Friday, February 11, 2011

Mass Technology Leaders Join Governor Patrick on Innovation Economy Mission to Israel and the UK

(Photo credit: Matt Bennett/Governor's Office).

A coalition of the state's leading business executives and senior government officials will take part in the Massachusetts Innovation Economy Partnership Mission 2011 to Israel and the United Kingdom. The coalition will explore growth opportunities within the Commonwealth's innovation-based industries and areas of common interest between the state's established and emerging partners in Israel and the UK.

The mission will focus on business expansion, job growth and collaboration during industry forums, company visits and meetings with Israeli and UK business leaders and government officials in Tel Aviv, Haifa, Jerusalem, London and Cambridge. The Massachusetts delegation will arrive in Israel on March 7th, and depart the United Kingdom on March 17th to return to Boston.

"Massachusetts is an unparalleled leader in the global economy and a trailblazer for the nation. To continue to compete on an international level and create new jobs here at home we must look outward to new markets, and position Massachusetts as the North American destination for business growth," said Governor Patrick.

Today there are nearly 100 companies with Israeli founders or Israeli-licensed technologies in Massachusetts. In 2009, these companies employed nearly 6,000 people and generated $2.4 billion in direct revenue for the state. Local firms exported over $180 million worth of goods to Israel in 2009 and, at 12.35 percent, the United States is Israel's largest source of imports.

There are currently 478 companies with UK-ties in Massachusetts. Of these, 225 UK-owned companies in the state employ 40,100 Massachusetts residents. Additionally, 253 Commonwealth-based companies have established operations in the UK. Massachusetts companies exported over $4 billion worth of goods to the UK in 2009 and the United States is the UK's second largest source of imports at 9.74 percent. For two years in a row, the UK has been the largest market for Massachusetts exports.

Like Massachusetts, both countries boast thriving technology sectors and the opportunities for collaboration and investment are significant. The UK's Information Communication Technologies sector is the largest in Europe, and employs over a million people.

Over the last two years governors and top officials from 21 states have led trade missions to Israel and the United Kingdom, a clear indication that our counterparts consider these efforts to be wise investments for their businesses and citizens.

Council President & CEO Tom Hopcroft and the following executives from MassTLC member companies will be participating in the business delegation: Jaime Goldstein, Partner, Northbridge Venture Partners; Gary Gottlieb, President & CEO, Partners HealthCare; Michael Greeley, General Partner, Flybridge Capital Partners; Brian Halligan, CEO & Founder, HubSpot; Tom Heiser, President, RSA, Security Division of EMC; Diane Hessan, CEO, Communispace; Andy Ory, CEO, Acme Packet; Steve Papa, CEO, Endeca; and Dr. Ido Shoenberg, MD, Chairman & CEO, American Well.

Read full press release.

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