The Dogs May Bark but the Caravan moves on...

"Eureka was created as an intergovernmental initiative in 1985 and is a pan-European network for market-oriented, industrial R&D. It approves projects that total €1.5 billion per year.

Israel, which holds the rotating presidency of Eureka, a pan-European industrial network of 40 countries, will be part of more than one-third of the network’s R&D projects.

“In a global environment of ever-changing dynamics, innovation is the key to our survival and progress,” Industry, Trade and Labor Minister Binyamin Ben-Eliezer said Wednesday evening in Tel Aviv, at an event marking Israel’s presidency of the program.

“Innovation is the philosophy of 3,800 Israeli technology companies and eight Israeli Nobel Prize winners. We have turned into a competitive hi-tech economy open to international cooperation. Today, in the face of a global economic and financial crisis, our economy is still strong and healthy.”