Private-Sector Initiative Aims to Turn Jerusalem Into International Hub of Health and Life
StartUp Jerusalem, a non-profit, independent venture bringing Jewish and Arab business leaders together to create a new economic future for Jerusalem, today launched a comprehensive plan for transforming the city into a major international center for industry in the health and life sciences.
(PRWEB) October 21, 2004
StartUp Jerusalem, a non-profit, independent venture bringing Jewish and Arab business leaders together to create a new economic future for Jerusalem, today launched a comprehensive plan for transforming the city into a major international center for industry in the health and life sciences.
The project, chaired by venture capitalist Alan Feld, has already identified a geographic “cluster” of existing biotech, pharmaceutical and medical device companies for development in the city, based on the theory and proven model of Harvard Business School professor Michael E. Porter for giving cities an economic edge. Porter, whose methodologies have achieved success in many of the world’s leading business centers, including the Massachusetts Life Sciences cluster and the Norwegian Maritime cluster, is now lending his support to StartUp Jerusalem as its honorary chairman, and was present at the October 18 Jerusalem conference that launched the initiative.
Israel's finance minister, Benjamin Netanyahu, pledged government support for the project at the conference.
"Jerusalem possesses some of the finest R&D facilities in Israel," explains CEO Eli Kazhdan. "In 2002 alone, 50% of all biotech patents registered in Israel came from either Hebrew University or Hadassah hospital, both Jerusalem-based institutions. In fact, Hebrew University hosts the country's most experienced technology transfer organization, Yissum, whose IP revenues in 2003 were $ 31 million – more than MIT, NYU or Harvard."
Daniel Orkin, the Health and Life Sciences Cluster Manager adds: "Jerusalem is already home to a variety of biotech, medical and pharmaceutical companies, ranging from international names such as Teva, Medinol and Oridion to small start-ups. And finally, the city's hospitals rank among the best in the country, with internationally-recognized leaders in numerous departments such as cardiology, oncology, fertility and genetics. All of the hospitals and major biotech, medical and pharmaceutical companies are represented on the cluster steering team."
StartUp Jerusalem was initiated by leaders in the city's private sector to address the city's growing problem of unemployment and stem the exodus of young, educated families from the city. It works hand-in-hand with the Ministry of Finance, the Ministry of Industry and Trade, as well as the Jerusalem Development Authority and the Jerusalem Business Development Center.
For information: Melanie Rosenberg, 972-2-6250477 www. startupjerusalem. org
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