While exporting business opportunities to Israel still exist, Virginia companies can get involved with even larger prospects by partnering with new emerging technologies that are sometimes hidden within Israel’s technology crevices. In fact, Israel is a gold mine of new technologies. But the questions lie: Where are these opportunities? How do we go about finding them? How can I evaluate their impact on my business? Are these really significant opportunities? The best way is to answer these questions is through an example…

ICQ was the first Instant Messenger service that quickly became one of the most important killer apps in the Internet marketplace. Actually, it’s such an interesting story that we’ve contacted Yossi Vardi, the inspiration behind the product and deal with AOL. A detailed account of the product from concept inception to its integration into AOL and what it meant to AOL can be read in this newsletter.

To supplement the ICQ profile, the VIAB has determined three key trends that have become apparent over the past several years: 1) Israel’s technology development and initiatives began out of necessity; 2) Israelis generally lack marketing initiatives; and 3) having a U.S. presence is crucial for Israeli companies to grow internationally.

Let’s take a closer look at the meaning behind the first trend and the reasons behind it…

One of the training grounds for Israel’s brightest individuals is the country’s military "Talpiot" program. Only the most elite high school students can apply and the chance to participate is slim as Talpiot accepts only 30 applicants – or one in ten each year. The program’s selection process doesn’t take into account qualitative traits like creativity and leadership, but rather focuses on measurable qualities such as aptitude in math and science, along with success in rigorous standardized exams.

As David Rosenberg explained in Red Herring, "The tight schedule [of Talpiot training] and emphasis on practicality mean that soldiers begin work on real-world assignments almost immediately. Before they've gotten much beyond cracking open a textbook, trainees are already helping to identify problems in the field and devise solutions, making do with limited time and resources. The best soldiers, by their early 20s, are overseeing important projects, often working with private-sector defense contractors. This is where the chief attributes of the Israeli startup are learned -- the cowboy attitude, the dedication to one's team members, and the pursuit of perfection."

While many of the Talpiot participants continue their formal education while in the Army, others are too busy inventing…

While the program continues to produce military leaders, many of the Talpiot graduates adapt their concepts to the consumer and commercial markets once they leave the Army. This sets the stage for unique developments that have come out of Israel ranging from the first medical laser to telecom innovations. Many companies originating in Israel such as Comverse, Check Point, Amdocs, and Biotechnology General (BTG), are among the 100 Nasdaq companies and have originated in Israel.

While Israel’s technology truly did begin out of necessity, it is trend numbers two and three that offer real opportunities for Virginia companies. And that is what will be addressed at the VITAL Business Development Summit that will be held in Roanoke, Virginia this August. VITAL stands for "Virginia Israel Tech Alliance", a comprehensive program launched by the Virginia Tech Corporate Research Center and Virginia-Israel Advisory Board and dedicated to commercializing Israeli technology in the U.S.

On August 20, experts from Israel and the U.S. who have successfully commercialized Israeli technology will speak to attendees on a practical level. They’ll answer questions such as, How can my company benefit from partnering with Israeli companies? How can I identify new business opportunities? Who can help me evaluate them? What kind of funding is available for joint research projects? Who can help me get to the next step?

So who should attend the VITAL Business Development Summit at Virginia Tech? Any Virginia company including manufacturers and technology-based companies that either use high tech solutions as part of their business and/or are looking for new opportunities to integrate into their core business, are welcome to participate. In addition to the knowledgeable speakers, there will be plenty of time to meet and discuss specific challenges and opportunities that will help grow your business.

My strongest recommendation to Virginia companies: Don’t miss the opportunities that will be presented at the VITAL workshop on Aug. 20.