By Tim Keenan and RJ King, Published in DBusiness
The Michigan Israel Business Accelerator (MIBA), the nonprofit international trade organization committed to accelerating Michigan’s economic growth through Israeli corporate connections, says it is continuing its momentum that started during the COVID-19 pandemic and now persists despite the conflict in Israel.
In 2023, the MIBA generated 1,218 connections between Israeli and Michigan companies, facilitating $7 million in economic activity for the state of Michigan.
Since June 2023, six Israeli companies established a physical presence in The Elevator Building, the first coworking space in the U.S. dedicated to help Israeli companies scale. Located in downtown Detroit, in partnership with the Michigan Economic Development Corp. and Bedrock Detroit, The Elevator hosted more than 350 guests in the second half of 2023.
Demand also is increasing for Michigan companies seeking business growth opportunities in Israel. Earlier this year, the MIBA facilitated visits for dozens of business leaders to Israel to explore opportunities in the health tech and mobility sectors.
“Despite the turmoil in Israel, the country has maintained its global leadership in the innovative fields that Michigan is counting on to grow its economy and population,” said Scott Hiipakka, CEO of the MIBA. “Our commitment to connecting communities between Israeli and Michigan innovators tackling today’s most pressing challenges remains steadfast.
“We are encouraged to see the demand for Israeli innovation in Michigan growing. As a result of these increased opportunities, the MIBA has expanded to five team members in Michigan and three in Israel, with further expansion efforts planned.”
