Israel Start Up – Illinois learns from Israel

June 15, 2011 at 11:29 am | Posted in ICT, Investment, Israel, Life sciences, Medical Devices, Pharmaceuticals, R&D, Renewable energy, software, Start-ups, Telecommunication, Trade, Water | Leave a comment
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The Academy for Entrepreneurial Leadership traveled to Israel in March 2011 to experience and document Israel’s amazing start-up community. They met with various start-up companies, incubator programs, and venture capitalists to discover what makes Israel, an incredibly tiny country, so successful when it comes to new venture creation. they hope to apply what we have learned to inspire and enhance the start-up community in Illinois. This documentary feature was premiered at the Start-up Illinois Dinner on May 19th, 2011: Open link.

Thanks  to my colleague, Mr. Yariv Becher, Israel’s Trade Attache to the Mid-West, based in Chicago, USA, for sharing this link with me.


Israel Offers Incentives to Launch Financial R&D Centres

August 31, 2010 at 7:24 am | Posted in export, Investment, Israel, Start-ups | Leave a comment
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In order to encourage large financial services companies and international banks to set up financial R&D centers in Israel, the Ministry of Finance and the Ministry of Industry, Trade, and Labor have established a special incentives program.

The government will provide 40% of the plan’s total budget approved by the Office of the Chief Scientist in the first and second years, 30% in the third and fourth years, and 25% in the fifth year. Projects set up in Israel’s North and South will be eligible for higher government funding of 50% in the first and second years, 40% in the third and fourth years, and 35% in the fifth year.

The plan is part of the Relative Advantages Plan that will be managed by the Chief Scientist Office and aims to boost the development of an information-intensive financial services industry in Israel.

“This plan is designed to meet the world’s need for sophisticated analytical solutions that support the financial industry. Israel has quality manpower with advanced technological infrastructures and good quality higher education,” Ministry of Industry, Trade, and Labor director general Sharon Kedmi said.

To qualify, participating international financial companies have to commit to working in Israel for five years and employ at least 25 R&D employees in the first year, 50 employees in the second year, and 80 employees in the third and subsequent years. The companies also need to ensure that at least 90% of the employees at the financial R&D centers to be set up will be Israeli citizens.

Israel’s Investment Promotion Centre

PWC Shows Sharp Rise in Israeli Start-Up Investment

August 11, 2010 at 9:20 am | Posted in ICT, Israel, Life sciences, Medical Devices, Pharmaceuticals, Start-ups | Leave a comment
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Kesselman and Kesselman PricewaterhouseCoopers in a recent report shows investments in Israeli start-ups rose 21% from the first quarter to $206 million in the second quarter of 2010, and 27% from the corresponding quarter of 2009.

For the first half of 2010, total investments in Israeli start-ups amounted to $376 million, slightly above the $356 million invested in start-ups in the first half of 2009.

The upward trend was led by the medical devices and biotech sectors, while investments in Internet start-ups bounced back to the levels of recent years after low levels of investment in the first quarter of 2010. The data reflects the highest level of investment since 2004 in the life science section, which combines medical devices and biotechnology.

Israel’s Investments Promotion Centre

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