Israel's current economic statistics are poor. A precipitous drop in tourism is mostly to be blamed.
Unemployment is also on the rise. It is hard to deny that this country is undergoing a recession. The situation
appears grim. Yet it is really not as grim as the public statements that emanate from the media, and from
vociferous prophets of doom.
"It Ain't Necessarily So", the lyric in George Gershwin's classic American folk opera Porgy and Bess, is more
fitting.
In reviewing the contents of this, our end of the year December 2001 issue, we find ourselves reporting on some
of the many Israeli high-tech companies that are obtaining millions of dollars in funding to pursue their
technological activities. This is occurring while others complain that investment funds for start-ups have totally
dried up, on both sides of the Atlantic.
In the September 1991 editorial we quoted the Bible "Behold! I place before you a blessing and a curse." We
continued, "The miraculous flood of Russian Jewry, the amazingly short Gulf Conflict, the prospect of a unified
Europe and the sudden announcement of a regional conference to deal with the Israeli-Arab conflict, all have
about them that double possibility. On the one hand, fulfillment of the age-old prophecy -- of a life of peace for
Israel with its neighbors - seems within our grasp. On the other hand..."
Ten years have passed. US Secretary of State Powell recently spoke eloquently of a vision for a peaceful and
tranquil Middle East. The promise of a new step towards non-belligerence, though serious suspicions exist
between Palestinian Arabs and Israelis, once again, is a possibility. However, ten years ago the Israeli
high-techies were without any capital at all. The venture capital industry, as we know it today, was yet to be born.
Much has happened in that decade. Recently, on a beautifully sunny day, we visited the suburban Nes Ziona
Science Based Industries Park. It is adjacent to the Weitzman Institute of Science in Rehovot. Ten years ago it
was a small park inhabited by just a few companies. What is most striking today, is that the Park houses
hundreds of companies in modern quarters. In the laboratories and on the production lines. billions of dollars of
exports are being produced. These range from Interferon, developed in Israel by a group of scientist led by
Professor Michel Revel of Weitzman Institute, to electro-optics, and to biotechnology developments. Many of the
scientists and engineers employed there speak Hebrew with a tinge of a Russian accent. One of the companies
we feature in this month's Report, is located in that Park.
Anyone who doubts the resourcefulness of the Israeli is recommended to "Take a Walk in the Park" -- the
Science Based Industries Park in Nes Ziona, within sight of the Weitzman Institute, and 20 minutes away from
where we will continue to report on these wondrous events as we begin our eighteenth year.
In the Zohar, the Book of the Kabbala (Jewish mysticism), the acronym for 18 spells Chai ("Life" in Hebrew), and is
generally considered as the luckiest of numbers.
In the spirit of the meaning of Chai, the team from the Israel High-Tech Report wishes one and all, a Happy
Holiday Season and a Happy New Year 2002.
Our Report is currently celebrating the beginning of its 18th consecutive year of publication.