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Press Release

S.C.-Israel R&D Award Announced

SCRA
Posted on: 30 Aug 16

SCRA and the Israeli Innovation Authority, on behalf of the Office of the Chief Scientist (OCS) in the Israeli Ministry of Economy, today announced the recipient for the fourth research and development award. The bilateral projects are a result of the collaborative industrial research and development program established in October 2013 between the State of South Carolina and the Government of the State of Israel. The first two projects were awarded in September of 2014; the third project was awarded in October 2015.

The current project will develop a fully-automated echocardiogram (echo) examination and reporting system. The South Carolina partner is VidiStar, LLC, located in Greenville, S.C. and the Israeli partner is DiaCardio, Ltd., located in Beer Sheva, Israel.

In the last decade, the number of echo examinations (ultrasound of the heart) has increased, thus making the Cardiology Imaging sector grow significantly. The echo examination has become the gold standard examination in most heart related illnesses. Across the U.S. and in most of the world, the echo exam is the basic procedure that takes place with any suspicion of heart problems. But the growing need for echocardiograms puts pressure on hospitals and private clinics to increase cardiology resources.

This project will develop an innovative system that will solve the growing market need for an automated, precise and objective tool that will handle most aspects of the echo examination. The echo exam includes the detection of different heart elements, measuring the most important values (ejection fraction, strain, and wall motion evaluation) and presenting them automatically in a unique report. Automating this process allows the cardiologist or doctor to obtain all needed data in a glimpse, and invest his/her efforts and time in the actual patient care and diagnosis rather than in the technical aspects of performing the examination.

“VidiStar is excited to receive this award,” commented Craig A. Walker, MHA, CEO and Founder of VidiStar, LLC. “This funding will enable VidiStar and DiaCardio, Ltd. to integrate our two, innovative technologies for the automation of certain “key” echocardiography measurements, such as the ejection fraction, a vital indicator of the heart’s condition. As an SC Launch portfolio company, we are honored to take part in this bilateral, international R&D initiative, and appreciate SCRA facilitating this competitive opportunity.”

"We are delighted to announce the continuation of these joint R&D projects," said SCRA Executive Director Bob Quinn. "This collaboration furthers innovative research and collaboration, helping advance South Carolina's Innovation Economy and commercialize life-saving technologies. We congratulate SC Launch company VidiStar on this award and look forward to positive outcomes from their partnership with DiaCardio."

"The ongoing Israel - South Carolina partnership has showed once again its successful R&D ties. The strong collaboration proves the advanced innovation links between the industries of both states as we are looking forward to the next funding round. I am certain that our ongoing partnership with SCRA will create further cooperation and establish strong economic ties and innovative solutions" said Chief Scientist Avi Hasson.

The South Carolina - Israel Industrial R&D Program seeks to stimulate generation and development of new or significantly improved products or processes for commercialization in global markets. The technology sectors that are the focus for this program are: Biomedical and Life Sciences; Advanced Materials; Sustainable Energy/Water/Agriculture Systems; Transportation; Defense and Homeland Security and Insurance and Health Information Technology. The program is being managed by SCRA on behalf of the state of South Carolina, and by the Israeli Innovation Authority on behalf of the state of Israel.

The program has an open “call for proposals” in which teams from South Carolina and Israel may submit funding applications at any time. The next round of program applications will be accepted through March 1, 2017.

About SCRA

Chartered in 1983 by the state of South Carolina, SCRA fosters South Carolina's innovation economy. SCRA improves the development and growth of South Carolina's innovation ecosystem by supporting entrepreneurs, facilitating university research commercialization and connecting industry to innovators.

About the Office of the Chief Scientist

The Office of the Chief Scientist [OCS] in the Ministry of Economy is charged with execution of government policy for support of industrial R&D. The goal of the OCS is to assist in the development of technology in Israel as a means of fostering economic growth, encouraging technological innovation and entrepreneurship, leveraging Israel's scientific potential, enhancing the knowledge base of industry in Israel, stimulating high value-added R&D and encouraging R&D collaboration both nationally and internationally. A variety of ongoing support programs developed and offered by the OCS play a major role in enabling Israel to be a key center for high tech entrepreneurship. For more information, visit the OCS website.

About the Israeli Innovation Authority

The Israel Innovation Authority is Israel's central agency to manage the country’s governmental support of the resources for innovation. As the government’s operational arm in the arena of technological innovation and R&D, the goal of the Authority is to provide professional support and infrastructure to government efforts to encourage innovation in all industry sectors, complementing the major role that Israel already plays in the global high-tech sector.

About VidiStar

VidiStar, LLC is based in Greenville, SC (USA) and has developed a web-based diagnostic viewer and patented structured reporting solution (US Pat. No. 8,200,505) for medical imaging and clinical decision support. VidiStar's technology allows physicians and health care providers the ability to read and interpret diagnostic studies over local area networks and wide area networks for timely interpretation, distribution, and improved patient diagnosis. VidiStar is a 2012 and 2013 Innovision Award Winner and a SC Launch Portfolio Company.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160830005791/en/

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Last updated on: 30/08/2016

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