Archives for July 2024

The MIDC thanks Natalie Gutman Chen for her outstanding service as Minister of Trade and Economic Affairs, Embassy of Israel in Washington DC. Natalie has also served as an MIDC Board member during her three-year term at the Embassy of Israel. Read more about her accomplishments during her tenure.

The Economic and Trade Mission at the Embassy of Israel in D.C. mission is to promote and facilitate trade and investment between Israel and the United States, and to enhance bilateral commercial relations.

Here are some highlights of Natalie’s term and some of her major achievements.

She led a long-term collaboration process on water solutions with the U.S. Environment Protection Agency, incorporating Israeli companies alongside academia and relevant government agencies to bring Israeli technology into the U.S market. 

Natalie also initiated a process for collaboration on semiconductors between innovation agencies in Israel and the U.S Administration.

Additionally, she led activities to promote collaborations in the health sector to deepen the penetration of Israeli life science companies into the American market, specifically focusing on health equity.

Natalie was a frequent speaker on MIDC webinar, panels as well as community events in Washington, D.C., Montgomery, Howard and Baltimore Counties.

Prior to her position as Minister for Economic & Trade Affairs at Embassy of Israel in Washington, DC, she served as the Director of the International Financing Department in the Foreign Trade Administration, the Economic Attaché in Milan, Italy (2014-2018), Director of Bilateral Trade and Economic Agreements in the Foreign Trade Administration (2011-2014) and Economic Attaché in Brussels for both Israel’s Mission to the EU and the Israeli Embassy in Belgium. 

“We wish Natalie and her family much success as they return to Israel and we know she will continue to do great things for Israel’s trade and innovation worldwide”, stated David Kuntz, Chair, MIDC.

With an enviable business climate and a strong, diversified economic base, Baltimore County is home to over 20,000 established businesses, including eight MIDC companies in the defense, cybersecurity, fleet management, fintech and medical technology industries. The County’s expansive and vibrant economy includes top industries and employers, a competitive transportation network, access to global markets and dynamic partnerships with endless opportunities for economic growth.  

When you’re ready to start, relocate, or expand your business, Baltimore County Government’s Department of Economic and Workforce Development (DEWD) offers a variety of programs and services to encourage investment and foster job creation in the County.

DEWD’s designated Business Development Representatives offer site selection services to identify properties that suit your business needs, and facilitate introductions to property owners, brokers and developers. The team can help explore and navigate financing, funding, tax credit and incentive programs your business is qualified for. These opportunities include the Boost Loan, which provides access to capital for targeted small, minority-, women- and veteran-owned businesses; Enterprise Zone property and income tax credits; and Commercial Revitalization incentives including an interest-free loan for façade improvements and free architectural design services for exterior improvements.

DEWD also provides small and start-up business guidance and education, and Business Services Representatives focus exclusively on helping to recruit, train and retain your team. Baltimore County’s Career Center education and training programs are designed to offer County residents—both youth and adults—an opportunity to advance their education, enhance their training skills and increase their earning potential. Job seeker assistance is also available virtually through the Mobile Career Center or at any of the County’s career centers.

DEWD’s recently launched tourism site, Discover Baltimore County, is filled with insightful tips and recommendations, and businesses are welcome to increase visibility and promote events through the calendar. Join DEWD’s mailing list to receive a business facing newsletter each month with updates on current initiatives and partnership opportunities. For more information on any of the services outlined above, or to connect directly with the DEWD team, email [email protected].

Despite the fact that the geopolitical challenges are affecting, somewhat dramatically, the Israeli economy, somehow as a country we continue to grow and drive success despite the odds.  As a country we are dealing with a very challenging internal struggle which includes too many of our business leaders on the frontlines.

The world as we know it changed, for the worse, on October 7th. Given the frightening circumstances, as a parent of five kids including two who are currently serving in the IDF, I feel more secure in Israel than I do anywhere else.

There are a few phrases, or idioms, that are very commonly used in Israel and describe Israelis to a “T.”

1)          Ein Breira – there is no alternative. We’re here and we’re not going anywhere. We can complain all we want, but no one will help us and complaining will only make us feel worse. So we do what we need to.

2)          “We only do the impossible. The challenging stuff we leave to others.”

3)          As Ben Gurion said, “In Israel, in order to be a realist, you must believe in miracles.”

Our role as business leaders is to maintain and grow our economy. To create new jobs, new opportunities, new technologies. The Israeli Start-up Nation has brought so much good to the world, and our objective is to continue to bring light and goodness to the world. Those of us not on the front lines and working to ensure that those who are fighting for us, have a job and an economy to come home to.

