1.     Initial contact
When approached by a start-up or, when we proactively approach one such company, we make an initial group decision regarding its viability, and then we decide whether to invite the company for an introductory meeting.

2.     Introductory Meeting
Following this meeting, we again convene internally to determine whether to continue the process.

3.     Study
If we decide to continue, we will dedicate ourselves to the project. We will invite you to meet our advisors (Bezeq and others) and to provide us with substantial additional material on your company and your targeted markets in order to study your plan.

4.     Term sheet
After the study process, we will decide whether to pursue the deal, and provide you with a term-sheet that summarizes our terms for making an investment.

5.     Deep Study
Following the signing of the term-sheet, the process continues for several additional weeks, in which time we complete our investigations, researching your company with regard to any issue that, in our opinion, is crucial to its success.

6.     Investment Committee Approval
After completing those investigations to our satisfaction, we bring the investment to the approval of our Investment Committee.

7.     Office of the Chief Scientist (OCS) Approval
At this point, we apply (together with the company) for an approval of the project by the OCS. This phase involves submission of forms and an investigation by a project evaluator appointed by the OCS. When the evaluator's report is ready, the project is brought in front of an OCS committee, which needs to approve the project. This phase typically requires 6 weeks.

8.     Signing of Definitive Agreements
When the OCS approval is granted, the company and Lab-One can sign a Definitive Investment Agreement (negotiations on which may begin prior to the OCS approval).