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This is the total dollar worth of products brought to market last year, thanks to research coming out of the Weizmann Institute. This information comes from a 1997 survey conducted by the Tel Aviv-based accounting firm Kost Levary & Forer, a member of Ernst & Young International. There's more. These numbers translate into employment for 5,300 people, among them approximately 1,000 new immigrants who are employed by Institute-generated companies and their various offshoots.
The survey goes on to reveal that 19 start-ups were formed, established directly as a result of Institute research. In the main, they develop products for export. Yeda Research and Development Co. Ltd., the Institute's technology transfer arm, was a partner in 14 of the ventures. In addition, numerous Israeli companies received licenses to sell products originating, at least in part, from Institute research.
All told, some 70 companies operate in the 31-year-old Kiryat Weizmann Industrial Park. In 1997, total aggregate sales amounted to approximately $500 million.
"Incubator" is a concept that was initiated in Israel by the Weizmann Institute. Twelve hi-tech incubator firms also operate in Kiryat Weizmann, assisted by the Institute; another nine have "hatched" and operate independently. Most of these companies work on projects resulting from the ideas of olim (new immigrant) scientists and engineers.
According to accountant Yitzhak Forer, "Every dollar invested in scientific research helps to create industrial activities worth several dollars. In other words, from the point of view of Israel's economy, long-term investment in scientific research is an engine which drives the entire market." And how.
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