(Communicated by the President's Office)

The President of the State of Israel, Shimon Peres, met this morning with a senior delegation from Facebook, led by Nicola Mendelsohn, Vice President for Europe, the Middle East and Africa, after the company purchased Israeli Start-Up Onavo for around 150-200 million dollars, and announced the creation of a research and development center in Israel.

President Peres began the meeting by congratulating Facebook and said, "I thank Facebook for its significant investment and call upon the company to continue to invest in Israeli companies. The creation of a Facebook research and development center in Israel will contribute significantly to Facebook - the lack of natural resources in Israel led to the development of great minds instead which built Israel's successful high-tech sector. Your investment in Israel is just the beginning. Israeli Start-Ups have huge potential to contribute to international innovation and to Facebook."
 
Facebook Vice President, Nicola Mendelsohn, told President Peres that Facebook has great respect for Israel's high-tech and innovation sector and see significant potential within it. She added that the decision was a major one for Facebook – to open the first R&D center outside of the United States and that Facebook was proud that it will be in Israel. Mendelsohn asked to hear from President Peres about Israel's support for entrepreneurship and asked how other countries could follow Israel's example. President Peres responded with a smile that the greatest qualities Israel has our the chutzpah and dissatisfaction of its people which encourage creative thinking and a constant desire to improve.