As part of the events marking 50 years of Israeli-German diplomatic relations, the Germany-Israel Innovation Day was held in Tel Aviv on June 29, 2015. Organized by the German Ministry of Economic Affairs, the Israeli Ministry of Economic Affairs, and by the Israel Trade Center in Berlin, it provided a platform for the exchange of ideas, to further develop working relationships in the areas of sustainability, the life sciences and ICT.

During the Germany-Israel Innovation Day 2015, 25 senior spokespeople from both countries took part in four panels on digital media, cyber-security, life sciences and smart transportation. Among the participants in the event were CEOs and senior officials from leading German firms such as Merck, Deutsche Telecom, Deutsche Bank, SAP, Bosch, BMW and others, alongside senior officials from the Israeli industry, like Chief Scientist at the Israeli Ministry of Economy Avi Hasson, hi-tech entrepreneur Yossi Vardi and hi-tech entrepreneur and former Chief Scientist Orna Berry. The day included workshops, dynamic lectures and networking meetings between Israeli and German companies.

Economy Minister Aryeh Deri: "The economic relations between Israel and Germany are significant and stand on a solid foundation of partnership and mutual responsibility. As Minister of Economy, I have a duty of preserving strengthening and expanding these relations. The governments of Germany and Israel operate a wide range of programs for cooperation on research and development, in an effort to promote industrial and technological developments by uniting capabilities and knowledge shared between researchers and entrepreneurs from both countries [...] in a manner that allows Israeli and German companies to develop new products and services, jointly and with support from both governments.

The Ministry of Economy under my leadership works hard to promote the economic relations and trade ties with Germany, through the Office of the Chief Scientist, the Professional Training Department, the Authority for Industrial Cooperation and the Foreign Trade Administration, which operates two trade missions in Germany - in Berlin and in Munich - with their professional staffs specializing in the German market. The Ministry of Economy's trade missions in Germany are at your service, and are ready to assist you in any way necessary."
 
Brigitte Zypries, Germany's Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Energy: "The Germany-Israel Innovation Day is a unique opportunity to focus on future-looking industries. We must work together to nurture and to promote innovative businesses in both our countries and to maximize our shared advantage. Some German companies like SAP, Merck and Deutsche Telecom have already begun harnessing the strong points of Israeli hi-tech to their advantage. And still, I wholeheartedly believe there is much more potential for developing new and different types of cooperation. This is why we want to use today's Germany-Israel Innovation Day as a springboard to the future. We intend to focus on cooperation in the fields of information technology and communications, life sciences, health and cyber-security.

In the field of startups and entrepreneurship, Germany and Israel can complete one another and build cooperation on a foundation of advanced science and first-rate technological capabilities. Startups from Tel Aviv and Israel in general are welcome to take part in the EXIST program, which supports projects from early stages of development and offers grants in all stages from idea to actual launching. In early 2015, the program was upgraded and today offers beneficial funding conditions with no competition. For the first time - the program is going international and will offer Israeli entrepreneurs access to various funding possibilities available in Germany."
 
According to the Foreign Trade Administration at the Israeli Ministry of Economy, Germany is Israel's third largest trade partner. Israel and the EU enjoy a free trade agreement and Germany and Israel signed an agreement to prevent double taxation. According to 2014 trade data, Israel imported German goods and services worth $4.91 billion (a 7% increase over 2013). Israeli exports to Germany in 2014 stood at $1.71 billion (similar to 2013).