Another Startup Contest Will Be Held in Tel Aviv as Part of the 2007 Israel

TEL AVIV, Israel--(BUSINESS WIRE)--April 10, 2007--Red Herring
announced today that it is sponsoring the Israeli Startup Contest 2007
in conjunction with the Israel Venture Association's (IVA) high-tech
conference, taking place June 10-11 in Tel Aviv. This marks the second
consecutive year that the internationally renowned American media
company will conduct an Israeli competition to evaluate and select the
top technology startups of 2007. Registration for the competition
opens this week and will be split into three tracks: Software &
Internet, Semiconductor & Communications. Three finalists per category
will be selected and profiled in Red Herring prior to the conference.
The overall winner in each category will be announced at the IVA
conference.

    Joel Dreyfuss, Editor-in-Chief at Red Herring, will direct the
competition. "Israel continues to be one of the world's centers of
innovation," says Dreyfuss. "We look forward to finding the technology
startups that will change the way we live, work, and communicate."

    Independent judges, including prominent Israeli entrepreneurs and
the International Editor of Red Herring, Jennifer Schenker, will score
companies based on vision, technological achievement and market
leadership. The competition is intended for early-stage startups in
2007 that are supported by venture funds associated with the IVA.

    The winning startups will receive their awards and present their
companies at IVA's annual high-tech conference, June 10-11 in Tel
Aviv, in front of investors, senior government officials, Ms.
Schenker, and Alex Vieux, CEO and Chairman of Red Herring. They will
also gain international exposure in Red Herring and the Israeli media,
and receive access to IDC research material.