Volume 1.1

Maryland/Israel Development Center's Trade eNews - January/February 2003

MIDC/General Interest News

Revamped Website and eNewsletter Launched
The MIDC has unveiled a new and improved website with interactive features, current business leads, and a completely new look. Our new bi-monthly eNewsletter will keep you up-to-date on all the latest MIDC and Maryland/Israel business and economic news as well as upcoming Maryland and Israeli conferences and trade events. Check it out at www.marylandisrael.org.

WorldÃs Largest Biotech Conference
Coming to Maryland Area
BIO, the leading trade organization for the biotech industry, has designated the Maryland/Israel Development Center as its liaison to the Israeli biotech community for its 2003 conference. The conference is the worldÃs largest gathering of biotech professionals, expected to draw over 20,000 visitors this year. It will be held on June 22-25, 2003 in Washington DC, right next door to MarylandÃs biotech corridor, where NIH, FDA, and over 300 biotech companies are located. The state of Maryland, as the host community, and the MIDC are offering a special package of services to Israeli participants, including a networking reception with MarylandÃs biotech companies, personal Ã¬ambassadorsÃ® to introduce the Israelis to their US counterparts, and special tours and activities that will expand their opportunities to meet potential partners. For more information or to register, please visit BIOÃs 2003 Conference website; for local support, please contact the MIDC office.

New Program for Entrepreneurs Launched
Hanan Sibel, MIDC chairman, recently announced the creation of the MarketReach America, to address the new challenges of political and economic uncertainty in Israel. The initiative will help Israeli entrepreneurs overcome obstacles in US-Israel business dealings by combining a progression of in-depth business support services with training on American business culture. Over a 3-6 month period, the program will guide the entrepreneurs through targeted market research and business strategy development, leading to access to the MIDCÃs instant US infrastructure and network. The program culminates with introductions to potential American partners, customers and investors. For more details on the MarketReach America, visit www.MarylandIsrael.org.

MIDC Teams Up With Fulbright Scholars Program
International scientific collaboration will receive a major boost with the initiation of a new fellowship program supporting the exchange of researchers between Israel and Maryland. The Maryland/Israel Development Center (MIDC) and United States-Israel Educational Foundation (USIEF) of the Fulbright Scholars Program are establishing the Fulbright-Maryland/Israel Development Center Fellowship Program to jointly fund the exchange of Maryland and Israeli scientists in the natural sciences, including biotechnology. Two fellowships will be awarded. The first will enable a U.S. citizen, working as a member of the senior research staff of a university, or public or private non-profit research institution located in the State of Maryland, to conduct research for a full academic year at an Israeli institution. The second fellowship will bring an Israeli post-doctoral researcher to a research institution in Maryland for a yearÃs work. In addition to their research duties, participating scientists will serve as ambassadors to their host community. Through public speaking, private business meetings, and writing articles, the Fulbright-MIDC scholars will promote additional joint research, increased business activity, and good will and mutual understanding between Israel and Maryland. Qualified scientists wishing to apply for a fellowship will find the full program statement at the USIEF website.

Business and Technology News

IsraelÃs Credit Rating Holds Steady. MoodyÃs and Fitch announced that IsraelÃs rating will remain stable in the short term based on IsraelÃs actions to reduce its deficit. The ongoing instability in the region, however, does not rule out a downgrade in the future. Source: Globes
MarylandÃs New Governor a Strong Proponent of Technology. Recently-elected Maryland Governor Robert S. Ehrlich is already taking steps to make Maryland friendlier to technology companies, including a new $8.9 million allowance in the budget for major technology programs and $46 million towards the expansion of the Center for Advanced Research in Biotechnology, a research and training facility in Rockville, Maryland.
Science Lauds Israeli Scientists. Science magazine has declared Weizmann Institute researchersÃ discovery of the supermassive black hole in the center of our galaxy as one of the top ten scientific discoveries of 2002. The researchers collaborated with several institutions in France and Germany.
Israeli and Maryland Investors Support Maryland Biotech. The Israel Infinity Fund and Maryland investors New Enterprise Associates and MedImmune Ventures participated in IOMAI CorporationÃs recent $54 million round of financing. IOMAI, a Gaithersburg, Maryland biotechnology company, develops vaccinations delivered through a skin patch. Source: Globes

Facts & Figures

According to the Bank of Israel, the State of the Economy Index fell 4% in 2002, hitting a seven-year low. The IndexÃs developments in recent months indicate that IsraelÃs recession is continuing.
Israel ranks third per capita among foreign countries successfully filing for patents in the US. With 4,056 patents granted to Israelis by the US Patent and Trademark office between 1997 and 2001, the country is behind only Russia and South Korea.
Maryland ranks first among states for growth in venture capital investment over the past five years. Venture capital invested in Maryland grew at a compound annual rate of 58.9 percent between 1996 and 2001, indicating Ã¬considerable growth and promiseÃ® for Maryland in the new economy. Source: National Venture Capital Association
Maryland is one of the ten states selected as a 2001 Honor Roll State by the Corporation for Enterprise Development in its annual Development Report Card for the States. The Report Card assesses each state's economy and potential for future growth. Maryland received AÃs in two major categories, performance and development capacity. Source: Corporation for Enterprise Development

Upcoming Events

April 29-30, 2003
BIO-IT Partnering: Catalysts for Growth
Tysons Corner, Virginia
The annual conference of the BIO-IT Coalition, a Maryland-region non-profit promoting the bioinformatics industry, features partnering exercises, networking opportunities, and sessions focused on building and using strategic alliances. For more information or to register, please contact Barry Bogage at bbogage@marylandisrael.org
or 410-767-0681.

May 13-15, 2003
IsraelÃs Bio-Tech Conference Ã± Tel Aviv
Drawing over 4,500 visitors and more than 140 exhibitors, this conference and exhibition connects scientists, entrepreneurs and business people from Israel and beyond to discuss all facets of the biotechnology industry. Visit the Bio-Tech Israel website for more details.

June 22-25, 2003
BIO 2003 - International Biotech Conference and Exhibition
Washington, DC
Sponsored by the Biotechnology Industry Organization, the conference is the worldÃs largest gathering of biotech professionals, expected to draw over 20,000 visitors this year. Check out the website for more information.

September 15-18, 2003
Agritech Israel Ã± Tel Aviv
Agritech Israel is regarded as one of the most important agricultural exhibitions in the world. Past exhibitions have drawn as many as 65,000 visitors interested in all facets of agricultural science and industry. To find out more, go to the eventÃs official website