The INNONATION innovation and business platform, run by the Gal-Or family, has launched an innovation center in the city of Hangzhou in southern China. The government of Zhejiang province, where Hangzhou is located, invested $3 million in building the innovation center in the city. The center is located on two main floors in a 24-story office building in a complex built by Sunac, one of the largest construction companies in China.
INNONATION intends to establish, in cooperation with the Chinese government, additional Powerhouse centers in China with a total investment of more than $10 million. The new center joins two Powerhouse centers established in recent years in Beijing and Ramat Hachayal in Tel Aviv (with an investment of $4 million). The Powerhouse centers in Beijing and Tel Aviv have in recent years become the engine of leads and deals between companies and talents in China, Israel and North America. Thus, for example, the Powerhouse in Beijing is currently used as a basis for expanding the businesses of Israeli companies such as Tabula, Stratasys, IAI, El Al and more.
INNONATION, founded in 2016 by Amir Gal-Or together with his two sons (Raz and Amit), specializes in promoting international, cross-border collaborations between companies, governments, and talents in China, Israel and North America. In this context, Powerhouse centers help to develop an ecosystem of cooperation and transactions between the countries through a variety of unique services, including: office space that hosts companies and talents, market research to identify the potential of companies, an AI system that scans a global pool of companies and accurately matches potential partners, communications infrastructure for virtual meetings, conference halls, courses, tutorials and enrichment events, legal services, media services to promote entrepreneurs and companies in the media, and more.
Amit Gal-Or, Partner and Owner of INNONATION, said “Hangzhou is considered one of the fastest growing and important business and technology centers in China. Tens of thousands of technology companies operate in the city, led by Ali Baba with all its branches, car manufacturer Geely and a number of leading medical companies. Hangzhou is the Internet, AI and blockchain capital of China, and it also has a special status in the global automotive and medical industries. We are now opening a wide door for business collaborations between Israeli companies and talents and companies, investors and government officials in the city. Ali Baba of course has a unique specific weight and we will help as much as possible, with the help of the connections and knowledge we acquired during our 20 years of activity in China, to connect this huge company to Israeli entrepreneurs and businessmen."
Gal-Or added: “Hangzhou is currently one of the leading high-tech cities in China and there is great importance in a significant Israeli presence in it. The city and the provincial government are striving for cooperation with Israel and are willing to participate in funding the new Powerhouse for this purpose. Hangzhou is close to Shanghai (an hour by train) and the location is attractive in this respect as well." Gal-Or said that “China’s president, Xi, served as the province’s prime minister before he was appointed to his current position and to this day he delegates his spirit to the city and accompanies its development.”