Israeli News Now: Israeli Science Benefits From Venture Philanthropy

Israeli News Now: Israeli Science Benefits From Venture Philanthropy

February 2011

Money is the lifeblood of science research and the competition for funding is fierce. Scientists are going outside the standard avenues of funding in favor of partnering with venture philanthropists groups.

Most recently, the non-profit United States-Israel Science Technology Foundation entered into a partnership with the Israel Venture Network. The collaboration seems like a match made in heaven. The foundation promotes business collaborations between the United States and Israel, specifically in scientific and technology projects. The network promotes social change and environmental protection in Israel.

Recently, the foundation published the Israel 2028: Vision and Strategy. The publication outlined recommendations and addressed societal and economic issues for Israel. Issues include environmental sustainability and growth, using Israel’s extensive science and technology strengths and advancing the country’s economic and competitive growth through labor policy and education.

The ultimate goal is to be a part of the World Economic Forum Index and become one of the top 20 competitive countries in the world.

Both the foundation and the IVN are committed to working together in making the goal a reality, but still remain separate entities and maintain autonomy.

IVN is no stranger to venture philanthropy and has been backing projects that advance Israel since 2002. It is primarily made up of high-tech entrepreneurs, executives, venture capitalists, corporations and philanthropists from both Israel and the United States.

Former 3Com corporation chairman, Eric Benhamou, will advise in the direction of the collaborative for IVN to foster innovations and breakthroughs that will impact both the United States and Israel.

“In the era of globalization, the strongest driver of scientific discoveries and high-tech R&D is multi-national collaboration between knowledge-based industries,” said Eric Benhamou. “USISTF and IVN have an impressive track record of strengthening the U.S. and Israel economic relationship and I am confident that through close collaboration we will be a catalyst for growing multi-national economic collaboration.”