IRE Newsletter_0909doc - GNSFGE

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IRE Newsletter_0909doc - GNSFGE ...

    Issue of 09/ 09/2008 What's on the Network

    Galilee Regional Innovation Strategy available

    The Regional Innovation Strategy of Galilee Region, Israel, has been finalized.

    The Galilee Regional innovation Strategy called GAL-EDGE (Galilee Economic Diversification and Growth of Enterprises) is a tangible

    result of a project started in the beginning of 2006 as an initiative of the "Galilee Development Authority", the "MIGAL Galilee Technology Centre" and "MATI Centre for Promotion Entrepreneurship" in an EU project RIS, along with partners from Germany (Steinbeis Europa

    Zentrum and Anhalt University) and Estonia (IBS) and aimed at developing a Plan for Innovation and Entrepreneurship in Easter Galilee.

The action program, agreed under GAL-EDGE, aims to:

    - build the infrastructure and ideas in Eastern-Galilee regarding the need for introducing innovation in all sectors and entities, as well as holistic approach to the economic development and R&D enhancement in the Galilee;

    - providing supports for the traditional industry in the Galilee in implementing innovation in their factories for economic development; - facilitating collaborative partnerships and networking activities with Europe and USA;

    - initiating focused development of high level Academic Research Centre in the Eastern Galilee;

    - establishing means and ways to involve women more in economic development activities.

The GAL-EDGE group developed several platforms for regional economic development:

    - The Centre for Implementing Innovation in Industry in the Eastern Galilee CIII

    - The Galilee Innovation Fund GIF

    - Empower women in Eastern Galilee

The most important development is the gathering of all municipalities in Eastern-Galilee to work together on common issues. For the

    development of the Academic Research Centre and the School of Medicine in the region the 13 municipalities clearly assigned a management group with the ability to move the project further and find other partners. Initiating cooperation and technology transfer with EU are already under way. Financing Innovation and Pre-Seed Fund has been developed and is in action. Initiating structured cooperation among companies and the developing of Inter-disciplinary clusters is also being developed, in cooperation with the Ministry of Industry,

    Trade and Employment. The Galilee Development Authority with the Presidents of the Galilee Colleges are examining ways to implement

    the idea of the Eastern-Galilee Academic-Industrial Students' Centre". A proposal to support the CIII Centre (Centre for Implementing

    Innovation in Industry) is currently being discussed with investors.

    >>Read More

Further Information

    Contact: Uri MARCHAIM Back to top The changing nature of the early stage venture capital market in the UK

    The Nesta research shows that public sector funds have taken over from private investors as a principal source of finance for


    The UK early-stage venture capital market is currently experiencing major changes. With private funds once the bedrock of start-up investment for entrepreneurs moving away from the early stage, it is not just entrepreneurs but the economy as a whole that will be


    The shift comes at a time when there is real pressure for the UK to build great global companies to match those of the US, India and

China as well as a harsher environment in which to start a new business. But as long as investors continue drifting away from the smaller

    deals that new firms depend upon, many businesses will struggle to get a foothold.

    The report by the National Endowment for Science, Technology and the Arts (Nesta) ‘Shifting sands: The changing nature of the early-stage venture capital market in the UK’ highlights the growing dependence by entrepreneurs in the UK on public sources of finance and reveals what is hidden behind the published data relating to the early-stage venture capital market in the UK since 2000. The report also >>Read More considers how successful government interventions have been in increasing the availability of early-stage venture capital.

    Further Information

    Contact: Yannis PIERRAKIS Back to top IRE Electronic Newsletter