6 For starters, Israel has a high-quality public healthcare system, - with the nation’s medical records stored in a centralized database, and the country is blessed with cutting-edge inventors, scientists and academics, strong research and development, a tight-knit entrepreneurial community, and government support – all of which help the life sciences sector. "The Israeli life science business ecosystem, I believe, is uniquely positioned to stay relevant from many perspectives,” explains Greenberg Traurig New York shareholder, Adam Snukal. These include the facts that “Israel has been and continues to be a leader in the field of AI, which is powering most digital and smart medical technologies; the Israeli healthcare system has been at the forefront of telehealth for many years, creating a culture of both consumers and developers who are very attuned to this field of healthcare; the Israeli universities continue to produce thought leaders, scientists, researchers and the like who are aggressively pushing the innovation envelope across large portions of the industry; Israel has a track record of consistently returning value to those who have invested in its life science ecosystem. So, if an investor is faced with a choice between investing in an environment that has fostered very few successful exits vs. Israel (especially in a delicate investment market), Israel stands a good chance at securing those investment dollars; and The Abraham Accords and other countries in the MENA region which previously never had access to Israeli technology, now do. Many of these countries are investing billions in modernizing their health care systems, and between the innovation and geographic convenience that Israel offers, I believe that the local life science community can/will play a key role in the process.” This sector is often divided into four major subsectors – medical devices, digital health, biotechnology, and pharmaceutical therapeutics. According to data, the industry is still heavily skewed towardmedical device and digital health companies, followed by biotech and pharmaceutical companies. Globally, StartUpHealth trackedUSD9.3 billion in health innovation funding in Q1 2022, putting it even with 2021’s record-breaking pace. After years “Israeli life science business ecosystem is uniquely positioned” So where is the funding headed?
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