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12 Companies Compete in the IVA Start-up Competition Final

Business Wire, May 5, 2008

TEL AVIV, Israel -- The IVA Start-Up Competition 2008 is being held in cooperation with Globes, DEMO and Red Herring. Each finalist will be allocated 6 minutes to present their company and product. The winner will receive automatic entry as a finalist to the prestigious DEMO Germany competition.

The Israel Venture Association (IVA) has announced the names of the 12 finalists in the IVA Start-up Competition 2008. The competition, which is held in cooperation with Globes, DEMO (the leading company in the world for start-up competitions), and Red Herring (one of the leading hi-tech magazines in the world), will be held on May 19-20, at the Avenue Convention Center, at Airport City, Israel.

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The companies in the competition were divided into 4 categories by field and life cycle:

The Finalists:

Early Stage: ID-U Biometrics, Modu, Delver.

Life Sciences: Pet Novations, Diagnostic Technologies, Enzymotec.

Communications: Red Bend Software, BroadLight, Techtium

Software and Internet: WeFi, Gizmoz, WorkLight

The Finalists will be allocated 6 minutes to present their company and its most interesting product. The competition final will take place during the two days of the annual IVA Hi-Tech Conference.

In the framework of the competition, each finalist will demo its product on the first evening of the Conference. The overall winner will be announced on the second conference evening. The winner will be selected by a panel of experts and by SMS voting of the hi-tech community in Israel. The public votes and those of the experts will be of equal weight. The competition winner will automatically enter the DEMO Germany competition as a finalist, and will also win a profile article in Red Herring magazine and in the Israeli press. In the event that the winner is selected from the Life Science category (a field which does not exist in the Demo Germany competition), the winner will be awarded a cash prize of $2,500 U.S. dollars.

"The response to the competition on the part of the Israeli hi-tech companies was very enthusiastic," says Yifat Adoram, President of IVA. "In contrast to the format of previous years, this year's competition will constitute a great challenge for the finalists who will have only 6 minutes to impress the judges as well as the general audience. One of the goals of the Israeli Ventures Association is to promote the hi-tech field in Israel. Partnerships with leading bodies in the world, even in the format of the present competition, will add great value to the participating companies," Adoram emphasized that each year there is a significant presence of Israeli companies at DEMO competitions. Bringing DEMO to Israel will make the participation in the competition much simpler and more accessible.

The annual IVA Hi-Tech conference will be held on May 19-20 at the Avenue Convention Center at Airport City. This is the largest conference held by the hi-tech and venture capital industries in Israel and provides a wide platform for exposure and for forging business ties. This year, as in every year, venture capitalists investors, private investors, entrepreneurs, representatives of international companies, investment banks, technological greenhouses, leading law and accounting firms and representatives from the United States and Europe will participate in the conference. Additional details and IVA enrollment forms can be found at the site: www.iva.co.il.

About IVA

The Israeli Venture Association (IVA) was established in 1996 and serves as the representative of the Israeli venture capital and private equity industries. The goals of the IVA are to promote and encourage venture capital activity in Israel, while providing information, forging international ties and producing publications for the benefit of investors and entrepreneurs in the Israeli economy. Over 100 Israeli venture capital funds, investment companies, holding companies, investment banks, service providers, accounting firms and legal firms are members of the IVA. More details can be found on our website: www.iva.co.il.

Business Services Industry

12 Companies Compete in the IVA Start-up Competition Final

Business Wire, May 5, 2008

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