A study in contrasts... --MW
________________________________________________________________________
Israel to invest $1 billion in new high-tech companies
Copyright ) 1998 Nando.net
Copyright ) 1998 Reuters
TEL AVIV (January 8, 1998 09:12 a.m. EST http://www.nando.net) - The
Israeli government has initiated a plan to form a $1 billion fund to
invest in high-tech start-ups, Finance Minister Yaacov Neeman said on
Thursday.
"I fully believe the future of Israel's economy depends on the
advancement of high tech," Neeman said at a conference on start-ups.
The government itself will invest $100 million in the fund, and is
talking to local and foreign investment banks about investing in and
managing the fund. He did not say when it would be established.
The fund would be the second undertaken by the Israeli government. The
Yozma fund, which it formed in 1992 to support private sector venture
capital funds and jump start the industry, was privatised in March 1997.
In addition, the government supports high technology research and
development through grants from the chief scientist's office and
early-stage companies through state-sponsored incubators.
The chief scientist, Orna Berry, has complained that requests for aid
are far in excess of her budget.
"I agree with those who say this isn't enough," Neeman said. "But I
believe the government shouldn't take all the risk."
The $1 billion fund will increase private sector investment in start-ups
and reduce the pressure on the government's budget, he said.
________________________________________________________________________
France to help small firms with Internet
Copyright ) 1998 Nando.net
Copyright ) 1998 Reuters
PARIS (January 8, 1998 07:48 a.m. EST http://www.nando.net) - France
plans to devote $8.2 million this year to supporting Internet use by
small and medium-sized companies, Secretary of State for Industry
Christian Pierret said Thursday.
Only 30 percent of small and medium-sized firms had Internet access in
1996, and only 15 percent had plans to link their computers to the
network, he said in the text of a speech to France's Internet society.
That compared with 50 percent in Germany and 45 percent in the United
Kingdom.
"Small and medium-sized companies would profit greatly by using this
tool," he said, noting that they were the country's main potential job
creators.
This archive was generated by hypermail 2b30 : Fri Apr 13 2001 - 12:59:23 PDT