18,000 representatives of companies and enterprises attended the Bio 2005 Annual International Convention in Philadelphia last week.
The Israel Life Science Industry (ILSI), founded last January, which includes many Israeli life sciences companies, set up for the first time an official Israeli pavilion. Ten enterprises, companies, and university applications companies made presentations in the pavilion. 20 representatives of Israeli companies took part in the event, as did representatives of the Ministries of Science, Culture, and Sport; Foreign Affairs; and Industry, Trade, and Labor.
The Israeli delegation wanted to provide the Israeli pavilion with an advantage, and distinguish it from the other national pavilions. The delegation therefore concentrated on companies doing research on stem cells and the central nervous system. Among other things, the delegation made a presentation to investors, hosted by Ministry of Industry, Trade, and Labor Chief Scientist Dr. Eli Opper. Also taking part in the presentation were Pitango Venture Capital partner and ILSI chair Ruthie Alon; Weizmann Institute of Science Prof. Michal Schwartz, who spoke about her research on the central nervous system; and Dr. Joseph Itskovitz-Eldor from the Technion - Israel Institute of Technology and Rambam Medical Center, one of the world’s leading pioneers in stem cell research.
"Globes": What are your goals at the conference?
Opper: ”We want people to know the Israeli industry, and we’re trying to bring multinational companies to establish development centers in Israel. There are none now, since Serono (NYSE: SRA; SWX: SEO) closed down InterPharm Laboratories for political reasons, among others.
”Large high-tech companies came here 30 years ago, and aren’t inclined to casually dismantle such business. Today, we’re not attractive enough for all sorts of reasons, and we have to try to make up for it. As long as the major companies aren’t coming, it’s a sign that we have to do more. The acid test is whether they come or not. We’re working on a package of grants, tax breaks, and personal attention by Minister Ehud Olmert, who talks with people from all over the world. Things are moving, and the situation is improving.”
Is anything specific on the agenda?
”We’re negotiating with several such companies, but it doesn’t look like anything will be closed in the next few months.”
Opper says that biotechnology did not received priority before the past few years: “Traditionally and officially, the Office of the Chief Scientist has no preference for any industry, to this day. On the face of it, a carpenter who has a good idea can ask for financing. Three or four years ago, we began giving preference to biotechnology.”
How does this preference express itself?
”Our preference is expressed through attention, such as my personal involvement in this pavilion. There are many sectors in which the Chief Scientist isn’t personally involved. Dr. Ora Dar was appointed to head the field; a biotechnology incubator was founded in January this year, which is worth money and research conditions; and we have also tried other things that were unsuccessful. We have also held discussions in the research committee, and have made an official decision on preference for the sector. That means that if a project can ordinarily be budgeted at 20%, 30%, or 40% of its value, in biotechnology, if the project passes a certain threshold, we’ll budget it at 50%. In addition, we’ll try to provide a more generous budget.”
At whose expense?
It will obviously be at the expense of other things, which may need the money less. At the moment, we’re focusing on biotechnology and nanotechnology.”
Published by Globes [online] - www.globes.co.il - on June 27, 2005