BEIJING, March 20, 2017 – Compass Ventures Group sat down today with Mr. Eli Cohen, Israel’s Minister of Economy and Industry as part of the Israeli Prime Minister’s Business Innovation Forum held in Beijing in light of Israel’s Prime Minister official visit to China.
Benjamin Netanyahu, Israel’s Prime Minister, was invited to China to celebrate the 25th anniversary since the establishment of diplomatic relations between the two countries. He was accompanied by Economy and Industry Minister Eli Cohen, Science, Technology and Space Minister Ofir Akunis, Health Minister Yaakov Litzman, Agriculture Minister Uri Ariel, and Environmental Protection Minister Zeev Elkin. The delegation also included senior Israeli business leaders, actively invested in China across a range of industries and companies. The members of the business delegation attended on Monday the innovation forum chaired by Prime Minister Netanyahu, attended by Vice Chairman of the Chinese People’s Political Consultative Conference (CPPCC) and the Minister of Science and Technology of China.
Dr. Ronen Dagon, Chairman of Compass Ventures and Mr. Moshe Kamar, CEO of Compass Ventures, part of the Israeli business delegation, together with Tus Holdings (Investment arm owned by Tsinghua University) were invited to attend the forum in China and meet with Israel’s Minister of Economy and Industry, Mr. Eli Cohen, to discuss investment, knowledge transfer, and promotion of Israeli technological innovation in China.
Compass Ventures, a leading global fund management expert, presented its vision to act as a catalyst for innovation between Israel and China with the objective of crafting strategic partnership agreements and initiatives that will create a cross-border ecosystem between the two countries.
As such, Compass Ventures together with Tus Holdings (a company owned by Tsinghua University, China’s leading academic institution) announced it will establish two different investment funds to support its investment strategy. The funds will support investment in Israeli technology companies and will empower the technological and scientific exchange between China and Israel by providing resources to develop and scale-up break-through technologies with significant growth potential.
This joint initiative will enable to invest in Israeli technology companies at growth stage, the development of a range of cross-border China-Israel science and technology innovation parks, focusing on technology, R&D, bilateral trade collaborations, academic cooperation and the creation of dedicated incubators between the two countries.
“Israel is well-recognized for its many innovative resources and advancement in the science and technology sectors. Combined with China’s cross-border foreign economic policy, we have an opportunity to join forces and partner on world-class ground-breaking strategic initiatives” said Dr. Ronen Dagon, Chairman of Compass Ventures. “Over the past few years, Compass has gained incremental expertise in finding, growing and exporting key Israeli technologies, the time has arrived for us to share our business expertise and leverage it in partnership with our strategic Chinese counterparts” said Mr. Moshe Kamar, CEO of Compass Ventures Group.
Minister Cohen congratulated Compass Ventures on its unique perspective to focus on innovation and technology collaboration projects with China, while praising the Compass Ventures team for its professional acumen and resourceful network of partners in the Chinese market. Minister Cohen commented: “Israel is an innovative country in the field of scientific and technological innovation and we hope to carry out more cooperation with China in the near and long-term future. Building an ecosystem platform where China can collaborate directly with Israeli Companies, Israeli universities, research institutions, commercial organizations, and the government is precisely what will give a strong boost to this initiative.”
About Israeli Prime Minister’s Business Innovation Forum
This is the third year the business innovation forum is taking place in Beijing, and initiative put in place since 2015 to promote trade and business collaboration between China and Israel across a range of scientific, technological and environmental sectors. Over 500 Chinese and Israeli business people were invited to this year’s forum, alongside key political leaders and ministers from both countries.
About Compass Ventures Group (Compass VGG)
Compass Ventures Group is a leading holding group specializing in new innovative technologies, investing and managing leading technology projects around the globe. Compass was founded by former senior World Bank and world-class executives, each bringing unique global exposure and expertise with extensive business experience and know-how which form the key pillars of Compass’ vision and success. The global Compass network is strategically spread-out across leading and target markets, differentiating Compass by its multinational reach and ease of building ties in any market. With a large-scale portfolio of business contacts, experts, and key market leaders, Compass is a leading innovation expert across a wide range of sectors: environmental protection, water, green technology, security, automotive, medical, security, smart city, safe city and additional high-tech fields.