IT mission spends weekend in Israel

Israel was again the destination this weekend for an Australian IT mission, led by the Federal minister for trade, Mark Vaile.

A selection of local information and communications technology (ICT) businesses left Australia last week to attend a three-day program of trade talks and meetings, including a meeting with the Israel - Australia, New Zealand & Oceanic Chamber of Commerce.

According to Vaile, the mission is designed to focus on venture capital and investment opportunities, including strategic partnerships between companies from the two countries.

"Political and economic necessities, plus government incentive funding, have made Israel one of the world's high-tech success stories. Today, there are more than 2500 high-tech startups active in Israel, with more than 80 venture capital funds managing about $US3 billion dedicated to high-tech investment," Vaile said.

"This mission will provide an opportunity for Australian investment groups and incubators to establish links with similar Israeli companies, to build on each other's expertise, market links and capital base," he said.

This mission follows previous trade visits to Israel led by Senator Alston, minister for information, communications and the arts, and Bob Mansfield, Telstra chairman.

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