Calgary, Alberta, June 07, 2023 (GLOBE NEWSWIRE) -- Invest Alberta, the Calgary Chamber of Commerce, and Calgary Economic Development are working together to access previously untapped opportunities to create networks, exchange ideas, and drive innovation with venture capitalists and Israeli companies.

A key milestone of an economic development outreach trip to Israel this week is a memorandum of understanding (MOU) signed between Invest Alberta, the Calgary Chamber of Commerce, the Federation of Israeli Chambers of Commerce, and the Israel-Canada Chamber of Commerce to develop an Israel-Alberta centre of excellence. The centre of excellence will serve as a conduit for Israeli businesses in Alberta and a resource for Alberta companies interested in Israeli business opportunities. Each signing party is committed to supporting incoming businesses, whether it is with trade, foreign direct investment, or research collaboration.

Assisted by the Consul General of Israel in Toronto and Western Canada, Invest Alberta, the Calgary Chamber of Commerce, the Federation of Israeli Chambers of Chambers, and the Israel-Canada Chamber of Commerce are collaborating to design a plan for the centre of excellence that will elevate each region’s standing as global innovation hubs.  

Partners will promote each market as premier destinations for investment and expansion to encourage investment between Alberta and Israel and stimulate high-quality job creation and economic growth.

As the convenor and catalyst for Calgary’s business community, the Calgary Chamber of Commerce works to position Calgary – and Alberta as a magnet for talent, diversification and opportunity. Alberta is already an established leader in energy, agriculture, transportation, forestry, tourism, healthcare, and technology, and this partnership will further advance the opportunities available to businesses. As an independent, non-profit and non-partisan organization, the Calgary Chamber serves businesses of all sizes and in all sectors by advocating for and advancing a competitive business-friendly environment in Alberta.

The Federation of Israeli Chambers of Commerce is the largest business organization in Israel, supporting more than 5000 businesses. The Israel-Canada Chamber of Commerce is a non-profit organization that promotes business ties with Canada in areas brimming with innovation, such as technological agriculture, artificial intelligence, biotechnology, medical systems, and fintech.

Known as the “Startup Nation” for the support Israel provides entrepreneurs and research centres for powerhouses such as Amazon and Facebook, the country has the potential to be instrumental in helping Alberta meet its goals – including decarbonizing the energy sector.

Alberta is an ideal partner and investment destination for companies in countries like Israel that have a strong focus on innovation due to the strong, stable market and tech leadership across multiple sectors – including cleantech, pharmatech, agri-tech, and more. 

QUOTES

“This agreement further promotes Calgary and Alberta in international markets, as jurisdictions that are creative, competitive and entrepreneurial. It opens the door for new collaborations with leading companies and startups that leverage our natural resources and talent in ways that will support economic growth and diversification, as well as open new markets to the benefit of all Albertans. This partnership promotes Alberta’s identity as a diverse, opportunity-rich and future-focused region, attracting investment and talent from national and international jurisdictions.” - Deborah Yedlin, President & CEO, Calgary Chamber of Commerce 

“This agreement between the Federation of the Israeli Chamber of Commerce, Invest Alberta, the Calgary Chamber of Commerce and the Israel-Canada Chamber of Commerce is the fruit of hard labour and a joint vision of collaboration between Alberta and Israel. I am especially happy to be signing this agreement with the 156th Canada Day coming up next month. This is a reminder of our two country's close friendship and strong ties that are only made better and stronger through our many business partnerships. Together we will make sure Israeli and Canadian companies will be supported and helped in their respective markets, I am looking forward to beginning this collaboration and to many more years of joint work that will undoubtedly be the outcome of this agreement.” - Uriel Lynn, President, Federation of Israeli Chambers of Commerce 

“We believe that our main goal is to connect people and businesses from Canada and Israel in order to fulfil the huge potential of Israeli-Canadian bilateral and international markets. This cooperation agreement between the Federation of the Israeli Chamber of Commerce, Invest Alberta, the Calgary Chamber of Commerce, and the Israel-Canada Chamber of Commerce, is a significant and important step towards achieving this goal, and we welcome it.” - Ilanit Mutznik, Israel Canada Chamber of Commerce

"Alberta-Israel innovation and tech cooperation, reinforced by the signing of the MOU, holds immense potential for economic growth, technology transfer, and mutually beneficial collaborations. Collaboration between Alberta and Israel has the potential to create innovative solutions that can address global challenges. Joint projects can result in technologies that benefit not only the two regions but also have applications worldwide, leading to commercial opportunities and positive societal impact."  - Roi Dvir, Director of Innovation, Entrepreneurship and Technology Department at the Ministry of Foreign Affairs of Israel

“Israel is an example for the world when it comes to technological innovation, collaboration and entrepreneurial spirit. I am excited about the opportunity to share Calgary and Alberta’s unique value proposition with Israeli companies and investors to uncover opportunities for shared value between the regions for years to come.” - Brad Parry, President & CEO, Calgary Economic Development

“Team Alberta’s commitment to collaboration, innovation, and achieving results shines once again as we establish the Israel-Alberta centre of excellence. The centre of excellence will contribute to economic growth and job creation in both regions. This partnership follows in the footsteps of our successful collaborations in both Ireland and India which brought Global Shares and nasscom to Alberta, furthering our status as the premier region for supporting innovation.” - Rick Christiaanse, CEO, Invest Alberta 

About Invest Alberta:    

Invest Alberta engages the world and provides high-end tailored support to companies, investors, and major new projects. With team members strategically positioned in key markets around the world, Invest Alberta works to break down barriers so businesses can start up, scale up, and succeed without limits. Since 2020, Invest Alberta has supported the commitment of nearly $20 billion in investment that created more than 25,000 new high-value jobs for Albertans. For more information, please visit investalberta.ca.  

About the Calgary Chamber: 

The Calgary Chamber exists to help businesses thrive. As the convenor and catalyst for a vibrant, inclusive, and prosperous business community, the Chamber works to build strength and resilience among its members and position Calgary as a magnet for talent, diversification, and opportunity. As an independent, non-profit, non-partisan organization, we build on our 131-year history to serve and advocate for businesses of all sizes, in all sectors and across the city. For more information, please visit calgarychamber.com. 

Invest Alberta
1 403 861 9968
communications@investalberta.ca

Calgary Chamber of Commerce 
1403 750 0414
media@calgarychamber.com