A Jewish Initiative for Israeli Biotech

<i>Globes</I>, Israel’s financial newspaper, reported last month on a recent initiative by a group of Jewish businesspeople to encourage investment in, and to fund themselves, projects in Israel’s biotechnology sector. <BR>

Aug 10, 2003, 5:46 PM (GMT+3)

The fund is to begin with $10 million for investment and five members - from South Africa, Canada, Britain and Australia, according to the Globes report.

In addition to acting as venture capital fund for its members, members of the group will also act as facilitators of contacts between Israeli firms and private investors. The group will also be establishing a non-profit biotech organization, emphasizing start-ups and small companies, Globes reported.