Civilian R&D Spending Up in 2010

September 20, 2011 at 5:25 pm | Posted in Investment, Israel, R&D | Leave a comment
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Israel’s total spending on civilian research and development totaled 35.8 billion shekels (about $10 billion) in 2010 and made up 4.4% of the gross domestic product. The country’s spending on civilian R&D rose by 1.2% in 2010, following a 3.4% drop in 2009 when the global financial crisis weighed on investments. R&D had increased 3.8% in 2008.

Israel’s investment Promotion Centre

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Hebrew University Professor Wins World’s Most Prestigious Math Prize

August 31, 2010 at 7:29 am | Posted in Israel | Leave a comment
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Professor Elon Lindenstrauss from the Hebrew University of Jerusalem’s Einstein Institute of Mathematics was awarded the prestigious Fields Medal for 2010.

The Fields medal, also referred to as the “mathematics’ Nobel Prize,” is the world’s most important math prize and is awarded once every four years to researchers aged 40 years or under who demonstrate significant mathematical achievements and show great potential for the future.

Professor Lindenstrauss was awarded the prize for work that uses probabilistic and dynamic systems for solving problems in number theory.

A Jerusalem resident, Lindenstrauss is a graduate of the Air Force’s elite Talpiot program and has been awarded several prestigious prizes both in Israel and abroad. After receiving his doctorate in mathematics from the Hebrew University, he became a member of Princeton’s Institute of Advanced Study and in 2008 received a professorship at the Hebrew University.

Israel’s Investment Promotion Centre

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

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