UK-Israel Trade
Debate between Stephen Crabb and Chris Green(5 years, 10 months ago)
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Chris Green
Those are incredible statistics and they show the innovative and entrepreneurial nature that so many Israelis have and the culture that the wider society embraces. As I mentioned and as has been highlighted, Israel is renowned as the start-up nation—a true high-tech start-up powerhouse. Israel is widely viewed as a desert country with few natural resources, which is perhaps one of the drivers behind that, although there have been discoveries of natural gas off the coast. Despite the geographical challenges and some security threats, an enormous number of innovations and inventions have emerged from the country. Israel has gone from being a desert to the land of milk and honey, and now the land of Apple and Microsoft. Indeed, most of the world’s leading tech companies now have a research and development presence in the country, which is testament to the character and qualities of the people, which my hon. Friend highlighted.
The country’s prowess in the fields of high-tech, energy, medical science and FinTech is in large part due to the need to adapt as challenges arise.
Stephen Crabb (Preseli Pembrokeshire) (Con)
My hon. Friend is making an extremely important point. Does he agree that the extraordinary levels of inward investment into Israel by high-end, high-value companies in the tech space and pharmaceutical space demonstrate that when British companies do business with Israel they are plugging themselves into some of the highest-value sectors of the global economy, which is exactly what we need to do to make Brexit a success?
Chris Green
I agree entirely; my right hon. Friend is absolutely right. That highlights the connectivity and relationships that underpin so much of high tech, culture and the arts.
The necessity of adapting and developing solutions to the challenges Israel faces is a key part of its impressive start-up ecosystem. The culture of entrepreneurship and striving to achieve is reflected in the fact that there have been 12 Israeli Nobel prize winners in the fields of peace, literature, physics, chemistry, medicines and economics; I think that is a 100% record across all the different fields in which they could achieve Nobel recognition. Israelis will be the first to tell you that the Israeli autonomous driving company Mobileye was sold to Intel for a remarkable £12.5 billion and is just one of many success stories, including Waze, the USB storage device and internet firewalls.
As we debate here, dozens of Israeli scale-up founders are in London sharing their experience as part of Innovate Israel 2018. The event, co-ordinated by UK Israel Business, has become a major event in the UK high-tech calendar and is another example of how British and Israeli businesspeople work together every day.
Israel’s cultural exports are no less significant. Netta famously captured the hearts of a continent this year when she won the Eurovision song contest. Hers was an amazing performance that delighted all those who watched it on the evening and on YouTube or other sources afterwards.