministry of Economy. In the third round of the competitive technology incubator franchisee selection process, the Philips and Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) joint initiative was chosen to operate the incubator in the tender, and Strauss Group Ltd. (TASE:STRS) was chosen to lead a food-technology incubator in the Ashkelon area.

The Philips-Teva incubator, Inspire Healthcare Innovations, Ltd., will focus on investing in projects in the fields of pharmaceuticals and medical devices, with an emphasis on incorporating digital platforms in both these areas. 

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