World is searching for technology and knowledge – and Israel has it on offer
Investment promotion center at Industry, Trade and Labor Ministry connects international investors with Israeli companies or entrepreneurs starting a new venture.
The race for Israeli know-how: Many large global companies are looking for innovation, a partner in whom they can invest and with whom they can cooperate. Israel is one of the global centers that attract large companies and investors, and Invest in Israel is the agency that makes these connections.
Among other factors, thanks to the agency’s work, Israel reached $11 billion in international direct investments in 2011. Last week, on the backdrop of Operation Pillar of Defense and hundreds of missiles on Israel’s south, Swiss bank Pictet, one of the top private banks in the world, announced it was expanding its activities in Israel. This decision displays Israel’s investment potential, even during such times.
The investment promotion center at the Ministry of Industry Trade and Labor, led by Oded Distel, is the government agency responsible for attracting new international investors and providing them with support. The agency locates potential investors, facilitates their visits to Israel and provides them with assistance and direction in any way needed.
The staff of the center works closely with the Ministry’s economic attaches in order to identify international companies that are looking for a specific technology, an investment opportunity or a place to open an R&D center. At the same time, Invest in Israel identifies what Israel can offer to the world, and in this way, international investors are approached. This is how many doors are opened for Israeli industry.
Quite a bit of work is done in order to present Israeli innovation to the world. “We brand the State of Israel in a business sense as an origin of innovation and an investment destination,” says Distel in an interview with Ynet.
Distel described the process of bringing an international investor to Israel and marketing Israeli industry around the world.
“The process is long and demands a lot of concentration and daring from the international investor. As opposed to selling a product, investments demand higher levels of risk and dedication. We deal with some people who have never been to Israel and have outdated and irrelevant ideas about Israel.”
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