“Bizmax was founded to encourage support and employment in entrepreneurship among the ultra-Orthodox community. Over the last three cycles that have taken place in Jerusalem, we’ve provided support to 21 startup companies from different fields that have raised over $10 million.
Five years ago, when we started these programs, our only goal was to support ultra-Orthodox-led startups, no matter the field or what the market demanded.
But now we have decided to do things differently. We conducted extensive research to check the areas where startups exist and where they don’t – above all else to see where we’ll be able to add significant value. Before COVID-19 even began, we found that the medical field was growing. Now, that growth has greatly expanded. We realized that this is the arena – medical equipment and digital healthcare.
In order to be an entrepreneur in the high-tech industry, you have to operate in an expansive ecosystem. You can’t lead a startup while confined within the walls of the ultra-Orthodox society. To succeed, you have to work with other sectors and societies.
So we looked for a partner, and we found the Wolfson Medical Center. With a great deal of goodwill, and minimal red-tape, we were on our way. The BizLabs MedTech program was established. We identified seven startups in advanced stages which were led by ultra-Orthodox entrepreneurs. The teams and products will receive intensive assistance over the next six months, with guided tours and meetings with relevant experts, investor forums, access to hospital labs, and more.
A few weeks ago, we held a special event for the program launch – with only 20 participants because of COVID-19 restrictions. Only the principal partners were invited. Out of twenty, five were MAOZ Network members. We had Motti Eichler, Founder and Chairman of the Achim Global Foundation, which supports the program; Arik Adler, Treasurer of the Bnei Brak Municipality; Shai-Lee Spigelman, Director-General of the Ministry of Science and Technology; Roy Cohen, CEO of the Haredi Institute for Public Affairs, and myself. The fact that we’re all MAOZ Network members who know each other made the whole process much easier, and strengthened the work we did together. Communication is different when it’s