"We're heading for a crisis and everyone is partying," Rad Bynet Group CEO Yehuda Zisapel told the "Forbes" conference marking Israel's 60th anniversary yesterday. "In the past, we drove out textiles, and now it's the turn of high-tech. The government must intervene to prevent a crisis." He made the comment at the conference panel on "Israeli opportunities in the world of technology".
Minister of Science, Culture and Sport Raleb Majadele told the panel on "Brain drain" that R&D in Israel was waning. "The lack of investment in R&D has resulted a brain drain of 20,000 people in recent years," he said.
Commenting on the brain drain, Zisapel said that the educational system adhered to a mistaken concept that higher budgets meant better education. "There is money for the administrators and the supervisors, but the students get nothing," he said.
Sheba Medical Center at Tel Hashomer's Advanced Technology Center director Prof. Arie Orenstein said that a fifth of the foreign faculty at the top 40 US universities were Israelis.
Published by Globes [online], Israel business news - www.globes-online.com - on April 15, 2008
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