Independent study highlights Israeli economic impact on Massachusetts
WALTHAM, Mass.--(BUSINESS WIRE)--A groundbreaking study released today at the New England-Israel Business Council’s 2010 Life Sciences Summit at Brandeis University in Waltham, Massachusetts revealed the scope and impact of Israeli related businesses on the Massachusetts economy.
“For us, the choice of Massachusetts was clear, and a perfect match to position our Israeli robotic technology to be able to provide a safer and more precise heart catheterization for the patient and the physician”
The new study, “The Massachusetts-Israel Economic Relationship,” conducted by Stax Inc., an independent global strategy consulting firm, shows the impact of Israeli innovation and entrepreneurship on the Commonwealth’s economy, and underscores the importance of Israeli relations to the state, especially in the area of life sciences and high-tech.
Highlights of the study include:
“For us, the choice of Massachusetts was clear, and a perfect match to position our Israeli robotic technology to be able to provide a safer and more precise heart catheterization for the patient and the physician,” said Tal Wenderow, Co-Founder and Executive Vice President of Marketing and Business Development, Corindus Vascular Robotics. “Our CorPath 200 System is the first robotic assisted system to perform heart catheterization and stent placement. In preparation for commercial launch we have grown our employee base significantly over the past two years, and we expect even more rapid growth once FDA approval is received.”
"The Commonwealth is a natural destination for Israeli innovators and entrepreneurs, due to our common focus on the life sciences, technology, and clean tech industries, as well as our shared commitment to outstanding universities and highly-skilled workforces. The many Israeli companies that have successfully established in Massachusetts are evidence of the strong relationship that exists between our two regions. We look forward to the continued growth of this relationship in the future,” said Ted Carr, Executive Director of the Massachusetts Office of International Trade and Investment.
“Massachusetts is a natural fit for Israeli businesses looking to expand, due to the our common focus on life sciences, IT, and clean technology,” said Yair Shiran, Israel’s Economic Minister to North America. "Israel has been called the ‘Start-Up Nation’ for its success in new business innovation. When Israeli entrepreneurs look to globalize, they seek out places where there is an abundant workforce with higher education degrees, strong industry clusters, and a track record of new technologies becoming successful businesses.”
The Stax study, which surveyed Massachusetts business executives of companies based on Israeli innovation and entrepreneurship, also found that other states are aggressively pursuing linkages with Israeli businesses. The analysis also details ways that Massachusetts can strengthen its economic ties with Israel and compete with other states.
“The Massachusetts-Israel Economic Relationship” study was released at the New England-Israel Business Council’s 2010 Life Sciences Summit hosted by Brandeis International Business School. “The Massachusetts-Israel Economic Relationship” study was commissioned, in part, by the Combined Jewish Philanthropies.
The complete study results available upon request.
