Number of active technology companies that raised capital in prominent hubs FIGURE 14 Bay Area New York Israel London Boston Los Angeles Beijing Shanghai Paris Singapore Toronto Switzerland Sydney Berlin Denver Stockholm14,350 San Diego Seoul12,583 9,178 8,013 6,255 6,207 5,552 3,5473,352 2,569 2,480 2,470 1,833 1,821 1,7551,453 1,4171,162Around 500 active investment organizations 515 multinational companies Source: Israel Innovation Authority; CrunchBase; Israel Venture Capital (ICV) Research Center data. Beyond its collaborations with industry leaders like Merck and IBM, Israel also plays a significant role in shaping global regulatory standards. For instance, the Ministry of Health has partnered with many countries both bilaterally and multilaterally to facilitate ongoing dialogue on pertinent issues and policies, collaborate on essential projects and technologies, and promote harmonization of best regulatory practices. This includes collaborations with organizations leading global healthcare policies, such as the World Health Organization (WHO) and the OECD, in regulatory forums such as the International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use (ICH) and the International Medical Device Regulators Forum (IMDRF). This engagement also occurs in international collaborative projects such as Project Orbis (for oncology products). Future strategic approaches Israel’s leadership in bioconvergence is built on strategic investment, academic excellence and a vibrant start-up ecosystem – but continued progress depends on addressing several key national challenges. As bioconvergence spans diverse sectors (such as health, food technology, agriculture and sustainability), tailored integration strategies are required to meet varying regulatory, technical and market needs. The interdisciplinary nature of the field also necessitates a shared professional language to integrate expertise in biology, engineering and computation.Israel’s small size presents a unique infrastructure challenge. Unlike larger countries that can support massive physical R&D platforms, Israel must focus on shared national infrastructures and efficient resource allocation to remain globally competitive. At the same time, navigating regulatory complexity is essential – frameworks must evolve to support the fast pace of innovation while ensuring safety and public trust. To unlock the full potential of bioconvergence, Israel must continue to cultivate cross-sector collaboration, align its regulatory environment and attract diverse funding sources. The following steps can be applied to achieve this: –Establish mechanisms for serial venture creation: Transitioning from organic, entrepreneur-driven venture creation to a proactive “venture-studio” approach will systematically generate bioconvergence start-ups. International collaborations will be prioritized to enhance these mechanisms. –Expand multinational corporation (MNC) activity in Israel: Encouraging MNCs to participate in venture creation platforms – such as studios and incubators – and to establish bioconvergence R&D units targeting various applications and markets will bolster the ecosystem. These objectives aim to directly enhance the private sector by stimulating early-stage R&D and supporting growth efforts. This strategy mirrors the successful trajectory of Israel’s high-tech sector and represents a natural progression towards establishing a robust bioconvergence ecosystem. Israel’s leadership in bioconvergence is built on strategic investment, academic excellence and a vibrant start-up ecosystem. Pathways to Bioeconomy and Bioconvergence 28

Pathways to Bioeconomy and Bioconvergence Perspectives from Serbia and Israel 2025