The Embassy of the Republic of Korea in Israel aspires to promote business collaboration between Israeli and South Korean companies across various industries. In a collaborative effort of the Korean Embassy and the SMBA (via SBC), with the support of the Invest in Israel initiative and NewTech program of the Israeli Ministry of Economy, the partnership with Signals Intelligence Group was formed in order to create a Korea-Israel Hi-Tech Network to present all relevant companies in both geographic locations. This platform serves as a powerful visualization tool, establishing the groundwork for cooperation opportunities and potential business partnerships.
To create this binational Hi-Tech Network, Signals collected information on all relevant companies in South Korea and in Israel. The following industrial sectors are covered by this network:
Biomed: data collected through June 2013
Alternative Energy: due to be completed in Q3 2013
Each company was analyzed with respect to its technology and categorized based on its industry segment. Additional information was collected, ranging from contact information to company's maturity level and type of activity.
Company maturity was defined as follows:
Seed: A startup firm in its early days of product development, such as pre-clinical trials.
R&D: A company in the stage of uncovering new knowledge about products, processes, and services, and then applying that knowledge to fulfill market needs.
Initial Revenue: Annual revenue does not exceed $10 million dollars.
Revenue Growth: Annual revenue exceeds $10 million dollars.
Company Coverage was defined to be either local (has offices only in Korea/Israel) or international (has offices around the world).