February Edition 2022

24 “There are many public R&D programs that Israeli companies can get access to if they are present inDenmark.There are huge sums available, especially in fields such as climate tech. Also, Danes don’t believe in bureaucracy and hierarchies. One of the best things about Denmark is if youwant to set up a sister company, there is no bureaucracy here at all. Everything is more seamless, digitized, and runs more smoothly. There is no time wasted on administration and it is a far more well-oiled machine here. That is definitely a plus!” “We see a number of Israeli VCs looking at Denmark, to do joint funds or invest in Danish climate tech start-ups. This is presently one of the key areas where the money is. There is movement in the VC community here that wants to see more investment in that field and Denmark is a superpower in green and cleantech.” The value of Norway’s exports to Israel has increased over the years. 70%of the salmon and 30% of all imported fish comes from Norway, while Israel is exporting technology, vegetables, and fruits to Norway. “It is a statedpriority by the Norwegian Government to increase cooperation with Israel, within trade, science, tech, innovation and development,” says Siren Skalstad Ellensen, partner at DLA Piper in Oslo. “The Norwegian Pension Fund Global, Norway’s sovereign wealth fund, has invested NOK 11.9 billion (appx. USD 1.3 billion) in shares (84 companies) in Israel, and an additional NOK 1 billion is invested in fixed income (as per early 2020). These are the fund’s largest investments in the Middle East region,” she adds. “Both Norway and Israel are considered as innovative countries with financial stabilityandinvestingmuchinAI/technology/innovations,includinghavingafocus on venture and entrepreneur companies within tech and creative segments. In particular, the tech and R&D environment in Norway, including telecom, biotech, maritime and cleantech have attracted Israeli investors/entrepreneurs. Also, Norway holds natural recourses within renewable energy sources (cleantech solutions) and themaritime sector (fish, fish oil, krill etc). In Norway the political focus is as of date on development of new legislation to meet new industries such as offshore wind (transition from O&G segment to Norway’s priority is to increase cooperation with Israel There are huge sums available, especially in fields such as climate tech A number of Israeli VCs are looking at Denmark – a superpower in green and cleantech

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