Tech Nation

Intel seconds employees; IBM mentors startups; Smart Medical Systems gets $6.5 investment from U.S.-Chinese venture.

Courtesy of Intel Israel

Israeli Intel employees lent overseas
Scores of Intel Israel employees are reportedly being seconded to the company’s operations in Ireland and the United States for periods of several months. The workers headed for Ireland will be helping to build and launch a $4 billion semiconductor plant making next-generation 14-nanometer chips that the company opted to built there instead of in Israel. Intel declined to comment on the report, but the multinational company is known for moving employees to distant locations for training and knowledge sharing. Intel Israel’s Kiryat Gat plant often hosts employees from Ireland, China and the United States. While working abroad, the Intel Israel employees remain on the Israeli payroll. (Inbal Orpaz)

IBM offers mentoring program for startups
IBM Israel is in the preliminary process of selecting candidates for a support program for young Israeli startups. The program is being conducted in partnership with ZionTech Blue Initiatives, a venture owned by America serial investor Nathan Low. The program will provide 24 weeks of support for the startups, which will retain their rights to their innovations. Participants will get free access at no cost to IBM Israel’s Alpha Zone accelerator. IBM will provide office space, mentorship by business leaders with significant industry knowledge and exposure to investors. The application deadline is May 26. (TheMarker Staff)

Smart Medical Systems gets $6.5m initial investment from U.S.-Chinese venture
Domain Elite, a partnership focusing on the sale of medical products and technologies in China, announced Friday that it has made a $6.5 million initial investment in Smart Medical Systems, a Ra’anana-based company engaged in the development of gastrointestinal endoscopy products. Domain Elite − a partnership between Domain Associates, a U.S.-based venture capital firm that invests in life science technologies, and Elite Consulting, a company founded by six Chinese pharmaceutical and medical diagnostic industry executives − said the current investment in Smart is the first of a number of planned investments in the company with an eye to the greater Chinese market, including Hong Kong and Taiwan. A portion of the investment is to be directed to Smart’s subsidiary in Hong Kong. Smart also has a U.S. subsidiary. (TheMarker Staff)