Carmel is an economic corporation set up and owned by Haifa University to commercialize research and technology. It serves as a bridge between researchers and industry, manages intellectual property and collaborates with companies, other research institutions, hospitals and government agencies. Most importantly, according to Nir, Carmel's Innovation Fund serves as a bridge funder during the crucial phase when promising research does not yet have a robust enough business case to attract private venture capital funding. Carmel funds this transitional phase and then profits when the companies receive VC funding and are finally launched.
Since Carmel is owned by Haifa University, the proceeds ultimately flow back to the university, thereby creating a virtuous circle.
The speaker proceeded to show some examples of cutting edge research conducted and technologies developed in Haifa for marine exploration,
cancer treatment, memory enhancement and drought resistant crops, among many others.
