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28 OVERVIEW OF ISRAEL’S HIGH-TECH INDUSTRY Capital Raised by Israeli Hi-Tech Companies by Stage (%), 2001-2010 80 60 40 20 0 3.6. THE BIOTECHNOLOGY INDUSTRY IN ISRAEL Modern science utilizes biological information accumulated over 150 years - mainly the genetic code and DNA structure decoded approximately 50 years ago. The biotechnology business environment has evolved as a result of the breakthrough in genome development over the past years. The information accumulated in the genome project, in which whole platforms of the human genome were discovered, has created new opportunities for many start-up companies. The assumption is that Israel’s fast and cost-effective development cycle is the key advantage relative to United States counterparts, attracting investment funds from various parts of the world. Total investment in the life science companies during 2010 amounted to $350 million, reflecting an increase of 10% compared to 2009. The following graph illustrates the capital raised by the life science industry over the past seven years: BDO Israel
BDO Israel DOING BUSINESS IN ISRAEL Capital Raised by Israeli Life Science Companies ($M), 2004-2010 88 86 0 0 A major sub-branch of biotechnology is the medical device field. This sector in 2010 drew 62% of the aggregate capital raised for the industry - marking a 4% decline of its share compared with the previous year. A notable increase in 2010 occurred in the pharmaceuticals sub-sector, responsible for 31% of the total capital raised for the sector, compared with 13% in 2009. The Israeli government has encouraged investments in this sector, by initiating plans to establish incubators dedicated to bio-technological development. The following graphs show the capital raised by the Israeli life science industry and the dominance of medical device companies vis-a-vis other sectors over the past three years: Capital Raised by Israeli Life Science Companies (%), 2008-2010 4% 8% 8% 3% 6% 96 The following graph shows the capital raised by the Israeli life science industry divided into sub-sectors over the past ten years: 80 80 60 40 20 29
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Page 60 and 61: 5.5. PROPRIETARY RIGHTS 58 BUSINESS
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106 TAXATION Under the recent tax r
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108 TAXATION (d) More than 50% of o
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110 TAXATION 8.2.2.6. Dividends Rec
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112 TAXATION (3) Location of fixed
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114 8.2.3.4. Rental Income from Out
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116 TAXATION "Accommodating Year”
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118 TAXATION "Privileged Securities
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120 TAXATION 8.2.4.3. Tax exemption
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8.3.4. Sale of Stocks 122 TAXATION
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8.5. TAXATION OF TRUSTS 128 TAXATIO
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8.6.1. Definitions: 130 ♦ Israeli
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8.8.6. Real Estate Companies 134 TA
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8.10. TAX TREATIES 136 TAXATION As
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138 Dividends % Interest % TAXATION
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140 FOREIGN EXCHANGE CONTROL AND PR
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10.3. ISRAEL LAND ADMINISTRATION OF
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11.2. KEY FIGURES FOR DECEMBER 31,
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Example A NIS Example B NIS APPENDI
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APPENDIX 2 Industrial enterprises m
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Ministry of Justice 29 Tsalch Adin
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Israel - US Binational Industrial R
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BRAZIL Embassy of Israel S.E.S Av.
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ECUADOR Embassy of Israel Av. La Co
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IVORY COAST (COTE D’IVOIRE) Embas
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