Israel - A technical Hub to reduce Global Oil Dependence
Israel - A technical Hub
Since 2009, the Israeli Institute for Economic Planning initiated and then worked towards shaping Israel as a global hub for Oil Alternatives, by promoting competitive technological solutions that reduce the strategic value of oil.
In January 2011 our efforts came to fruition when the government resolution - led by the National Economic Council in 2010 - was adopted as government decision, incorporating the Institute's research findings and recommendations. "The National Plan to Develop Technologies that reduce the Global Use of Oil" was assigned a budget of NIS 1.5 billion to assure continuity over the next decade.
Shortly following the government decision, the Institute released its study “Encouraging the Development of Oil Alternatives”. This study - which details the key strategic and financial requirements for Israel to become a global hub for Oil Alternative Technologies- is of key relevance to the NIS 400 million and NIS 313 million that will be distributed to support Industrial R&D and Applied Research, respectively.
Our work in this area was and is motivated by security related concerns in addition to the profound economic opportunity that the Oil Alternatives Industry offers.
The Institute has continued to be active in a number of ways;
- Maintaining and strengthening the work we initiated in 2009 which involves identifying, interviewing and engaging with Oil Alternatives Companies and projects and industry figures. Our "IEP Database of Oil Alternative Companies" is periodically distributed and we continue to engage with key players in industry, academia and finance.
- A selection of our other events include
- May 2011 - we partnered with the Ministry of Infrastructure and to hold a seminar that focused on the use of natural gas in Israel for transportation
- June 2011 - a series of meetings between a key industrial figure overseas and high level members of government and industry to explore international perspectives
- 2010 and 2012 - engagement with start-up companies, engineering of an innovative financial model to accurately project fiscal needs of technology start-up industries and identify fundamental shortages in funding.
- February 2012 - partnered with Matimop to bring a special workshop at the Eilat Eilot Forum
The Institute looks forward to combining its expertise in Oil Alternatives with partners in the fields of technology, finance and industry in the years ahead