(Photo: Jaafar Ashtiyeh/AFP)
By Ethan Freedman - October 12, 2022
NGT, a venture capital firm based in the northern city of Nazareth, is looking to find a niche in a relatively under-resourced and untapped area of the Israeli medical field: the Arab community.
The company’s newest fund, HealthCare II Impact Fund, specializes in medtech and biotech ventures and received a capital infusion of $92 million this year to fund Arab-Israeli entrepreneurs in the lucrative Israeli medical industry.
The Arab Israeli community has experienced a spurt in the medical field over the past two decades. In 2000, Arab Israelis constituted just 11.2% of all new physicians; by 2020, that number ballooned to nearly half, according to data from the Central Bureau of Statistics and the Ministry of Health.
In order to tap into this wellspring of talent, NGT, which focuses on early-stage, breakthrough technologies coming out of academic and medical institutions, was created to capitalize on this.
“It’s really part of our impact factor, this is what we’re focused on — integrating the Arab society into the ecosystem of the startup nation,” Tamar Kedar Harris, Director of Investor Relations at NGT, told The Times of Israel.
Read More: Times of Israel