In a move to strengthen economic ties between Colorado and Israel, the new non-governmental Colorado-Israel Chamber of Commerce aims to foster business relationships and promote collaboration.
“Colorado and Israel are basically natural friends. It’s actually a shame that something hasn’t really gotten going until now,” explains Jordan Kastrinsky, cofounder of the chamber.
While many US chambers of commerce have government backing, the Colorado-Israel chamber is a grassroots effort led by Kastrinsky and cofounder Jeremiah Baronberg.
The cofounders of the Colorado-Israel Chamber of Commerce Jeremiah Baronberg (left) and Jordan Kastrinsky. Photo courtesy the Colorado-Israel Chamber of Commerce
“We don’t get any funding from the state,” Kastrinsky clarifies. “Maybe that will change at some point. But as of right now, we don’t.”
Instead, the chamber has garnered support from various stakeholders.
“We have partners at the state level in Colorado and at the municipality level and also in the private sector who are interested in seeing something like this develop and want to be a part of it,” Kastrinsky says.
These partners include state-level organizations like the Denver Economic Development Council and the Colorado Office of Economic Development and International Trade. In the private sector, the Colorado Bioscience Association has joined as a member, signaling the potential for collaboration in the medical and biotechnology fields.
Kastrinsky explained that while in some cases, these partnerships are supported by a shared Zionist interest, they are largely being forged due to the mutual desire to foster strong business connections.
According to the chamber, Israel is ranked the third most innovative country by the World Intellectual Property Organization, and is home to over 6,000 startups, the highest per capita in the world. Boulder is recognized as the second best US city for startups and entrepreneurs, and is a leading state for talent in the bioscience, energy and water sectors.
Thirsty for water tech
The chamber’s inception stems from a recognition of shared interests and complementary strengths.
For Israel, the chamber represents an opportunity to expand beyond traditional US market entry points such as San Francisco, New York, Miami and Boston.
Kastrinsky sees Colorado as an attractive alternative, offering unique advantages such as a shared time zone with Latin American countries, and key areas of alignment including agriculture, aerospace and defense, bioscience and medical technologies, and, notably, water technology.
“Colorado is thirsty, if you would, for water technologies,” Kastrinsky notes, explaining that both regions face water scarcity issues.
Colorado’s complex water laws and drought conditions create a demand for innovative solutions. Israel, a global leader in water technologies, is well-positioned to offer expertise in this area.
One of the chamber’s challenges, Kastrinsky says, is to “brand Colorado as a destination” for Israelis. This involves educating Israeli companies about the benefits of establishing a presence in Colorado and guiding them through the complexities of entering the US market.
Kastrinsky notes that many Israeli startups have a “know-it-all mentality” and go about entering the American market the wrong way.
“The long term [goal] is trying to show the actual value add by bringing Israeli companies and delegations to Colorado and vice versa, so [both sides] can actually see what’s going on here,” he says.
Early successes, future plans
Despite these challenges, the Colorado-Israel Chamber of Commerce has hit the ground running.
In its inaugural year, it has already cosponsored a delegation of Israeli water companies to Colorado.
Looking ahead, the chamber is planning a panel discussion at the upcoming Denver Startup Week, September 18-22.
Kastrinsky is also working on setting up webinars with the BIRD Foundation (Israel-U.S. Binational Industrial Research and Development) and the Colorado Bioscience Association, as well as organizing another delegation for the following year.
The chamber is even exploring initiatives beyond the business sector, including the establishment of connections between Israeli and Coloradoan colleges and universities.
As both Colorado and Israel seek to expand their global economic footprint, this new chamber of commerce holds promise for mutually beneficial collaborations in the years to come.
“We’re trying to centralize things and be the group that says, ‘Hey, you want to figure out how to come to America? Why don’t you try Colorado?” says Kastrinsky. “Let us help you do it the right way: figure out who you need to meet with, get the right stakeholders, know the regulations, know the area, know the grants that you can get and know the investment landscape. Let’s help you out.’”
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Publish date : 2024-09-09 19:19:00
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