Governor of Delaware Jack Markell and a delegation of Delaware entrepreneurs and business leaders are visiting Israel on a week-long economic development mission that includes meetings with local economic and government leaders, as well as with Israeli high tech and biotech companies. The aim of the trip is to further raise Israeli business interest in the state. Markell is the only Jewish sitting state governor in the US.
The delegation will hold meetings with Prime Minister Benjamin Netanyahu, President Shimon Peres, US Ambassador Daniel Shapiro, President of the Tel Aviv Stock Exchange Esther Levanon, the Ministry of Economy & Trade, The Israel National Economic Council, DuPont Israel (Delaware’s largest commercial presence in Israel), as well as several business incubators and venture capitalists.
“Delaware is an ideal choice for Israeli companies seeking to enter the US market,” said Markell, “We are one of the smallest US states, but have succeeded in building an effective system that minimizes red tape for businesses, eliminates archaic regulatory hurdles, and provides business leaders with easy access to senior state officials. Our successful track record shows we provide an environment in which businesses can establish, grow and thrive.”
Delaware's sophisticated business laws and its highly regarded courts make it one of the most favorable states in America for incorporation. More than one million businesses have their legal homes in Delaware, including 55% of all U.S. publicly traded companies, 64% of the Fortune 500 and 80% of new US Initial Public Offerings. Additionally, thousands of Israeli-based businesses are incorporated in Delaware. Israeli high tech companies incorporated in Delaware such as DSP Group, Ceva, Verint Systems, Vyyo, Deltathree, Big Band Networks, Prolor Biotech, and EFI gained access to global capital markets, allowing them to raise billions of dollars over the last decade. (Mercury and DSP Communications were formerly in this category, before going public and being purchased by HP and Intel, respectively.)
The governor seeks to use this mission as an opportunity to strengthen existing Delaware-Israel ties and forge new relationships with Israeli business leaders looking to expand their operations to the US.
Markell took office in 2009. He began his career in the private sector, helping lead the wireless technology revolution as the 13th employee at Nextel (a name he coined), where he served as Senior Vice President for Corporate Development. His other business experience includes a senior management position at Comcast Corporation, work as a consultant with McKinsey and Company and as a banker at First Chicago Corporation.
Published by Globes [online], Israel business news - www.globes-online.com - on July 9, 2013
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