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The Massachusetts-Israel Economic Relationship, 2nd Edition
Israeli Innovation and Entrepreneurship Are a Major Driver of the Massachusettss Economy
An independent study by Stax Inc., a global strategic consulting and research firm, prepared for NEIBC, reveals that Israeli-founded businesses generate enormous jobs, revenue and capital activity in Massachusetts.
|To read the complete study, click on this image
(PDF file, 1.7 mb)
Among the key findings of the study:
- Israeli-founded companies contributed $6 billion in direct revenue and over 6,600 jobs to the state’s economy in 2012
- The employment base of Israeli-founded businesses grew five times faster than the state’s economy between 2009 and 2012.
- Over 200 Israeli-founded businesses called Massachusetts home in 2012.
- Israeli-founded businesses represented 2.9% of the Massachusetts GDP in 2012.
- Israeli-founded businesses secured $700 million in venture capital from 2010-2012 across 73 deals, representing over 6% of all venture capital funds raised in the state.
- These businesses returned nearly $2 billion to investors in mergers and acquisitions from 2010-2012 across 14 deals.
- Israeli alumni of Massachusetts colleges started 30% of the Israeli-founded companies in the state.
Links about the study:
Photos from the announcement event
|Massachusetts Gov. Deval Patrick|
|Joel Schwartz, Senior Vice President for Global Development, EMC|
|Robert Kraft, Chairman and CEO of The Kraft Group|
|Amir Eldad, Chairman of the New England Israel Business Council; and Akhil Nigam, Founder and President of MassChallenge|
|New England - Israel Business Council | Seaport West, 155 Seaport Boulevard | Boston | MA | 02210 | firstname.lastname@example.org|