International Profile: Israel
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Israel is an important source of knowledge transfer for Victoria. It has been very successful at commercially exploiting its knowledge capital through strong links between educational institutions and innovative enterprises.
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Companies worldwide are engaged in a growing array of strategic alliances in order to acquire the technological capacity to maintain competitive advantage. In this context, there is much untapped potential for Victoria-Israel collaboration. Benefits for participants include:
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- Improved business and trade relationships between Victoria and Israel, including enhanced access to European and North American markets through Israeli networks, and enhanced access to Asia Pacific markets through Victorian networks
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- A stronger local science and technology industry through access to early development capital for joint projects with Israeli organisations
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- Leveraging of complementary capabilities in areas such as stem cells, cell therapy, synchrotron science and water treatment technologies as well as sharing related risks
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Victoria is home to around 20 Israeli companies of which half are from the ICT sector. These include ClickSoftware, Ex Libris, Gilat, Rad Data, Radware, Shiron, Sunguard, Tescom and Wizcom Technologies.
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Australia's imports from Israel include telecommunications equipment and fertilisers. Further the innovations of the kibbutz movement have enabled Israel to become a leading exporter of agricultural technology and knowledge.
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Australia sells a range of products to Israel including knowledge based exports such as biotechnology, medical technologies and related services. There's much innovation and opportunity for investment. In 2004-05, Australia's merchandise exports to Israel were worth around A$173 million while imports from Israel were worth around A$584 million.
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Victoria and Israel both face similar challenges in areas such as environmental and water sustainability, and both are positioning themselves as knowledge-driven economies for the 21st century.
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