Six months after establishing an ecosystem to ecosystem collaboration, the new IP² LaunchPad program bears fruit with a Taiwanese-Israeli smart wheelchair joint venture...
Israeli startup ReSymmetry, which develops a smart wheelchair, and Taiwanese MedTech manufacturer Karma Medical Devices, a developer of assistive devices, announced a new partnership and an initial $2 million investment.
Thanks to the Taiwan-Israel tech ecosystem partnership
The newly created partnership will focus its first phase efforts in the development and joint production of a smart seating system for motorized wheelchairs and rehabilitative chairs for children, followed by the foundation of a joint venture in Taiwan in the second phase.
ReSymmetry develops a smart robotic wheelchair (Healy) that leverages AI to significantly reduce the risk of secondary medical conditions and discomfort, resulting from prolonged motionless sitting. As part of the agreement, the companies will collaborate on the development and production of a smart robotic seating system that autonomously customizes the seating position for each user. The system will be integrated into several rehabilitation products, allowing people with disabilities the possibility to stay mobile while maintaining a healthy posture when seated.
The joint venture will be based on the knowledge and technology of ReSymmetry, with CEO and co-founder Efrat Shenhud-Malihi noting that the collaboration with Karma will provide the Israeli startup with further access to penetrate new global markets.
"This agreement is just one example of the capability of Taiwan, a world leader in hardware, to provide Israeli startups with the opportunity to infiltrate global markets. Taiwan is a Scale-Up Nation, and in recent decades it has established its global operations, among them sales channels and a business network, that can help startups grow fast," said Rani Shifron CEO of Israeli consulting firm Healthier Globe, i2i representative, and manager of IP² LaunchPad’s activity in Israel.
The agreement, signed between the companies in Taiwan, was a direct result of the IP² LaunchPad program launched in Israel in June this year, which has defined an objective to accelerate the entry of Israeli companies into east Asian markets, and specifically Taiwan's advanced ecosystem.
As part of the program's activities, Advantech's CEO, Mr. Chaney Ho, one of the partners in the program, recognized the potential of combining forces between Karma and ReSymmetry, and encouraged the relationship between the two companies. According to Ho, “a smart rehabilitative chair based on the IoT technology of ReSymmetry, which supports rehabilitation by simply changing the sitting position, is innovative and unique. However, the high development and production costs provide a challenge in terms of market expansion. The partnership between the two enterprises is therefore complementary and meaningful for both."
ReSymmetry was founded in 2016 by CEO Efrat Shenhod-Malihi, R&D advisor Daniel Shahaf, scientific advisor Dr. Iris Shichor. The company is based in Tel Aviv.