New York City has become a thriving haven for Israeli technology, hosting 30 Israeli unicorns and 450 startups. One influential figure in this ecosystem is Eyal Bino, the Founding Partner of 97212 Ventures. With a strong track record in the Israeli tech industry, Bino previously co-founded ICONYC labs, an accelerator that facilitated the entry of pre-seed Israeli startups into the US market.
Recognizing the challenges Israeli startups face in securing venture capital funding, Bino saw an opportunity to bridge the gap between these innovative companies and the resources available in New York. Thus, 97212 Ventures was born, closing a 20-million dollar fund dedicated to investing in new Israeli pre-seed and seed startups.
The fund aims to provide startups with more than just capital. It grants instant access to a wealth of New York resources that can foster their growth, such as senior advisors, early customers, and channel partners. This support creates a pathway for Israeli startups to achieve product-market fit and early growth in the US market.
97212 Ventures focuses on B2B enterprise technologies, digital health and wellness, fintech, prop tech, logistics, and other sectors critical to digital transformation. Within the fund’s portfolio of 14 startups, notable companies include Remepy, a pioneering hybrid drug company, Beti, a platform for efficient construction supervision, and Ritual, a provider of digital tools for personalized therapy journeys.
Key to the success of 97212 Ventures is its backing from a collection of experienced investors, founders, and operators. Among them are Modi Rosen, Co-founder/Managing Partner of Magma Ventures, Owen Davis, Managing Partner of Contour Ventures, and Paul Martino, Managing Partner of Bullpen Capital. Their collective expertise and support enhance the fund’s ability to empower Israeli founders looking to expand their companies into New York and rapidly penetrate the US market.
97212 Ventures is becoming a go-to venture capital firm for Israeli startups seeking to establish their presence in New York City. By combining capital, guidance, and access to the NYC tech ecosystem, 97212 Ventures is positioning itself as a catalyst for Israeli entrepreneurs on their journey to building global tech companies in the heart of New York.
One current market trend in the tech industry is the growing interest in B2B enterprise technologies. Companies in this sector are developing innovative solutions to meet the needs of businesses, such as cloud-based software platforms, cybersecurity, and artificial intelligence tools. This trend presents opportunities for Israeli startups in the B2B enterprise technology space to attract investment and expand into international markets, including New York.
Forecasting the future, the demand for digital health and wellness solutions is expected to continue rising. With the COVID-19 pandemic highlighting the importance of digital healthcare, Israeli startups specializing in telemedicine, remote patient monitoring, and health analytics have the potential for significant growth. By focusing on digital health within their portfolio, 97212 Ventures is well-positioned to tap into this market and support Israeli startups in this sector.
One key challenge faced by Israeli startups entering the US market is competition. New York City is a highly competitive landscape with numerous startups vying for attention and resources. Startups need to differentiate themselves and demonstrate their unique value proposition to attract investors and customers. However, with the support and guidance provided by 97212 Ventures, Israeli startups can leverage their expertise and network connections to stand out in the crowded market.
Another challenge associated with expanding to New York is navigating the complex regulatory environment. Startups must adhere to local laws, regulations, and compliance requirements, which can vary across industries. This complexity can be overwhelming for founders unfamiliar with the New York market. 97212 Ventures can help startups overcome these challenges by connecting them with legal and regulatory experts who can provide guidance on navigating the local business landscape.
Advantages of partnering with 97212 Ventures include access to a network of experienced investors, founders, and operators. These connections can provide valuable mentorship, industry insights, and potential business partnerships for startups. Additionally, the access to senior advisors, early customers, and channel partners offered by 97212 Ventures gives startups a head start in establishing their presence in New York and gaining traction in the US market.
One disadvantage of relying on venture capital funding is the potential loss of control and ownership. Startups accepting investments from 97212 Ventures will have to share ownership and decision-making power with the venture capital firm. While this trade-off is common in the startup ecosystem, it’s important for founders to carefully consider the terms of the investment and ensure alignment with their long-term vision for the company.
In conclusion, 97212 Ventures is empowering Israeli startups to conquer New York City by providing them with not only capital but also access to resources and guidance necessary for their growth. With a focus on B2B enterprise technologies, digital health and wellness, fintech, prop tech, and logistics, 97212 Ventures is strategically positioned to support startups in sectors critical to the ongoing digital transformation. By leveraging their network of experienced investors and the vibrant New York tech ecosystem, 97212 Ventures is playing a pivotal role in helping Israeli startups establish a strong presence in the US market.
For more information on 97212 Ventures, visit their website: 97212 Ventures