It’s not “business as usual,” it’s business unusual.
As COVID-19 continues to make its impact around the world, so, too, has it affected Trendlines, our staffs, and our portfolio companies.
We are very pleased to note that – to date – none of our staff members or their families in Israel, China, and Singapore has taken ill.
Our employees in China and Singapore felt the effects of coronavirus restrictions weeks earlier than our Israel-based staff. We stopped all international travel for the Company on 9 March. One week later, we implemented our contingency plans for our Israel-based employees to work from home. We shuttered our offices in Israel while our Singapore offices are operating under stringent rules that prohibit guests from visiting and all staff situated at least two meters apart from one another.
Our IT infrastructure has proven itself up to supporting our staff and portfolio companies’ moves to frequent video contact meetings – and access to our servers. Fortunately, as a result of our regular IT needs’ review earlier this year, we increased our bandwidth substantially; this now serves us well with Israel’s countrywide mandate to work from home. Additionally, we are reviewing portfolio company budgets and funding needs to make adjustments as circumstances require. For some of our smaller suppliers, we are advancing funds to help them through these difficult times.
Above all else, we are stressing to our staffs and portfolio companies the importance of following the guidelines to stay healthy.
One interesting aspect of not traveling is the time it allows for more thoughtful discourse. We are looking to make the best of this situation, and we are searching for opportunities, discussing problems and solutions, and, of course, reviewing government grants that are now being made available, with an eye toward inventing and developing new, robust healthcare technologies.
Our commitment to supporting our portfolio companies and building our business – and value for shareholders – is unabated as we carefully monitor and adapt to this global healthcare crisis. Beyond that, we remain committed to maintaining focus on our mission: creating and developing companies to improve the human condition.
From our homes in Israel, Singapore, and China to your homes around the globe, we wish you all the best. Stay healthy.