The Israel Venture Association’s (IVA) board of directors today unanimously elected Yoram Oron to serve as its chairman for the next two years. Oron succeeds Chemi Peres, founder and general managing partner of Pitango Venture Capital, who has now completed his two-year term as IVA chairman. The election took place one week after IVA’s annual meeting at which a new board of directors was chosen.
Oron is founder and managing partner of Vertex Venture Capital.
As IVA chairman, Oron will be responsible for setting the public policy agenda and overall strategy direction of the association as well as promote the high tech industry in Israel. Oron has been on the IVA Board since 1997 and was chairman of its conference committee between 2003-2004.
Oron said “Chemi Peres succeeded in bringing the importance of the venture capital industry to the forefront of the Israeli consciousness. Venture capital is a key economic driver of the country’s economy and it vital that we promote a healthy climate that will further nurture entrepreneurship, technological innovation, education and foreign and domestic investment.”
Peres stated that “cuts in the Chief Scientist's R&D budget by the government is a negative trend in the decreasing government support of the high tech industry. This will cause the closure of companies that have real growth potential, thwart R&D activities in established companies and reduce technology incubator activity.”
“We will continue to lobby for legislation that will foster an environment that is conducive to promoting innovation, entrepreneurship and capital creation. Government support with regards to research and development budgets, preferential terms for entrepreneurs and investors as well as education in general and technological education in particular, are crucial to boost the high tech industry in Israel and as such propel the Israeli economy,” said Oron.
Oron founded Vertex Venture Capital in 1997 in conjunction with Singapore Technologies. He was co-founder of Geotek Communications and manager of its Military Division; co-founder, president and CEO of Reshef Technologies; and co-founder and chairman of Telegate Ltd.
The IVA - Israel Venture Association is a non-profit organization that was founded in August 1996 in response to the steady developments of venture capital activities in Israel, acting as a broad-based organization representing the diverse aspects of the Israeli capital venture industry. Today, the IVA membership stands at around 150, comprised of Israeli-based and Israeli-oriented VCs, investment and holding companies, investment banks, as well as industry-related service providers.