Gov encourages clean technology
Massachusetts Governor Deval Patrick spoke on campus at the culminating event of the Israel Cleantech Investor Conference, which praised the Israeli companies present for starting and stressing the importance of the clean technology industry last Tuesday. "This industry, in its various permutations, helps to meet a need for solving climate change and finding alternatives to foreign oil," Patrick said. He also praised Brandeis, calling the University a "wonderful citizen in helping build partnership in a new world," referring to the fact that Brandeis is very environmentally friendly.
The Brandeis International Business School sponsored the Israel Cleantech Investor Conference, which ran all day and ended with a dinner with the investors, the Israeli entrepeneurs and Patrick. Michael Appel, the executive director of development and external affairs at IBS, said in an interview with the Justice that 16 Israeli entrepreneurs who are involved in start-up companies with clean water and alternative energy attended the conference.
Appel said some of the entrepreneurs merely had ideas for the companies, some had start-up companies and some had products on the markets. All the entrepreneurs, he said, need more capital to take their companies to the next level. The purpose of the conference was to introduce these Israeli companies to a group of "angel investors," who, according to Appel, are American venture capitalists who invest in start-up companies. The venture capitalists are mainly from the Boston area and see valuable business opportunities with these Israeli companies.
Tami Durst, the executive director of the New England-Israel Business Council, one of the sponsors of the conference, wrote in an e-mail to the Justice that "The New England-Israel Business Council's goal is to increase economic development and promote business partnership between Israeli entrepreneurs and New England firms. We do this by creating opportunities for companies and business executives from both countries to get educated about each other's innovative technologies and business opportunities, matching businesses with strategic partners and investors, and partnering with organizations that have similar goals."
Appel said that following opening remarks by University President Jehuda Reinharz, Dean of the IBS Bruce Magid and Chair of the IBS Board of Overseers Arthur Goldstein, each of the 16 companies presented their products to the venture capitalists, trying to entice interest in their companies.
"It is hard to say if these ideas will come to fruition [as a result of these conferences], but they were extremely valuable," Appel said.
Venture capital funds Atlas Venture and the North Bridge Venture Partners, along with the law firm Greenberg Traurig, co-sponsored the event with the Government of Israel Economic Mission, the Consul General of Israel to New England, the New England Israel Business Council and the Israel Export and International Cooperation Institute.
Appel said Governor Patrick was the keynote speaker at the dinner because he has "a major interest in cleantech industries and feels Massachusetts has the intellectual firepower to develop and grow high-tech companies, as he sees it as a means to help grow the economy."
Massachusetts has also made tremendous strides in the area of clean technology. Patrick said in his speech that "Massachusetts passed a series of legislative measures beginning with the Clean Energy Bill, the bill enacted last July to encourage renewable energy through mandates and incentives, the Green Jobs Bill, enacted last March, which earmarked more than $50 million to encourage clean energy companies to move to Massachussetts, and the BioFuels Bill, which is an oceans management piece of legislation, all of which in a package really set us apart from just about any other state in the United States in creating an environment for innovation and breakthroughs in cleantech."
He also encouraged the venture capitalists to invest in the Israeli start-up companies. "Take the time to build relationships with that talent for the benefit of our respective economies and indeed for the benefit of the world. Let's use this occasion to build on that affluence, to spend it wisely, to invest it fruitfully for the betterment of all of us in the future," Patrick said.
Patrick's speech indicated that Massachussetts' efforts to promote clean energy companies provided an incentive for the Israeli entrepreneurs to attend the conference. Appel felt that Patrick's speech was "very positive. He was clearly delighted to underscore key themes of the conference, like innovation through technology, and using clean tech as a key to global prosperity."
Matt Parillo, the senior associate director of communications at the IBS, echoed Appel's praise in an interview with the Justice. "The speech illustrated how cross-cultural collaboration will help lay the foundation for economic growth," he said.
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