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Higher Education Hub
Massachusetts is home to over 100 colleges and universities. Some, like Harvard
and MIT, are world renowned institutions with brilliant researchers and students
conceptualizing the future’s best entrepreneurial ideas. Others, such as the state’s
15 community colleges, teach crucial technical skills. Whether one is looking to
fund groundbreaking technology or grow a business with a specialized workforce,
Massachusetts’ status as the number 1 state per capita in awarding new college
degrees provides a deep talent pool to draw from. The state’s 200 Israeli founded
businesses as of 2012, which support over 23,000 Massachusetts jobs, already
use this skilled workforce to their advantage.
State Government Initiatives
Massachusetts businesses find a wealth of government programs to accelerate their
ideas. Below are prominent initiatives related to the industries discussed above:
The Massachusetts Life Sciences Center (MLSC) leads the public sector life
sciences support effort. Since 2008, MLSC has leveraged US$595 million of its
own commitments into more than US$2 billion of additional outside investment.
MLSC’s public-private partnership emphasis multiplies the effect of regional industry
investment.
In clean energy, the Massachusetts Clean Energy Center (MassCEC) acts as an
investment and advisory resource to the state’s cleantech sector. In 2014, MassCEC
had an investment awards budget of more than US$40 million. They also consulted
with almost half of all clean energy pre-commercial enterprises on issues ranging from
patents to laboratory testing.
Ease of Coordination with Israel
Massachusetts is a natural fit for Israeli entrepreneurs, especially compared against
other U.S. regions. Boston is six hours closer to Israel than the West Coast, and
the addition of El Al direct flights from Tel Aviv makes the excursion even easier.
Massachusetts also has time of day overlap with Israel, meaning a company with
Boston and Tel Aviv offices can check-in until at least 10:00am Eastern Time on
any day. Finally, the state’s thriving Israeli community promises both networking
opportunities and cultural connections for those who decide to plant roots.
Massachusetts and Israel – Many Likenesses, but Some Differences
Massachusetts offers Israeli businesses many advantages. Transaction types,
including venture capital, share jurisdictional commonalities, and many Israeli lawyers
and investors easily navigate U.S. terms and structures. However, legal and business
culture differences do exist.Laws governing employment,healthcare,finance,and local
securities require local involvement to ensure proper compliance. Additionally, when
creating business partnerships, Israeli and Massachusetts participant interactions
often require Israeli adjustment to a more hierarchical structure and a different
degree of procedural adherence. This said, Israelis will find that their Massachusetts
counterparts understand initial cultural gaps and, after an acclamation period, the
shared emphasis on excellence and initiative-taking forge strong business ties and
social networks.
Massachusetts offers Israeli businesses many advantages. Transaction types,
including venture capital, share jurisdictional commonalities, and many Israeli
lawyers and investors easily navigate U.S. terms and structures.