An Israeli high-tech delegation led by Jerusalem Venture Partners (JVP), founder and president, Erel Margalit, visited Paris at the end of last month to meet with senior senior innovation officials and leaders of French banking and financial institutions to discuss the expansion of JVP’s portfolio companies in Europe, as well as the establishment of the Margalit Startup City Innovation Center in Paris.
The trip to Paris follows a preliminary visit by Margalit in May to discuss the creation of a Margalit Startup City Paris innovation center. Margalit met with French officials such as French Finance Minister Bruno Le Maire to discuss establishing a global innovation center in the city based on the model established by Margalit in Jerusalem and New York.
The delegation, made up of 12 CEOs and executives from JVP senior portfolio companies such as Earnix, AnyClip, ThetaRay, Secret Double Octopus, Morphisec, among others, met with those responsible for innovation at the Elysee Palace, the Ministry of Digital Affairs , and the Municipality of Paris.
The delegation began the visit to the Elysee Palace by meeting with President Emmanuel Macron’s senior Economics Unit, headed by Alexis Zajdenweber, who leads the president’s efforts in the field of Innovation. The meeting featured a detailed presentation of each of the companies, their areas of activity and expansion plans in Europe.
Zajdenweber emphasized that France is very interested in advancing the global dimension of high-tech innovation and turning France into an international center of innovation, similar to the Israeli “Startup Nation” model. His plan is to make France not just a country that nurtures startups, but a global giant that produces unicorns, according to a JVP statement.
The delegation also met with Pénélope Komitès, the deputy mayor of Paris, to affirm the mission of the Paris municipality to promote cooperation with Israel in technology fields such as food technology and agriculture.
Komitès and Margalit also discussed ongoing efforts to establish Paris as a hub for innovation. for startups around the world. The two agreed to organize a visit by the mayor of Paris to Israel starting in the winter of 2021 to get acquainted with Israel’s local tech ecosystem.
“The visit of the Israeli delegation, along with companies representing the forefront of Israeli technology, has generated a lot of interest,” said Margalit, “Thirty to 40 percent of the revenues of most companies here are in Europe. . With the changes in London, they are looking for a new European base. In France, Israeli innovation is seen as a model and there is a strong will to invest in it and allow Israeli companies to seamlessly enter Paris. “
The innovation center will initially house 30 Israeli companies, Margalit said. There are currently 650 Israeli startups in New York and France’s goal is to become the hub of activity in Europe, with 350 Israeli startups located there over the next three to four years.
In addition to meetings with government officials, the Israeli delegation held meetings with major investment agencies, heads of the financial system, leading local corporations and high-level economic entities, including the Global Banking Group, BNP Paribas, whose international headquarters are located in Paris, Rothschild Bank. , Credit Agricole and other business entities.
“We want to help you establish the Innovation Center in Paris. I discussed his initiative with a couple of Paris CEOs of insurance companies, great asset managers, and everyone was very excited. In addition to what I would get from the official support of the government, the agencies and BNP Paribas, I am sure that we can bring to this fantastic company many of the great players from the financial and non-financial world ”, Alain Paipasse, President of Corporate and Institutional Banking of BNP Paribas and president of Exane, said in a personal address to Erel Margalit.