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Finance minister promises support for industry-academia cooperation
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"In the coming decade, the Israeli government will invest resources in collaborations with academic institutions. We intend to inject government capital into high-tech companies that will cooperate with academic research institutes, in order to promote Israeli high tech," said Minister of Finance Yuval Steinitz at the Landmark Ventures Israel Dealmakers Summit in Tel Aviv today.
Steinitz also discussed the plan for encouraging institutional investors to invest in venture capital, and planned tax breaks for international financial institutions that set up R&D centers in Israel.
800 people, double the number of participants expected by the conference organizers, attended the conference, which aims to introduce entrepreneurs and managers to top US executives and investors. Chief Scientist Avi Hasson called on foreign investors and companies to contact his office, where they would discover "openness and flexibility toward their needs. "You undoubtedly have an idea about what we do, but I invite you to come to us and discover that we can help you do business in Israel. We have openness and good will to help you," he said.
Former New York State Governor George Pataki, Virgin Green Fund founding partner Shai Weiss, Pitango Venture Capital managing partner Nechemia (Chemi) Peres, and former Amdocs Ltd. (NYSE: DOX) president and CEO Dov Bahrav, were the panelists in the session "World Business Trends - Innovation in the Global Marketplace". Peres said that Israeli high-tech growth will depend on integrating different groups in Israeli society, including non-Jews and haredim (ultra-orthodox).
Baharav said that only the creation of huge Israeli companies would preserve Israel's high-tech position. "A decade ago, there were more large companies here. Some have vanished, like Mercury Interactive, and Comverse. I will focus on cleantech and encouraging innovation that can create large, strong Israeli companies."
Baharav added that communications was a revolution in which Israeli high tech could play an important role. "A year after the launch of the iPhone, the CEO of Nokia told me that he thought it was a gimmick. I don’t think that he sees things this way now. Communications is changing completely, the weight will switch from voice communications to data communications, and we can make a major contribution to this field." |
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