Virginia companies can access Israeli innovative technologies to gain competitive advantages and shorten R&D cycles and lower costs.
Israel has the highest number of people (per capita) working in R&D in the world and the highest venture capital investment levels per capita in the world. These factors created a pool of hundreds of early-stage, innovative Israeli companies seeking to enter the U.S. market, and they are ripe to partner with mature Virginia businesses.
To access Israeli innovation, many leading U.S. companies built substantial R&D centers and business accelerators in Israel (e.g. Google; Apple; Motorola; CNN; Coca Cola; Microsoft). Intel recently committed investing $11 billion more in their Israel plant and Warren Buffet’s first acquisition outside the U.S. was an Israeli company.
The Virginia Israel Advisory Boards Open Innovation program provides Virginia companies access to innovative Israeli Technology and can often fund R&D and product development JVs.
Open (External) Innovation programs enhance internal R&D by acquiring I.P. technology and products outside of the company. 15 examples of Open Innovation between the largest U.S. companies and start-ups
VIAB Open Innovation Program – Process
- Large Virginia enterprises with structures open innovation programs provide their requirements
- VIAB identifies and vets innovative Israeli technologies for Virginia companies per their criteria
- Jointly develop product and partnerships between the Israeli and Virginia entities through a range of models including new company formation in Virginia and expanding the Virginia company’s operations.
- Fund the joint Israeli-Virginia R&D and commercialization projects through Israeli funding sources.