Last week, the Texas Association of Business (TAB) signed a historic and important Memorandum of Understanding (MoU) with Texas Venture Alliance (TVA) and Israel’s StartUp Nation Central. This agreement not only strengthens economic ties but also opens up new horizons for both regions to explore business opportunities, establish fruitful partnerships, and share a wealth of knowledge. It's a testament to Texas’ unwavering commitment to Israel and a promising step towards mutual growth and prosperity.
Our state’s commitment to maintaining a close relationship with Israel is ironclad – which is especially crucial in the challenging times we find ourselves in today. As institutions in other states seek to isolate Israel on the world stage, Texas leaders – including Governor Greg Abbott, Lieutenant Governor Dan Patrick, Comptroller Glenn Hegar, and our legislative leadership – are actively embracing Israel as a key global partner.
The Texas business community is doing our part by continuing to foster and encourage commercial partnerships with Israel. As the 8th largest economy in the world, Texas offers unique, substantive opportunities to engage in joint ventures with Israeli businesses and encourage their expansion here, united by our shared values and independent spirit.
Israel remains the per-capita leader when it comes to tech formation. Through our MoU, TAB will deepen our ties with Israel’s leading startup-focused organization to bolster venture capital relations and ensure that great startups in Israel are funded and can scale up in Texas.
Last week’s MoU will be instrumental in fulfilling TAB Chairman Massey Villarreal’s vision of bringing together the expertise of business leaders in the ‘Start Up Nation’ and the ‘Scale-up State’:
“As the ‘Scale-up State,’ Texas shares common ground with Israel's innovation economy, making us ideal partners for the continued support for and success of Israel's ‘Start Up Nation.
"In times of war, it is crucial to build bridges, fostering partnerships that transcend borders. Texas and Israel, with their shared values and determination, exemplify the strength that comes from unity. I am committed as chairman of the state chamber to ensure TAB develops a permanent effort to deepen the relationship between our close friend and ally, Israel.”
The latest agreement announced last week is just the beginning. Thanks to our state’s outstanding pro-business leadership and policies, Texas’ business climate is “incredibly welcoming,” according to Israel’s Economic Minister to the Southwest, Orna Avraham. We are proud to extend the connections, partnerships, and resources we can offer to help elevate Israeli businesses in Texas, and to work hand-in-hand with StartUp Nation Central to leverage innovation as a diplomatic resource that drives economic prosperity.
The technology industry, in particular, greatly enhances Texas’ business climate, and our partnerships with Israeli tech companies will help supercharge the sector’s footprint in Texas. Texas has a skilled, motivated, and hard-working employee base, and encouraging more Israeli business ventures to expand here will generate even more jobs and economic opportunities across our booming and dynamic Texas communities. This MoU is just another testament to our state’s unwavering commitment to creating the best business climate in the world.
We are proud and excited to bring together the world’s two ‘Lone Star States’ to scale up the Texas-Israel business relationship.
Read more about last week’s MoU signing in the Jerusalem Post and JNS News.
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