The dedication of Israeli’s is summed up by serial entrepreneur Yizhar Shai, who tragically lost his son on Oct 7, and rededicated to creating a better world.  He famously called for a “moral response” to brutal terror: “Israeli high-tech should take on a mission that for every innocent life lost, for every fallen soldier, for every missing citizen, and for every abducted person; we should establish a startup company,” Shay told Calcalist. “This is a task that can be initiated and executed rapidly. The State of Israel can contribute, but we can manage without it as well. This isn’t merely a contribution; it’s a sound investment. Investors will play their part. The response to this destruction will be the creation of startup companies that will generate hundreds of thousands of jobs, contributing to the workforce and the overall economy. 

And while it is a struggle, every day, there are a lot of positive things happening. In Q1 2024, the Israeli tech ecosystem showcased its stability by amassing $1.8 billion in funding, reflecting an 8.5% increase from Q4 2023. Certainly, dramatically down from 2021 and even 2022, but an improvement nonetheless.

Despite tremendous pressure on many large companies such as Google, Microsoft, Intel  and Nvidia, we are seeing those companies double down on their Israeli forces and investments.

We just passed the two most difficult days on our calendar, which were so much harder this year.  Memorial Day, as we say each year, reminds us of the price we must pay to have our State.  Memorial Day is followed by Israel Independence Day- a day in which we celebrate what we’ve accomplished–and we’ve accomplished a lot in 76 years.  Yet, there’s still a lot to do.

For those of you who don’t know, Israel came in 5th place last week in the Eurovision, which is largely a popularity contest. Interestingly, Israel received the MOST votes from the people of 14 countries! Out of 37 countries that vote. So despite the fact that when we watch the news we see doom and gloom, we still have many friends and much support. 

And that’s my bottom line.  It’s time for those of us in global business to understand that working with Israeli technologies and companies is not only good business, and excellent investments, but also the right thing to do for the future of the world. 

Let’s create together!

Avi Rosenzweig
June 2024

David Kuntz, Chair of the MIDC Board of Directors, announced the nomination of Nina Rosenzwog and Dara Schnee to the MIDC Board of Directors effective July 1, 2024. “Both Nina and Dara are exceptional choices for the MIDC as they both have a tremendous variety of leadership positions in both the Jewish and general communities and we are confident both will bring great energy and insight to MIDC”, stated David Kuntz.

Nina Rosenzwog has dedicated her life to volunteering after a 40-year outstanding professional career as a Baltimore City School Psychologist. Nina has held numerous leadership positions at the Associated Jewish Federation of Baltimore as well as other Jewish organizations. Her first trip to Israel was 28 years ago and as a result Nina understands the economic situation in Israel and the importance of fostering and maintaining strong ties between Israel and Baltimore.   Her leadership service in the Baltimore Jewish Community is significant. Nina was the Co-Chair of the Associated’s Israel & Global committee; Co-Chair of the Baltimore-Ashkelon Partners and Co-Chair of the Baltimore Odessa Partnership. Nina also chaired the Women’s Campaign at the Associated and Women’s Philanthropy. Her Board positions include: the Jewish Community Center Association, Center for Jewish Education, Israel Bonds and Vice-President of the Federation of Jewish Women’s Organization of Maryland. Nina also served as a mentor and counselor for the Girl Empowerment Mission for 15 years.

summer 2024

This year’s Select USA Summit saw 33 incredible Israeli companies traveling to the Washington, DC area. The Summit is a federal government program aimed at promoting foreign direct investment into the United States. MIDC’s Executive Director, David Speer, attended two related programs including the Embassy of Israel’s reception featuring these Israeli companies.

The program included networking as well as hearing from dignitaries including Michael Herzog, Israeli Ambassador to the United States. David left the reception after meeting with many Israeli company representatives and was encouraged to hear that there were the same number of Israeli companies represented this year as there were last year for a similar program. Despite the incredible challenges in the wake of October 7, the Israeli business community continues to innovate and push the boundaries of what is seemingly impossible.

Another program, hosted by The National Cancer Institute (part of the National Institutes of Health), included presentations from 12 of these Israeli companies who had the chance to network with representatives from the National Institutes of Health as well as other federal government representatives. The discussions ranged from funding possibilities for these Israeli companies to finding partners for them in growing their operations in the U.S. Although these companies are all in the health care industry, the breadth and variety of the companies once again showcased Israeli’s strengths as entrepreneurs. It is no surprise that the use of machine learning and artificial intelligence is incredibly important to many of these companies and Israel continues to be a world leader in this space. The MIDC was able to network with the companies’ representatives and explain why Maryland is the best place to do business in the U.S. Having these federal government agencies and partners in our backyard, as well as the assistance of the MIDC, highlights the key advantages of Maryland.

Summer 2024