The Victorian Government has opened a new trade office in Tel Aviv, Israel – the 22nd Victorian Government Trade and Investment office – to drive new investment and exchange opportunities between Victoria and Israel.

The new office – the only Australian state government trade and investment office in Israel – will see Victoria expand its representation in Israel, with Victoria’s Commissioner to Europe Ken Ryan increasing the time he will spend there. The Office will be staffed by a team charged with creating more opportunities for Victorian and Israeli businesses, individuals and communities. It will also include a fulltime Biomedical Director to increase the medical research and commercialisation collaboration that is occurring between Victoria and Israel. The Israel-Australia Chamber of Commerce has been engaged to assist in driving trade and investment opportunities.

Premier Daniel Andrews made the announcement at an event in Tel Aviv attended by around 100 people from Israel’s business community  – who are looking for opportunities to partner with and invest in Victoria.

As part of Victoria’s increased presence in Israel, a new dedicated Biomedical Innovation and Commercialisation Exchange program will be established to drive medical technology research, engagement and exchange. With Israel’s reputation as a leader in commercialisation, the new Biomedical Director will focus on translating Victoria’s world-class medical research into commercial opportunities, creating jobs and growth. This will be complemented by the appointment of a dedicated Liaison Officer to be based in the Melbourne Biomedical Precinct, who will connect Israeli organisations with Victoria’s world-leading biomedical sector. The first two Exchange initiatives include:

  • The Baker Institute partnering with Sheba Medical Centre to undertake ground-breaking early studies on protecting the heart from arrhythmias, paving the way for the development of new drugs to prevent and treat heart beat irregularities
  • New pioneering collaboration between the Florey Institute of Neuroscience and the Hadassah Medical Centre to explore the link between iron levels and schizophrenia

Melbourne’s world renowned medical research sector is home to more than 650 medical technology, pharmaceutical and biotechnology businesses, and generates more than $12 billion in revenue each year.