(Israel Ministry of Finance)

The Israeli Chairmanship of EUREKA, the largest pan-European network for market-oriented, industrial R&D and innovation, released new survey data that shows a definitive link between participation in EUREKA programs and considerable growth in sales and employment.

Conducted by Kalman Gayer and the economic and strategic consulting firm Applied Economics Ltd., the study was released to mark the completion of Israel's one-year chairmanship term of EUREKA and EUREKA's 25th anniversary.

The study compared the financial results of companies which participated in cooperative projects through EUREKA to similar companies which did not, among a representative sample of 350 Israeli and European companies. On average, companies participating in EUREKA recorded sales and employment that were 28% higher than companies which were not participating. The 28% gap was annually during the three years from the completion of the project. The study shows that the total annual increase in sales and employment among companies participating in EUREKA projects is approximately 2.8 billion euro, in addition to 25,000 jobs created each year.

About EUREKA and the Israeli Chairmanship:

Founded in 1985, the EUREKA network seeks to promote international, market-oriented research and innovation through the support it offers to small and medium-sized enterprises, large industry, universities and research institutes. Israel’s EUREKA chairmanship for 2010-2011 was implemented by MATIMOP, the Israel Industry Center for Research and Development, acting on behalf of the Office of the Chief Scientist in the Ministry of Industry Trade and Labor. Throughout the Israeli Chairmanship year, over 220 cooperative R&D projects were approved, totaling more than 300 million euros of private and public investment. Israel is only one of 40 member countries in EUREKA but represents over one-quarter of the overall number of projects approved during the past year.