Erel Margalit, the Zionist Union MK and founder of venture capital fund Jerusalem Venture Partners, did not violate Knesset rules by continuing to engaging actively in his business after being elected, the Knesset Ethics Committee concluded on Tuesday.
- Israeli startups bring in $234 million in first 2 weeks of 2016
- Israel venture funds on track to raise $1.5 billion for 2015
The panel reached its conclusions after investigating accusations by the Movement for Quality Government and army radio. The committee concluded that Margalit did not sign documents connected with JVP’s investing in the startup AnyClip nor did he continue serving as a JVP director after being elected to the Knesset.
“I wasn’t surprised it was concluded decisively that I acted as required,” Margalit said in response. (Moti Bassok and Nati Tucker)
Startups in New York start recruitment drive
Israeli startup companies in New York are struggling to fill job openings and this week launched a campaign to lure applicants. The video drive includes 18 startup CEOs, including Taboola’s Adam Singolda and Vroom’s Allon Bloc, and sponsored by Israeli Mapped in New York, a website that tracks the local industry to help fill what they say are 450-500 openings among 108 Israeli startups in the city.
“The year 2015 was a good one for Israeli startups from the perspective of fundraising and as a result they need to recruit a lot of staff quickly, but they have real competition from the many startups in New York,” said Guy Franklin, who founded and operates the website. He concedes it will be a challenge: The job market in Israel is also tight while hiring Americans for the jobs requires them to mediate between Israeli and American cultures. (Inbal Orpaz)
BiolLineRX ,Merck to test cancer drugs
BioLineRX said on Tuesday it would collaborate with U.S. industry heavyweight Merck to test a combination of drugs for the treatment of pancreatic cancer.
Starting later this year, the companies will evaluate the safety and efficacy of combining BioLineRx’s BL-8040 0 has been shown to be effective at inducing direct tumor cell death while Merck’s antibody Keytruda works by increasing the ability of the body’s immune system to help detect and fight tumor cells. (Reuters)