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Non-Tech : Israeli stocks

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From: midastouch017	1/15/2006 5:47:16 AM
	of 94

Scandinavian hi-tech delegation visiting, after 5-year boycott 15.1.06 \| 10:18 By Oded Hermoni After five years of boycotting Israel's hi-tech industry for political reasons, a Scandinavian venture capital delegation will be landing in Tel Aviv this morning. Five years ago the Norwegian Industry minister had called for a boycott of Israel, but times have changed. The visit was initiated by Israel's Venture Capital Association working with Israel's trade envoy to Sweden, Motti Ish-Shalom. The Nordic delegation represents 12 venture capital funds with a combined $3 billion under management. They have invested in 250 startups. The delegation is led by Johan Hernmarck, the chairman of The Swedish Private Equity & Venture Capital Association. He is also a founding partner of IT Provider, which has $400 million under management and invests in startups and other venture capital funds. Managers from Sitra, the Finnish national fund for R&D, are also in the delegation. Sitra has $600 million under management. Among other things Sitra is involved in joint R&D between Finnish and other bodies. This is the first time a Nordic delegation of the type has come to Israel. There has been very little cooperation between Israeli and Scandinavian hi-technology. haaretz.com Dubi

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