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Opinion Articles
High-Tech & Technology -
DUN’S
100
|
2016/17
20
Opinion Article
I
n the third millennium, humankind is fac-
ing many challenges related to the aging of
the global population. The common Jewish
blessing, “may you live to be 120”, might soon
become a reality for a growing number of peo-
ple. However, in order to prevent the blessing of
longevity from becoming a curse, governments
and societies must find solutions for rapidly
emerging aging-related challenges in areas such
as medicine, retirement financing, food produc-
tion, and environmental protection, which could
threaten humankind if they are ignored.
Advances in modern medicine have led to
a dramatic increase in the human lifespan.
Although most babies born in 1900 did not
live past age 50, life expectancy at birth is at
least 81 years in several developed countries.
The number of people aged 65 or older is pro-
jected to grow from an estimated 524 million
in 2010 to nearly 1.5 billion in 2050, accom-
panied by a 1000% increase in the number
of centenarians.
A critical question is whether healthcare sys-
tems will be able to cover the increasing costs
of caring for the elderly. As the need grows
for medicines to treat chronic conditions and
expensive medical procedures, the economic
costs will become prohibitive. Developing in-
novative, disruptive medical technologies will
be critical if societies are to address the health
needs of the aging population as well as the
cost for their healthcare.
One such innovation is regenerative medi-
cine, which has become synonymous with the
medicine of the future. Rather than treating
the symptoms of chronic diseases, regenera-
tive medicine aims to help the body to cure
itself by healing and regenerating using its
own physiologic mechanisms. Many countries
already understand the importance of reduc-
ing treatment costs while improving patients’
quality of life. They promote and encourage
the regenerative medicine field through fast-
track approval pathways for regenerative
medicines, thereby reducing the development
costs of these treatments and accelerating
their commercialization.
The rapid approval of regenerative medicines
provides multiple advantages. First, it en-
ables companies to pursue the development
of medicines that could increase lifespan. It
also provides patients with faster access to
lifesaving medicines and reduces healthcare
costs. Enhanced regulatory pathways, which
attract companies to the field, already exist
in Japan, the world leader in longevity, and
in Europe. Soon, they may be created in the
U.S. as well.
Providing solutions for the challenges pre-
sented by global aging can be a significant
opportunity for the Israeli innovation and tech-
nology industry. Israel’s considerable intellec-
tual capital should be harnessed to innovate
in the healthcare field, as well as other fields
such as food-tech, agriculture and eco-tech.
IATI, the Israeli umbrella organization for the
high-tech and life-sciences industries, oper-
ates to promote these fields to enable the
Israeli economy to prosper in a competitive
global environment. IATI generates hundreds
of connections and opportunities for Israeli
entrepreneurs and companies, conducts
meetings with delegations and executives
from mega-corporations and public and gov-
ernmental entities, and supports the local
innovation and development eco-systems in
high-tech and life-tech.
Israel can and should become a global leader
in developing solutions for the challenges that
accompany the aging of our populations. Due
to the dramatic move led by the Finance Min-
ister Moshe Kachlon last summer, following
which the Economic Policies Law reduced tax
rates for medium and large high-tech compa-
nies, whether Israeli or Foreign, which already
operate in Israel or which plan to come be-
cause of the exemptions, provided that their
central R&D activity would be in Israel. The
Finance Ministry estimates that the transfer
of operations of foreign companies to Israel
would generate hundreds of millions of NIS
per annum and is also expected to result in
the hiring of more employees to positions
that would be less likely to be downsized in
light of the importance of these jobs to the
companies’ tax structure requirements. The
creation of a supportive environment for
advanced technology industries may propel
Israel to the forefront of global efforts to suc-
cessfully resolve the critical issues facing the
world’s populations– it’s not impossible, it is
happening right here, right now.
Israel can lead in the discovery of advanced
solutions for the challenges posed by aging
populations
By Yaky Yanay
Yaky Yanay, President and COO of Pluristem and Co-Chairman of the IATI