Delaware Adds Its Voice to Discussion on US-Israeli Business Innovation

Governor Jack Markell rang The Opening Bell at the New York Stock Exchange (NYSE) this morning as part of an event recognizing US-Israeli partnership in business innovation. Thousands of Israeli-based businesses – not to mention 55% of the companies listed on the NYSE – are incorporated in Delaware, and there are ever-increasing trade opportunities between Israeli and Delaware companies.

“There are many ways in which Israeli and Delaware businesses can collaborate and build partnerships now and in the future,” said Governor Markell. “Over many decades, Israel has led the world in finding ways to successfully commercialize research.   For over a century, Delaware industries have also been at the forefront of commercializing research and, in the past 15 years, our State and universities have focused increasingly on finding ways to commercialize academic research. We have had success in many areas, becoming a national leader in bio-technology, alternative energy, composites, and electrical engineering.”

“Israeli and Delaware businesses share the a great potential for partnership,” said Governor Markell. “Israel has led the world in finding ways to successfully commercialize research. Delaware businesses and our universities have focused increasingly on finding ways to commercialize academic research. We are becoming a strong national leader in bio-technology, alternative energy, composites, and electrical engineering. Delaware welcomes innovation and we want more innovative businesses to call Delaware home.”

The annual Israel Day at the New York Stock Exchange event was a prime opportunity for Governor Markell and others to talk about Delaware as a center for business startups, research and development, as well as finance. Sponsored by NYSE Euronext and the America-Israel Friendship League, the event brings together dozens of CEOs, entrepreneurs, investors and legal professionals to attend a day of presentations and roundtable sessions on cooperative trade and development efforts between Israel and the United States.

This year, in addition to Governor Markell, attendees heard from people such as the Israeli Ambassador to the UN, the CEO of the Tel Aviv Stock Exchange, and CEOs from Israeli companies looking to grow their business in the United States.

Delaware plays an important role in enabling the types of innovative, cross-border business partnerships that were the subject of the event. With its modern and flexible laws, highly respected courts, and friendly business environment, Delaware is a leading jurisdiction for intellectual property matters and personal wealth management products and services. The State’s legal system has been consistently named the Best Legal System in the nation by the US Chamber of Commerce.

Karl Steiner, the University of Delaware’s Associate Provost for Research and Development, participated on a panel discussing ways academic groups are working with businesses and governments to boost trade and research partnerships between the U.S. and Israel.

The University of Delaware and Delaware’s business community have been partnering for over a decade to develop world-class research, incubation and commercialization facilities which have included the Delaware Technology Park, the Delaware Bio-Technology Institute and the Fraunhofer Center for Molecular Bio-Technology.

Governor Markell noted that the small country of Israel has given birth to companies at the cutting edge of so many fields, but added: “Though my state is also small, we have the highest per capita concentration of patent holders and Ph.D. researchers in the United States.”

In addition to Governor Markell, other Delawareans participating in today’s event included Delaware Secretary of State Jeffrey W. Bullock; Delaware Business Roundtable Chair Ernie Dianastasis; ILC-Dover CEO William Wallach, and past President of the Delaware State Bar Association Benjamin Strauss.

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