none

INNOVATION HIGH ON THE AGENDA DURING PYNE VISIT TO ISRAEL

15-12-2015
by 
in 

Bolstering Australia’s innovation sector was one of the key topics on the table when Minister for Industry, Innovation and Science Christopher Pyne met with Israel’s Prime Minister, Mr Benjamin Netanyahu, in Jerusalem this week.

Mr Pyne said the meeting was timely, given the very recent release of the Government’s National Innovation and Science Agenda.

The new Agenda includes a $36 million global innovation fund to create strategic links with key economies around the world.

A highlight of the fund are five “landing pads” for start-up entrepreneurs, one of which will be located in Tel Aviv.

“Israel has one of the highest concentrations of innovation and entrepreneurship in the world,” Mr Pyne said. 

Mr Pyne hoped the talks with Prime Minister Netanyahu would help the Government “build a reinvigorated Australian economy based on innovation”.

Australia has many similarities with Israel, including its educated workforce and small population, he said.

“But when it comes to start-ups and commercialising research, we are failing to keep up.”

Mr Pyne said Australia values its educational and research ties with Israel.

“Israel has a remarkable rate of success in commercialising innovation and turning bright ideas into viable commercial outcomes,” he said.

During the visit Mr Pyne also met with representatives from world-leading Hebrew University and Israel’s number one venture capital firm, Jerusalem Venture Partners.

The transformation in Israel into a start-up innovative nation was a shining example to the rest of the world, he said.

“As Australia seeks to build a new economy based on innovation, ties with technologically advanced nations like Israel have never been more important,” Mr Pyne said.”

Mr Pyne said the Hebrew University of Jerusalem was renowned for its world-leading research and already had a strong relationship with Australia.

“Israel has one of the highest concentrations of innovation and entrepreneurship in the world – and it owes much of its success to institutions like the Hebrew University of Jerusalem,” Mr Pyne said.

“It’s Israel’s number one ranked university and an institution with a global reputation for outstanding research.”

The Jerusalem Venture Partners (JVP) is Israel’s top ranked venture capital firm with over $900 million under management.

Mr Pyne said the meeting provided an opportunity to discuss venture capital funding, cultivating flourishing technology hubs and building large scale venture funds.

“The Israeli venture capital sector (VC) has significantly more funds available, compared to Australia,” Mr Pyne said. 

“Given the Government’s renewed focus on innovation, and the very recent release of our Innovation and Science Agenda, it’s been an opportune time to visit and learn from a nation that has enjoyed so much success in the innovation space.”

Related news & editorials

  1. 27.10.2021
    27.10.2021
    by      In
    ‘Buy Australian Now’, the latest campaign from Australian Made is urging all Aussies to support local jobs and economic recovery by backing our local makers and growers as the country begins to open up and prepare for the festive season.
    According to Australian Made Chief Executive, Ben Lazzaro,... Read More
  2. 26.10.2021
    26.10.2021
    by      In
    Work, health and safety are fundamental to our lives and are, more than ever, a central focus for organisations.
    The Hunter region in NSW is well-known for leading the way in industry, this in turn has led to the region becoming champions of WHS.
    The Hunter Safety Award were born out of desire to... Read More
  3. 19.10.2021
    19.10.2021
    by      In
    There is no doubt that the recent AUKUS agreement between Australia, USA and the UK was a surprise to just about everyone on the planet!
    Taking a closer look into the government’s decision to commit to the AUKUS alliance, much of what has been reported by mainstream media has been inaccurate or... Read More
  4. 18.10.2021
    18.10.2021
    by      In
    Australian Resources and Energy Group AMMA welcomes today’s intervention of the Australian Government seeking to put an end to three months of damaging strikes at Fremantle Port.
    It has been reported the Australian Government has stepped in, utilising its powers under the Fair Work Act to seek an... Read More
Products
Suppliers